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1770 El Cerrito Place
Los Angeles, CA 90028
Sold
1770 El Cerrito Place
Los Angeles, CA 90028
Sold
Huge 1.2M Price Reduction! 16-unit building with 9 vacancies priced at only 299k/door for prime Hollywood in an opportunity zone. Cash flowing at an amazing 6% Cap Rate and 12 GRM on existing after renovations with an incredible upside to an 8.4% Cap Rate and 9.1 GRM on proforma. Plus, there are 4 attached ADUs under construction with RTI plans to improve the numbers to only 239k/unit, 7.3% Cap Rate, and 10.2 GRM on current. All 9 vacant units and 4 ADUs are under renovation so buyers can complete them to their own taste and finishes and get top market rents (Most of the rough construction and heavy lifting have been done for the remodels). Great amenities such as Pool, Laundry Room, and carport garages. Individually metered for Gas & Electricity. Situated in the Heart of Hollywood, steps away from RunyonCanyon, Magic Castle, Yamashiro, and Hollywood Bowl! The soft story has already been completed and the roof has been recently updated. Potential to create and add a rooftop to maximize rents and amenities.
PROPERTY INFORMATION
| MLS # | 23325357 | Lot Size | 11,040 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 4,795,000
Price Per SqFt: $ 472 |
DOM | 612 Days |
| Address | 1770 El Cerrito Place | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 10,166 Sq. Ft. |
| Postal Code | 90028 | Garage | N/A |
| County | Los Angeles | Year Built | 1958 |
| Bed / Bath | 17 / 0 | Parking | 12 |
| Built In | 1958 | Status | Closed |
| Sold Date | 2024-01-12 |
INTERIOR FEATURES
| Has Heating | Yes |
| Heating Information | Wall Furnace |
| Has Cooling | No |
| Cooling Information | None |
| SecuritySafety | Gated Community |
EXTERIOR FEATURES
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $5,115
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 11/02/2023 | Listed | $4,795,000 |
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Listing provided courtesy of Armin Soleimani, Global Platinum Properties, Inc.. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
