Exclusive Listings

20-unit Semi Value add in prime Hollywood, walk to Hollywood Blvd, 19% rental upside

Address:
6666 Yucca St
Los Angeles, CA 90028
Price:
$7,650,000
Status:
Available
Type:
Apartment
# Units:
20
Year Built:
1955
Building Size:
11,915SF
Lot Size:
15,318 SF
CAP Rate:
3.68%
GRM:
17.41x
Price/Unit:
$383,000
Price/SqFt:
$642

INVESTMENT HIGHLIGHTS

  • Superb location! Walk to Hollywood Blvd, Hollywood & Highland mall, Hollywood Walk of Fame, El Capitan Theater, Amoeba Music, TCL Chinese Theatre, and other iconic destinations in Hollywood and on Hollywood Blvd
  • 20-unit Semi-value-add garden style apartment with an estimated ±19% in rental upside potential.
  • Walker’s Paradise – walk score 97!
  • Excellent access to FWY 101, superb access to public transportations & Hollywood & Highland Metro station
  • Extremely easy to rent asset and location.
  • Completely renovated in 2019 with top-of-the-line upgrades; new owner can operate and increase rents upon turnover; No expensive tenant buyouts and unit upgrades are needed!
  • Perfect for a long-term hold or 1031 exchange investor

 

PROPERTY HIGHLIGHTS

  • Attractive garden style apartment with excellent curb appeal
  • Attractive unit mix with combination of 2 bed, 1 bath and Studio units
  • Completely upgraded in 2019: new exterior painting, double pane windows throughout, new landscaping, completely upgraded units
  • NO soft story parking retrofit required!
  • All units have been completely upgraded (new kitchen, new bathroom, new flooring, new modern fixtures, A/C in each bedroom, and in-unit laundry)
  • Partial list of upgrades: new plumbing, new electrical, new gates and entry, new front doors, new security cameras installed, new landscaping, etc.
  • Separately metered for electricity and gas, secured entrance, partially gated parking, security camera system installed, and a beautiful center courtyard

 

EXECUTIVE SUMMARY

The Growth Investment Group as the exclusive listing agent is proud to offer HOLLYWOOD YUCCA GARDENS, a 20-unit garden style semi-value-add apartment investment opportunity located in the heart of Hollywood, CA. The property is a block away from the world renown Hollywood Blvd and literally within walking distance to the some of the most iconic Hollywood destinations such as El Capitan Theatre, Word Famous Hollywood Walk of Fame, TCL Chinese Theatre, Hollywood & Highland, Amoeba, Netflix, Madame Tussauds Hollywood, Equinox, Arclight, and much more! This opportunity provides rare opportunity for an astute investor to own a pride-of-ownership and beautifully upgraded apartment building in one of the best locations in Greater Los Angeles Area.  Because of this extremely great location, it has a Walk Score 97 out of 100, demonstrating a “WALKER’s PARADISE” location.

The property is an attractive two-story garden style community with that was built in 1955 with ±11,915 SF building size and situated on a ±15,318 SF lot size. It has excellent curb appeal with a beautiful center courtyard. The property has been completely upgraded in 2019 (new plumbing, new electrical, new landscaping, new paint throughout, new windows, new gate & entry, etc.)

It offers an attractive unit mix of two (2) 2bed+2bath, fourteen (14) 1bed+1bath, and four (4) Studio units. Each unit is large and functional with upgrades throughout. Each unit has luxury wood plank flooring, new kitchen (quartz countertops, new modern kitchen cabinets, new range oven, microwave), new bathroom (new tub, new vanity cabinets), in-unit washer and dryer, new lighting fixtures, windows A/C in living room and each bedroom. The building has secured entrance with gated parking and security camera system installed.  All the windows have been upgraded to dual pane windows, new landscaping throughout.

The property is separately metered for electricity. New owner does not have to spend large amount of capital for tenant buyouts and unit upgrades. The property offers 18 open space parking (no soft story parking retrofit is required) and is served by master water heater.




Due Diligence


Broker Contact

Han Widjaja-Chen
Direct: 626.594.4900
han.chen@growthinvestmentgroup.com

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