CA > Los Angeles
Los Angeles, CA 90028,1825 Tamarind Ave
Los Angeles, CA 90028,1825 Tamarind Ave
Los Angeles, CA 90028,1825 Tamarind Ave
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$6,700,000
Est. payment /mo
19 Beds
38 Baths
17,095 SqFt
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UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 17,095 sqft

Price per Sqft $391

MLS Listing ID 25478521

Bedrooms 19

HOA Y/N No

Year Built 1965

Lot Size 0.425 Acres

Property Description

This is a bankruptcy sale that will be subject to a court overbid. We are pleased to present 1825 Tamarind Ave, a multifamily investment opportunity totaling 33 units in prime Hollywood just south of Franklin Ave across the street from the Church of Scientology. The subject property consists of two structures featuring a unit mix of 20 singles, nine one-bedrooms, three two-bedrooms, and one three bedrooms; there are 33 parking spaces, a mix of tuck under parking and uncovered spaces at the rear of the property; nine units will be delivered vacant at the close of escrow, allowing an investor to renovate and achieve market rents immediately. True value add opportunity with the majority of the rents below market;5.35% CAP rate & 10.89 GRM at the asking price with an additional 28% rental upside; additionally, the abundant parking and storage spaces create an opportunity to add several ADU's via the newly passed SB1211 (Buyer to verify). Units are well-maintained but can be enhanced through interior renovations to achieve market rents such as new flooring, recessed lighting or new fixtures, updated bathrooms & kitchens, and appliances. High walk score of 87, half of a mile from the Metro B rail line and walking distance to multiple Metro local lines along Franklin Ave. Major employers in Los Angeles such as Live Nation, Capitol Records, HBO and Netflix among many others. Significant affordability gap to home ownership in Hollywood. The monthly payment on a median-priced home inclusive of condos is drastically higher than average rents in the area, which serves as a constant occupancy driver for apartment communities in Hollywood.

Location

State CA

County Los Angeles

Area C20 - Hollywood

Zoning R3-1

Interior

Heating None

Cooling None

Fireplace No

Exterior

Parking Features None

Total Parking Spaces 33

Building

Story 3

Entry Level Three Or More

Level or Stories Three Or More

New Construction No

Others

Senior Community No

Tax ID UNAVAILABLE

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Neema Ahadian • Marcus & Millichap

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