Hayden on Hollywood 7200 Hollywood Blvd 74 Unit Apartment Building $15,350,000 ($207,432/Unit) 6.43% Cap Rate Los Angeles, CA 90046

$900,000 PRICE REDUCTION --
OFFERED CONCURRENTLY WITH SIENNA ON SANBORN (SILVER LAKE) & GRACIE ON GRAMERCY (HOLLYWOOD).
OPPORTUNITY TO PURCHASE INDIVIDUALLY OR TOGETHER.
Institutional Property Advisors (“IPA”), as the exclusive listing agent, is pleased to present the opportunity to acquire Hayden on Hollywood (the “Property”), a four-building, 74-unit multifamily community located in the Hollywood submarket of Los Angeles at 7200, 7407, 7451, & 7504 Hollywood Blvd Los Angeles, CA 90046.
Originally constructed between 1938 and 1953, current ownership has spent $4.7M ($60K+ per unit) on capital expenditures to completely transform the community. Many of the Property’s mechanical systems and building improvements have been addressed which allows investors to focus almost entirely on high return on investment interior renovations moving forward.
51 of the 74 unit interiors (69%) have been extensively renovated, including new cabinetry, new stainless-steel appliances, plank vinyl flooring (or refinished oak hardwood floors), quartz countertops, backsplash, new dual-pane windows, recessed LED lighting fixtures, upgraded plumbing fixtures and in-unit washers and dryers (in select units). Investors will have the opportunity to follow this proven interior renovation strategy in the remaining 23 units (31%) and capture 11%+ upside in rental income.