6434 Yucca St 49 Unit Apartment Building $6,950,000 ($141,837/Unit) 6.10% Cap Rate Los Angeles, CA 90028

Marcus & Millichap (“M&M”), as the exclusive listing agent, is pleased to announce the opportunity to acquire 6434 Yucca (the “Property”), a 49-unit value-add investment opportunity located in the Hollywood submarket of Los Angeles, CA.
Originally built in 1923, the property benefits from a series of upgrades completed by the current and prior ownership groups that should allow investors to focus more on high return on investment interior improvements going forward. Post stabilization, investors will be able to achieve a 6.0% cap rate. Additionally, given the naturally occurring affordability of the unit mix and floor plans, investors can potentially pursue a welfare exemption that would reduce the taxable value of the property and reduce ad valorem property taxes.
The Property is in heart of the Hollywood entertainment district, only a few blocks from the intersection of Hollywood & Vine. Tenants are within walking distance of major employers such as Viacom, Netflix, & the Capitol Records Building; the Metro B line at Hollywood / Vine station which puts Downtown LA, Koreatown, and Studio
City within a few stops; a plethora of entertainment options including the Pantages, the Palladium, Fonda Theatre, & W Hotel; and a variety of everyday amenities such
as Trader Joe’s, Chase Bank, and Equinox. Major entertainment industry titans such as NBC/ Universal, Warner Brothers, and Paramount/Skydance are within a 5-10 minute commute, 3 million total jobs across a diverse set of industries are accessible within 20-30 minutes given proximity to the 101-freeway.
The combination of high level of walkability, value-add potential, and deep bench of prospective renters given the affordable rental price points offer investors a unique investment opportunity.