Address
1862 N Van Ness Avenue Los Angeles, CA
Price
$ 2,075,000
Property Attributes
  • MLS#21781904
  • TypeContingent
  • CountyLOS ANGELES
  • CityLos Angeles
  • AreaHollywood
  • Zip90028
  • Style
  • Price$ 2,075,000
  • Bedrooms8
  • Full Bathrooms6
  • Half Bathrooms0
  • Sqr Footage5638
  • Lot Size10,192 SqFt
Listing Provided Courtesy Of:
Neema Ahadian with Marcus & Millichap
Data Source:
Combined LA/Westside MLS (CLAW) - 318 - CA
Property Description

1862 Van Ness Avenue, in Hollywood, CA. Built in 1921, this unique property made up of six units will be delivered with two units vacant (two one-bedrooms). This is an ideal investment opportunity located in a prime area of Hollywood with strong cashflow at a 4.66% CAP rate on current income with additional 19% rental upside.The building features a unit mix made up of one-bedrooms and two-bedrooms, each with spacious layouts. The property comes with 3 garage spaces as well as four open spaces in the back of the building for a total of seven parking spaces. There is no soft story retrofit required. The units are separately metered for gas & electric, have individual water heaters as well as central air and ceiling fans throughout. Furthermore, there is in-unit laundry in three of the units and the two-bedrooms feature large private balconies. This exclusive pocket of Hollywood remains one of the most desirable addresses for both living and working. With the median household income continuing to rise and average home value of over $1 million within three miles, the demand for apartment units increases year-over-year exemplified with surrounding new residential and office developments as well as major employers established in the submarket. 1862 Van Ness Avenue is ideally situated to benefit from this economic growth as thousands of new high-paying jobs are within walking distance. The subject property has a walk score of 86 with unparalleled access to nightlife, dining, education and employment opportunities.

Price History
9/9/2021 Listed $2,075,000

General Features

Appliances Microwave, Refrigerator
Flooring Laminate, Tile, Wood
Heating Natural Gas
Interior Features Ceiling Fan(s)
Listing Agent Neema Ahadian - BRE#01346750
Listing Agent State License 01346750
Lot Size Square Feet 10192
MLS Area C20 - Hollywood
Property Type Residential Income
Senior Community Y/N No
Special Listing Conditions Standard
Status Active Under Contract
Total Units 6
Zoning RD1.5-1XL

Interior Features

Heating Y/N Yes

Exterior Features

Lot Size Acres 0.23
Lot Size Area 10192
Lot Size Units Square Feet
Number of Buildings 1
Parking Features Gated

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Contingent Average in 90028

Price
AVG $2.97M
$2.08M
Visits
AVG 30
3
Year Built
AVG 1978
1921
Walkscore
AVG 90
86
Data Provided by Walkscore ® not using MLS data

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