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Charming Fourplex near Hollywood/Highland! 1435-1437 1/2 N Las Palmas Ave 4 Unit Apartment Building $1,695,000 ($423,750/Unit) 4.17% Cap Rate Los Angeles, CA 90028
INVESTMENT HIGHLIGHTS
- Beautifully Remodeled 4-Plex in Central Hollywood
- Excellent Unit Mix - 4 (2BR + 2BA) Units
- 8 Tandem Parking Spaces | Potential for ADU Additions (Buyer to Verify)
- Renovations Include: Wood Floors, In-Unit Laundry, Newer Roof & Plumbing, Updated Kitchens and Bathrooms
- Unparalleled Access to The City's Most Iconic Attractions, Lifestyle Amenities & Top Employers
- Approximately 3 Blocks from Hollywood & Highland! | Centrally Located with a Walk Score of 96--Deemed a Walker's Paradise!
EXECUTIVE SUMMARY
Vartanian CRE of Lyon Stahl Investment Real Estate is pleased to present 1435 N Las Palmas Ave, a beautifully remodeled 4-plex offering an incredible investment opportunity in Prime Central Hollywood. With a total square footage of 3,844 situated on a 5,150 square feet lot zoned RD1.5-1XL, these four spacious units consist of Two bedroom / Two bathroom units which also offer in-unit laundry, wood flooring, brand new plumbing, a new roof, modern electrical systems, and extensive renovations to both the kitchens and bathrooms. All units are individually metered for both gas and electricity.
Nestled in the vibrant heart of Hollywood, this property offers unparalleled access to the city's most iconic attractions. You’re Minutes away from the Hollywood Walk of Fame, TCL Chinese Theatre, and the bustling Hollywood & Highland Center. With a walk score of 91, you have easy access to nearby parks and recreation areas, including Griffith Park and Runyon Canyon, This property also has excellent public transportation links with proximity to the Hollywood/Vine Metro station making commuting a breeze. This unbeatable location is in Los Angeles’s most dynamic and soughtafter neighborhood.
Nestled in the vibrant heart of Hollywood, this property offers unparalleled access to the city's most iconic attractions. You’re Minutes away from the Hollywood Walk of Fame, TCL Chinese Theatre, and the bustling Hollywood & Highland Center. With a walk score of 91, you have easy access to nearby parks and recreation areas, including Griffith Park and Runyon Canyon, This property also has excellent public transportation links with proximity to the Hollywood/Vine Metro station making commuting a breeze. This unbeatable location is in Los Angeles’s most dynamic and soughtafter neighborhood.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$115,080
|
$29.94
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$3,452
|
$0.90
|
| Effective Gross Income |
$111,628
|
$29.04
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$40,967
|
$10.66
|
| Net Operating Income |
$70,661
|
$18.38
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $115,080 |
| Annual Per SF | $29.94 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $3,452 |
| Annual Per SF | $0.90 |
| Effective Gross Income | |
|---|---|
| Annual | $111,628 |
| Annual Per SF | $29.04 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $40,967 |
| Annual Per SF | $10.66 |
| Net Operating Income | |
|---|---|
| Annual | $70,661 |
| Annual Per SF | $18.38 |
PROPERTY FACTS
| Price | $1,695,000 | Building Class | C |
| Price Per Unit | $423,750 | Lot Size | 0.12 AC |
| Sale Type | Investment | Building Size | 3,844 SF |
| Cap Rate | 4.17% | Average Occupancy | 100% |
| Gross Rent Multiplier | 14.73 | No. Stories | 2 |
| No. Units | 4 | Year Built | 1921 |
| Property Type | Multifamily | Parking Ratio | 1.92/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RD1.5-1XL - restricted Density Multiple Dwelling | ||
| Price | $1,695,000 |
| Price Per Unit | $423,750 |
| Sale Type | Investment |
| Cap Rate | 4.17% |
| Gross Rent Multiplier | 14.73 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 3,844 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1921 |
| Parking Ratio | 1.92/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RD1.5-1XL - restricted Density Multiple Dwelling |
AMENITIES
UNIT AMENITIES
- Washer/Dryer
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 4 | $2,373 | 950 |
Walk Score®
Walker's Paradise (96)
Bike Score®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Number | 5547-022-015 | Improvements Assessment | $712,147 (2025) |
| Land Assessment | $1,032,171 (2025) | Total Assessment | $1,744,318 (2025) |
PROPERTY TAXES
Parcel Number
5547-022-015
Land Assessment
$1,032,171 (2025)
Improvements Assessment
$712,147 (2025)
Total Assessment
$1,744,318 (2025)
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Charming Fourplex near Hollywood/Highland! | 1435-1437 1/2 N Las Palmas Ave
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