1827 N Van Ness Avenue, Los Angeles, CA 90028

Property Description

1827 N Van Ness Ave, a 16 unit apartment building located in the heart of Hollywood, a prime neighborhood of Los Angeles, CA. Built in 1964, the property consists of (8) one-bedroom + one-bathroom units and (8) two-bedroom + two-bathroom units. The building is 14,300 gross square feet and sits on a 13,509 square foot lot.1827 N Van Ness Ave is located on a charming, tree-lined street in Hollywood. There is no shortage of activities to explore in the area. From popular hiking trails of Runyon Canyon and Griffith Park to seeing the Hollywood Walk of Fame.Hollywood's central location provides convenient access to major freeways, public transportation, and is only a 5-minute walk to the Hollywood Blvd Metro station further extending the area's connectivity to the rest of Los Angeles.1827 N Van Ness Ave represents a unique value-add opportunity for investors due to the property's location and rental upside. The property offers a initial CAP rate of 5.29% with the ability to improve to a7.22% CAP rate once units turnover.