Multifamily
1014-1018 North El Centro Avenue
1014 N El Centro Ave, Los Angeles, CA 90038
Listing Price: $1,500,000
Investment Overview
Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale 1014-1018 North El Centro Avenue, a seven-unit apartment community located in the Hollywood neighborhood of Los Angeles, just north of Santa Monica Boulevard between Vine Street and Gower Street.
Built in 1949, the property comprises 6,375 square feet of improvements on a 6,481-square-foot parcel, with a unit mix of five one-bedroom units and two two-bedroom units. There is approximately 14% rental upside remaining, capturable through ordinary turnover. The offering is priced at $235 per square foot, below the average of the recent comparable sales in the surrounding Hollywood submarket.
The property carries a Walk Score of 94, with retail and dining along Santa Monica Boulevard a block south. Paramount Pictures on Melrose Avenue, Sunset Las Palmas Studios, and the Sunset Boulevard creative-office campuses anchored by Netflix are all within about a mile, as are Metro’s B Line at Hollywood/Vine and the 101 Freeway.
1014-1018 North El Centro Avenue offers investors an opportunity to acquire a well-maintained asset with remaining upside in one of the most established rental submarkets in Los Angeles.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
1014-1018 North El Centro Avenue
Investment Highlights
- There is approximately 14% rental upside remaining, capturable through ordinary turnover.
- The property is offered at $235 per square foot, below the average of the recent comparable sales in the surrounding Hollywood submarket.
- The property carries a Walk Score of 94. Groceries, restaurants and daily needs sit along Santa Monica Boulevard, one block south.
- Metro's B Line at Hollywood/Vine connects residents to Koreatown, DTLA and the San Fernando Valley, with the 101 Freeway minutes away.
- Major entertainment employers sit within a mile — Paramount Pictures, Sunset Las Palmas Studios, and Netflix's Sunset Boulevard campuses.
- The property offers five one-bedroom units and two two-bedroom units.
Exclusively Listed By
Financing By
Listing Price: $1,500,000
Investment Highlights
- There is approximately 14% rental upside remaining, capturable through ordinary turnover.
- The property is offered at $235 per square foot, below the average of the recent comparable sales in the surrounding Hollywood submarket.
- The property carries a Walk Score of 94. Groceries, restaurants and daily needs sit along Santa Monica Boulevard, one block south.
- Metro's B Line at Hollywood/Vine connects residents to Koreatown, DTLA and the San Fernando Valley, with the 101 Freeway minutes away.
- Major entertainment employers sit within a mile — Paramount Pictures, Sunset Las Palmas Studios, and Netflix's Sunset Boulevard campuses.
- The property offers five one-bedroom units and two two-bedroom units.
Investment Overview
Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale 1014-1018 North El Centro Avenue, a seven-unit apartment community located in the Hollywood neighborhood of Los Angeles, just north of Santa Monica Boulevard between Vine Street and Gower Street. Built in 1949, the property comprises 6,375 square feet of improvements on a 6,481-square-foot parcel, with a unit mix of five one-bedroom units and two two-bedroom units. There is approximately 14% rental upside remaining, capturable through ordinary turnover. The offering is priced at $235 per square foot, below the average of the recent comparable sales in the surrounding Hollywood submarket. The property carries a Walk Score of 94, with retail and dining along Santa Monica Boulevard a block south. Paramount Pictures on Melrose Avenue, Sunset Las Palmas Studios, and the Sunset Boulevard creative-office campuses anchored by Netflix are all within about a mile, as are Metro’s B Line at Hollywood/Vine and the 101 Freeway. 1014-1018 North El Centro Avenue offers investors an opportunity to acquire a well-maintained asset with remaining upside in one of the most established rental submarkets in Los Angeles. PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
Exclusively Listed By
Financing By
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