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1825 Tamarind Ave
USD 6,700,000
Property ID: 25478521
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1825 Tamarind Ave ,90028
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icon 18513 SqFt
icon Built in 1965
icon USD 362/SqFt
icon 19 Beds
icon 38 Full
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Location Street View
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Interior Details
Bedrooms
19
Bathrooms
38
Interior Size
17095
Construction Details
Property Type --
Property Condition --
Architectural Style --
New Construction --
Year Built 1965
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Detailed Introduction Of This Home
This is a bankruptcy sale that will be subject to a court overbid. We are pleased to present 1825 Tamarind Ave, a multifamily investment opportunity totaling 33 units in prime Hollywood just south of Franklin Ave across the street from the Church of Scientology. The subject property consists of two structures featuring a unit mix of 20 singles, nine one-bedrooms, three two-bedrooms, and one three bedrooms; there are 33 parking spaces, a mix of tuck under parking and uncovered spaces at the rear of the property; nine units will be delivered vacant at the close of escrow, allowing an investor to renovate and achieve market rents immediately. True value add opportunity with the majority of the rents below market;5.35% CAP rate & 10.89 GRM at the asking price with an additional 28% rental upside; additionally, the abundant parking and storage spaces create an opportunity to add several ADU's via the newly passed SB1211 (Buyer to verify). Units are well-maintained but can be enhanced through interior renovations to achieve market rents such as new flooring, recessed lighting or new fixtures, updated bathrooms & kitchens, and appliances. High walk score of 87, half of a mile from the Metro B rail line and walking distance to multiple Metro local lines along Franklin Ave. Major employers in Los Angeles such as Live Nation, Capitol Records, HBO and Netflix among many others. Significant affordability gap to home ownership in Hollywood. The monthly payment on a median-priced home inclusive of condos is drastically higher than average rents in the area, which serves as a constant occupancy driver for apartment communities in Hollywood.
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Contact Development/Agent
Cissy Tang
TEL: (+1)626 9868**** icon
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Contact Development/Agent
icon
Cissy Tang
(+1)626 9868**** icon
Please enter your nationality
+87
Cannot be empty
Email address is invalid Email address not authenticated!
Cissy Tang
(+1)626 9868**** icon
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1825 Tamarind Ave
USD 6,700,000 19 Beds
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