1640 N Harvard Blvd | Los Angeles, CA 90027
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- LoopNet Team
1640 N Harvard Blvd
Los Angeles, CA 90027
$500K Reduction | $233K PPU | 61% Upside · Multifamily Property For Sale
·
16 Units
Investment Highlights
- 1640 N. Harvard offers an opportunity to reposition a courtyard-style property near several of Northeast LA’s hottest lifestyle and employment hubs.
- The property is 2 miles from Sunset Junction in Silver Lake; and just minutes from the Hollywood Media District, a significant employment hub.
- Stabilized metrics pencil at a 8.20% CAP and 9.20 GRM. Additional opportunity exists in the underutilized lot size, which may support ADU development
- Tenants will appreciate walkable access to Hillhurst Ave, Griffith Park trails, the cultural energy of Vermont Avenue, Barnsdall Art Park.
- Current rents are significantly below market, with a projected 61% rental upside through interior renovations and system upgrades.
- Set on a 14,140 SF lot, the property features a classic garden-style layout, gated entry, community laundry, and ample covered carport parking.
Property Facts
| No. Units | 16 | Building Size | 15,736 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1952 |
| Building Class | C | Parking Ratio | 1.02/1,000 SF |
| Lot Size | 0.32 AC | ||
| Zoning | LARD1.5 | ||
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.32 AC |
| Building Size | 15,736 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1952 |
| Parking Ratio | 1.02/1,000 SF |
| Zoning | LARD1.5 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $1,827 | - |
| 1+1 | 13 | $980.00 | - |
| Studios | 1 | $1,101 | - |
Property Taxes
| Parcel Number | 5544-016-013 | Improvements Assessment | $583,056 |
| Land Assessment | $249,989 | Total Assessment | $833,045 |
Property Taxes
Parcel Number
5544-016-013
Land Assessment
$249,989
Improvements Assessment
$583,056
Total Assessment
$833,045
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