1129 Lodi Place Los Angeles, CA 90038
Huge 700k Price Reduction! 8-unit building with 7 fully renovated units in Prime Hollywood cash flowing at an incredible Current Cap Rate of 6.1% and 11.9 GRM from day 1! The 7 units have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, new Mini Split AC systems, stainless steel appliances, washer/dryer inside, as well as major exterior capital improvements (4 vacant). The unit mix provides unparalleled versatility, including 2 spacious (2bed/3bath) units ideal for families, as well as 6 modern (1bed/1bath) units perfect for individuals seeking comfort and style. Each unit is individually metered for gas and electricity, ensuring convenience and efficiency. On top of that, the major systems have been updated including electrical, plumbing, HVAC, etc. Furthermore, there's an additional upside to 6.9% Cap Rate and 10.7 GRM on proforma. The property is located in the heart of the Hollywood entertainment industry just minutes away from Netflix studios, Paramount Studios, and Netflix Corporate office. Located just steps away from the world-famous Sunset Blvd, the property offers close proximity to neighborhood attractions, restaurants, bars, and shops such as the Hollywood Walk of Fame, Highlight Room, TAO, Bar-Lis, Dream Hotel, Thompson Hotel, and many more popping up all around the area.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyLos Angeles
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site26 Days
- MLS StatusActive Under Contract
- MLS ID Number24391925
- Home Size Source N/A
- Year Built1953
- Lot Size0.1553 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Parking AssignedCarportTandem Garage
- Parking Spaces 8
- Number of Stories 22
- Acreage 0.1553
- Zoning LARD1.5
- Listing Conditions Standard
Interior Features
- Heating ZonedElectric
- Appliances Refrigerator
- Laundry Features Inside
Community Features
- Senior Community No
- MLS Area C20 - Hollywood