Homes for sale - 1156 Gordon ST, Los Angeles, CA 90038

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Steve Olson

team@steveolsongroup.com +1(760) 452-9570

$ 1,850,000

Est. payment | -/mo

6,507 Sqft Lot

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$ 1,850,000

Est. payment | -/mo

Save

6,507 Sqft Lot

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID SR24242436

HOA Y/N No

Year Built 1910

Lot Size 6,507 Sqft

Property Description

We are pleased to present an unbeatable value add investment opportunity with immense rental upside in the heart of Hollywood! Standing on a +/- 6,504 sq ft. lot on the corner of Lexington Ave and Gordon St is a 6 unit building with 5 UNITS DELIVERED VACANT. There are 2 structures on the lot consisting of a 4 unit building and a duplex. All units are spacious and feature 1920's period details. Consists of six 1 bedroom / 1 bath units. The building has a newer roof, copper plumbing, and separate meters for gas and electric. The vacant units present the perfect opportunity to cosmetically remodel the interiors and achieve market rents. The occupied unit is already rented at close to market. When the vacant units are remodeled and rented, the building will generate approximately $150,288 in gross income and operate at a cap rate of at least 6%. The lot also includes 2 garages and an uncovered parking area, which can be used to build 1 or more ADUs for additional income. Less than 1 mile from the Netflix HQ, Paramount Pictures, and many other entertainment/media companies, the building is in a highly desirable rental market with close proximity to Hollywood attractions, the 101 freeway, and Downtown LA.

Location

State CA

County Los Angeles

Area C20 - Hollywood

Zoning LAR3

Interior

Fireplace No

Laundry Common Area

Exterior

Parking Features Driveway, Garage

Garage Spaces 2.0

Garage Description 2.0

Pool None

Community Features Curbs, Gutter(s), Storm Drain(s), Street Lights, Suburban, Sidewalks

Total Parking Spaces 5

Private Pool No

Building

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5534012024

Acceptable Financing Cash, Cash to New Loan, Conventional

Listing Terms Cash, Cash to New Loan, Conventional

Special Listing Condition Standard

Listed by Anie Mayelian • Keller Williams Realty Calabasas • 818-915-9118

+1(760) 452-9570

team@steveolsongroup.com

1420 Kettner Blvd. #100, San Diego, CA, 92101

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Carlsbad Real Estate

1156 Gordon ST Los Angeles, CA 90038