Description
Opportunity - 6508 Cerritos Place offers investors the ability to own a multi-family asset in prime Hollywood with the potential to update and renovate three vacant units and work on the loss-to-lease in the occupied units. | Great Unit-Mix - All units consist of 2 Bed / 1 Bath. Four of the eight units on the ground floor have their own private patio and separate entrance on the rear of property. This allows for a wide tenant base including roommates, small families, or single occupants with dedicated office space which has become very popular during the pandemic. | Rental Upside - Five of the eight units offer upside of approximately 20% once turned and rehabbed. Furthermore, the area supports historical strong rent growth which will further increase the total income over the long-term. | On-Site Amenities - On-site amenities include communal laundry room, open and secured parking for 5 cars, gated secured entrance to each unit, and each units is equipped with central air and heat.
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16BEDS
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0.18ACRES
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0BATHS
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01/2 BATHS
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6,620SQFT
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$498$/SQFT
School Ratings & Info
Description
Opportunity - 6508 Cerritos Place offers investors the ability to own a multi-family asset in prime Hollywood with the potential to update and renovate three vacant units and work on the loss-to-lease in the occupied units. | Great Unit-Mix - All units consist of 2 Bed / 1 Bath. Four of the eight units on the ground floor have their own private patio and separate entrance on the rear of property. This allows for a wide tenant base including roommates, small families, or single occupants with dedicated office space which has become very popular during the pandemic. | Rental Upside - Five of the eight units offer upside of approximately 20% once turned and rehabbed. Furthermore, the area supports historical strong rent growth which will further increase the total income over the long-term. | On-Site Amenities - On-site amenities include communal laundry room, open and secured parking for 5 cars, gated secured entrance to each unit, and each units is equipped with central air and heat.
Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-02-24T20:43:10.697. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.