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6043-6053 Selma Ave 6 Unit Apartment Building $2,950,000 ($491,667/Unit) 5.02% Cap Rate Los Angeles, CA 90028
Executive Summary
Bungalow Heaven! This unique property consists of 6 individual bungalow homes on a huge, gated lot (almost 20000 sf)! Each house is rich with original woodwork and character and has its own private, fenced yard. 3 of the units have been completely renovated within the past 2 years with all new electrical, plumbing, HVAC, kitchens, baths, flooring, etc.; 5 of the units just had new roofs installed and the 6th was inspected and certified. This property is located in the heart of Hollywood, within walking distance of the Metro, shopping and restaurants, but set back off a quiet tree-lined street creating a tranquil and private living environment. Everyone who has lived in these units love them and therefore there is very little turnover with several tenants staying over 20 years. The purchase of 6043-53 Selma Ave. is the perfect opportunity for an investor to acquire a centrally-located Hollywood gem with tremendous income upside potential as demand for residential rentals in this area continues to grow. This property could also be great candidate for a Tenants in Common (TIC) conversion.
Property Facts
| Price | $2,950,000 | Building Class | C |
| Price Per Unit | $491,667 | Lot Size | 0.46 AC |
| Sale Type | Investment | Building Size | 4,328 SF |
| Cap Rate | 5.02% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1914 |
| Property Subtype | Apartment | Parking Ratio | 2.08/1,000 SF |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Zoning | R4, Los Angeles - Multiple Dwelling. Property is located in the Selma-La Baig Historic District | ||
| Price | $2,950,000 |
| Price Per Unit | $491,667 |
| Sale Type | Investment |
| Cap Rate | 5.02% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 4,328 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1914 |
| Parking Ratio | 2.08/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R4, Los Angeles - Multiple Dwelling. Property is located in the Selma-La Baig Historic District |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Storage Space
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Tile Floors
- Crown Molding
- Kitchen
- Hardwood Floors
- Vaulted Ceiling
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Walk-In Closets
- Yard
- Lawn
- Office
- Patio
- Porch
- Skylights
- Vinyl Flooring
- Quartz Countertops
Site Amenities
- 24 Hour Access
- Controlled Access
- Fenced Lot
- Tenant Controlled HVAC
- Gated
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | $2,344 | 730 |
| 1+1 | 3 | $2,829 | 730 |
Very walkable
80/100
Very drivable
80/100
Good public transit
70/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 5545-007-040 | Improvements Assessment | $278,771 |
| Land Assessment | $1,031,489 | Total Assessment | $1,310,260 |
Property Taxes
Parcel Number
5545-007-040
Land Assessment
$1,031,489
Improvements Assessment
$278,771
Total Assessment
$1,310,260
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6043-6053 Selma Ave
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