2-Units Delivered Vacant at Close of Escrow!

01-23-2023
05-18-2023

6224 De Longpre Ave, Los Angeles, CA 90028

  • Mayelian Group is pleased to present 6224 De Longpre, an 8- unit building located near Sunset Blvd and Vine St in the highly desirable rental market of Hollywood.
  • Two units will be delivered vacant at close of escrow and can be rented at market rents!
  • 7 of the 8 units have been extensively renovated with stainless steel appliances, granite counters, marble- look tile bathrooms, and other capital upgrades.
  • The building is also located in an Opportunity Zone which would provide additional tax benefits to an owner!

Property Description

Mayelian Group is pleased to present 6224 De Longpre, an 8-unit building located near Sunset Blvd and Vine St in the highly desirable rental market of Hollywood. The subject is in close proximity to many world famous Hollywood attractions, including walking distance to the Hollywood Walk of Fame. Two units will be delivered vacant at close of escrow and can be rented at market rents! 7 of the 8 units have been extensively renovated with stainless steel appliances, granite counters, marble bathrooms, and other capital upgrades. The subject is located in an Opportunity Zone which would provide additional tax benefits to an owner. Property is minutes from various film studios, the Hollywood Walk of Fame, Pantages Theatre, the Capitol Records Building, Hollywood Forever Cemetery, and many famous dining establishments!

Unit Mix

Description No. of Units Sq ft. Avg. Monthly Rent
1Bed +Den /1Bath 1 0 $ 2,267
1Bed/1Bath 1 0 $ 947
1Bed +Den /1Bath 1 0 $ 0
1Bed/1Bath 1 0 $ 1,895
1Bed/1Bath 1 0 $ 1,895
1Bed/1Bath 1 0 $ 0
1Bed/1Bath 1 0 $ 1,795
1Bed/1Bath 1 0 $ 1,995

Key Property Information

Listing Status
Sold
Multifamily Type
Low-Rise
Price
$ 2,750,000
Sales price
$ 3,050,000
No. of Units
8
Cap Rate
4.74%
GRM / GIM
14.6
Average Occupancy
75%
Year Built
1953
Building Size
4,835.96 Sq Ft
Lot Size
6,082 Sq Ft
No. of Stories
2
APN
5546022005
Zoning Code
LAR3
No. of Parking Spots
7
Opportunity Zone
Yes
Price Per Unit
$ 343,750

Financial Details

Income/Expense Info
Actual
Financial Year
2022
Gross Income
$ 188,332.44
Operating Expenses
$ 52,425
Net Operating Income
$ 130,257.47
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