9 Units in Hollywood with Remaining Value-Add | 5622 La Mirada Ave
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9 Units in Hollywood with Remaining Value-Add 5622 La Mirada Ave
9 Unit Apartment Building $3,441,768 CAD ($382,419 CAD/Unit) 5.13% Cap Rate Los Angeles, CA 90038
Investment Highlights
- Required Seismic Retrofit Work Has Been Completed, Saving a New Investor Significant Capital and Time While Allowing for Future Capital Surcharges
- Located in a Designated Opportunity Zone and May Be Eligible for Preferential Tax Treatment
- Over 16% Remaining Rental Upside Through Further Interior Renovations and Turning the Unrenovated Units
- 90 Walk Score - Walker’s Paradise. Near Hollywood Boulevard, Paramount Studios, Netflix Office, Larchmont Village, and More.
Executive Summary
DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT LISTING TEAM FOR DETAILS.
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 5622 La Mirada Avenue. The subject property is a nine-unit multifamily building located in Hollywood, just south of Sunset Boulevard and west of Western Avenue.
Hollywood continues catering to young professionals due to its proximity to a vibrant and lively nightlife scene along with trendy retail and coffee shops. La Mirada Avenue is considered a “Walker’s Paradise” with a 90 Walk Score and is situated a short distance from highly desirable dining and entertaining destinations.
Current ownership has renovated approximately 67% of the units at the property with high-end finishes including new countertops, in-unit washer/dryers (select units), new laminate flooring, and new stainless-steel appliances. The property offers investors a unique opportunity to acquire a well-maintained asset with remaining rental upside.
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 5622 La Mirada Avenue. The subject property is a nine-unit multifamily building located in Hollywood, just south of Sunset Boulevard and west of Western Avenue.
Hollywood continues catering to young professionals due to its proximity to a vibrant and lively nightlife scene along with trendy retail and coffee shops. La Mirada Avenue is considered a “Walker’s Paradise” with a 90 Walk Score and is situated a short distance from highly desirable dining and entertaining destinations.
Current ownership has renovated approximately 67% of the units at the property with high-end finishes including new countertops, in-unit washer/dryers (select units), new laminate flooring, and new stainless-steel appliances. The property offers investors a unique opportunity to acquire a well-maintained asset with remaining rental upside.
Property Facts
| Price | $3,441,768 CAD | Apartment Style | Low Rise |
| Price Per Unit | $382,419 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.13% | Building Size | 6,754 SF |
| Gross Rent Multiplier | 12.07 | No. Stories | 2 |
| No. Units | 9 | Year Built | 1958 |
| Property Type | Multifamily | Parking Ratio | 0.89/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $3,441,768 CAD |
| Price Per Unit | $382,419 CAD |
| Sale Type | Investment |
| Cap Rate | 5.13% |
| Gross Rent Multiplier | 12.07 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 6,754 SF |
| No. Stories | 2 |
| Year Built | 1958 |
| Parking Ratio | 0.89/1,000 SF |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 600 |
| 2+1 | 3 | - | 900 |
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Walk Score ®
Very Walkable (89)
PROPERTY TAXES
| Parcel Number | 5536-004-006 | Improvements Assessment | $1,449,655 CAD |
| Land Assessment | $3,221,461 CAD | Total Assessment | $4,671,117 CAD |
PROPERTY TAXES
Parcel Number
5536-004-006
Land Assessment
$3,221,461 CAD
Improvements Assessment
$1,449,655 CAD
Total Assessment
$4,671,117 CAD
zoning
| Zoning Code | LAR3 |
| LAR3 |
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9 Units in Hollywood with Remaining Value-Add | 5622 La Mirada Ave
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