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1014 N El Centro Ave 7 Unit Apartment Building $1,680,000 ($240,000/Unit) 5.14% Cap Rate Los Angeles, CA 90038
Investment Highlights
- There is approximately 14% rental upside remaining, capturable through ordinary turnover.
- The property carries a Walk Score of 94. Groceries, restaurants and daily needs sit along Santa Monica Boulevard, one block south.
- Major entertainment employers sit within a mile — Paramount Pictures, Sunset Las Palmas Studios, and Netflix's Sunset Boulevard campuses.
- The property is offered at $264 per square foot, below the average of the recent comparable sales in the surrounding Hollywood submarket.
- Metro's B Line at Hollywood/Vine connects residents to Koreatown, DTLA and the San Fernando Valley, with the 101 Freeway minutes away.
- The property offers five one-bedroom units and two two-bedroom units.
Executive Summary
The SR Group of 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 $264 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.
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 $264 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.
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Property Facts
| Price | $1,680,000 | Building Class | C |
| Price Per Unit | $240,000 | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 6,375 SF |
| Cap Rate | 5.14% | No. Stories | 2 |
| Gross Rent Multiplier | 10.84 | Year Built | 1949 |
| No. Units | 7 | Parking Ratio | 0.78/1,000 SF |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | [Q]R4-1VL-CPIO | ||
| Price | $1,680,000 |
| Price Per Unit | $240,000 |
| Sale Type | Investment |
| Cap Rate | 5.14% |
| Gross Rent Multiplier | 10.84 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 6,375 SF |
| No. Stories | 2 |
| Year Built | 1949 |
| Parking Ratio | 0.78/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | [Q]R4-1VL-CPIO |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | - | - |
| 2+1 | 2 | - | - |
1 1
Very walkable
80/100
Moderately drivable
70/100
Good public transit
70/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 5534-023-012 | Improvements Assessment | $473,516 |
| Land Assessment | $1,361,364 | Total Assessment | $1,834,880 |
Property Taxes
Parcel Number
5534-023-012
Land Assessment
$1,361,364
Improvements Assessment
$473,516
Total Assessment
$1,834,880
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