20-Unit Hollywood Hills West Multifamily 1627 N Poinsettia Pl 20 Unit Apartment Building $4,950,000 ($247,500/Unit) 5.23% Cap Rate Los Angeles, CA 90046

Jake Plewa of RE/MAX Commercial & Investment Realty is pleased to present 1627 N. Poinsettia Place, a prime multifamily investment opportunity located in the highly desirable Hollywood Hills West / Poinsettia Heights neighborhood of Los Angeles. This well-positioned apartment building offers an excellent combination of location, rental upside, and strong long-term appreciation potential in one of the city's most sought-after submarkets.
1627 N. Poinsettia Place is a 20-unit building constructed in 1965 on an 8,436 SF lot zoned LAR3. The property spans approximately 14,817 gross square feet and features a diverse unit mix: 14 one-bedroom/one-bath units, three studio units, and three two-bedroom/two-bath units (1,400 SF each). All units have been thoughtfully renovated with beautifully updated kitchens and bathrooms featuring upgraded cabinetry, stainless steel appliances, modern fixtures, and new flooring.
The building includes a brand new elevator as well as 24 subterranean parking spaces, providing convenient covered parking for residents—a critical amenity in central Hollywood. This offering represents a compelling value-add opportunity for institutional and owner-operator investors seeking exposure to Hollywood's resilient, high-demand multifamily market. The property combines stable current income (5.23% current cap rate), significant rent-growth potential (22% to market), superior location and walkability (95 Walk Score), and long-term appreciation driven by employment density, transit connectivity, and neighborhood trajectory. Hollywood's position as the global epicenter of entertainment, combined with the property's dense urban setting and transit accessibility, positions this asset for consistent tenant demand and pricing power over the investment horizon.