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Description
FIXER - SEE THE ATTACHED OFFERING MEMORANDUM. 7 apartments in the entertainment capital of the world - Hollywood. Desirable to professionals, artists and families, it is ideally situated in a densely populated submarket near the 101 and in close proximity to a number of amenities. With rents well below market and at $306/SF, 5115 Clinton's value add opportunity is awaiting your investor’s creative touch. HIGH UPSIDE with rents 38% below market, increase 2X-3X by renovating. VALUE ADD POTENTIAL to increase CAP from current 3.82% to market 4.31%. NEW(ER) DEVELOPMENT throughout the immediate area. RE-DESIGN FLOORPLAN possibilities as the building has a raised foundation. ON-SITE AMENITIES include 7 gated parking spaces with 3 covered, laundry room, and storage lockers. SITE INFO: 7 units built in 1962 totaling 5,393 SF on a 6,268 SF lot: 4 - 2 BR/1.5 BA; 2 - 1 BR/1 BA; 1 - 0 BD/1 BA studio; 10 BR / 11 BA total (per assessor). HIGH UPSIDE with rents 38% below market, increase 2X to 3X by renovating. VALUE ADD POTENTIAL to increase CAP from current 3.82% to market 4.31%. NEW(ER) DEVELOPMENT throughout the immediate area. RE-DESIGN FLOORPLAN possibilities as the building has a raised foundation. ON-SITE AMENITIES include 7 gated parking spaces with 3 covered, laundry room, and storage lockers. SITE INFO: 7units built in 1962 totaling 5,393 SF on a 6,268 SF lot. * Four - 2 Bed / 1 . 5 Bath * Two - 1 Bed / 1 Bath * One - 0 Bed / 1 Bath Studio * 10 Bed / 11 Bath Total
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Listing Agent: David Rivera Courtesy of: Berkshire Hathaway HomeService The real estate listing information is provided by California Regional MLS, Inc. and/or CARETS® for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing or leasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of the California Regional MLS, Inc. and/or CARETS®. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns the web site. Information is deemed reliable but not guaranteed, and consumer is responsible for verifying the accuracy of all information. Copyright © California Regional MLS, Inc. and/or CARETS®. All Rights Reserved. Updated: 15th August, 2022 5:56 AM (UTC)
