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4956 Romaine St 16 Unit Apartment Building $2,600,000 ($162,500/Unit) Los Angeles, CA 90029
Investment Highlights
- 16-Unit Multifamily Asset – 100% 1 Bed / 1 Bath Unit Mix
- $190,625 Price Per Unit – Attractive Basis for the Area
- Assigned On-Site Parking – Tenant Convenience
- Value-Add Opportunity – Ideal for Long-Term Hold Strategy
- One Vacant Unit – Immediate Lease-Up & Income Growth
Executive Summary
Prime Hollywood investment opportunity featuring 16 one-bedroom, one-bathroom units, each with its own assigned parking space. JUST REDUCED to $2,600,000 (approximately $162,500 per unit), this well-maintained asset delivers strong in-place income with great upside potential. One vacant unit allows a new owner to lease at market and increase cash flow from day one, with additional upside through rent growth and operational improvements. The excellent unit mix, favorable parking ratio, and sought-after Hollywood location make this a compelling opportunity for both value-add and long-term investors.
Property Facts
| Price | $2,600,000 | Lot Size | 0.22 AC |
| Price Per Unit | $162,500 | Building Size | 15,406 SF |
| Sale Type | Investment | Average Occupancy | 94% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1964 |
| Property Subtype | Apartment | Parking Ratio | 0.78/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | LARD1.5 | ||
| Price | $2,600,000 |
| Price Per Unit | $162,500 |
| Sale Type | Investment |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 15,406 SF |
| Average Occupancy | 94% |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 0.78/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LARD1.5 |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Freezer
Site Amenities
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | - |
1 1
Walk Score®
Very Walkable (88)
Bike Score®
Very Bikeable (76)
Property Taxes
| Parcel Number | 5538-004-001 | Improvements Assessment | $628,665 |
| Land Assessment | $269,413 | Total Assessment | $898,078 |
Property Taxes
Parcel Number
5538-004-001
Land Assessment
$269,413
Improvements Assessment
$628,665
Total Assessment
$898,078
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4956 Romaine St
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