Silva Babaian  Realtor, Real Estate Agent, Granada Hills, CA

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    1825 Tamarind Ave, Los Angeles, CA 90028
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    1825 Tamarind Ave
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    • MLS#: 25478521 ( )
    • Street Address: 1825 Tamarind Ave
    • Viewed: 1
    • Price: $6,700,000
    • Price sqft: $0
    • Waterfront: No
    • Year Built: 1965
    • Bldg sqft: 0
    • Days On Market: 31
    • Additional Information
    • County: LOS ANGELES
    • City: Los Angeles
    • Zipcode: 90028
    • Provided by: Marcus & Millichap
    • Contact: Neema Neema
    • California Regional MLS IDX
    • DMCA Notice
    • Description
      This is a bankruptcy sale that will be subject to a court overbid. We are pleased to present 1825 Tamarind Ave, a multifamily investment opportunity totaling 33 units in prime Hollywood just south of Franklin Ave across the street from the Church of Scientology. The subject property consists of two structures featuring a unit mix of 20 singles, nine one bedrooms, three two bedrooms, and one three bedrooms; there are 33 parking spaces, a mix of tuck under parking and uncovered spaces at the rear of the property; nine units will be delivered vacant at the close of escrow, allowing an investor to renovate and achieve market rents immediately. True value add opportunity with the majority of the rents below market;5.35% CAP rate & 10.89 GRM at the asking price with an additional 28% rental upside; additionally, the abundant parking and storage spaces create an opportunity to add several ADU's via the newly passed SB1211 (Buyer to verify). Units are well maintained but can be enhanced through interior renovations to achieve market rents such as new flooring, recessed lighting or new fixtures, updated bathrooms & kitchens, and appliances. High walk score of 87, half of a mile from the Metro B rail line and walking distance to multiple Metro local lines along Franklin Ave. Major employers in Los Angeles such as Live Nation, Capitol Records, HBO and Netflix among many others. Significant affordability gap to home ownership in Hollywood. The monthly payment on a median priced home inclusive of condos is drastically higher than average rents in the area, which serves as a constant occupancy driver for apartment communities in Hollywood.
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    Features
    Building Area Total
    1. 17095.00
    Cooling
    1. None
    Country
    1. US
    Heating
    1. None
    Levels
    1. Three Or More
    Netoperatingincome
    1. 358220.00
    Parcel Number
    1. UNAVAILABLE
    Parking Features
    1. None
    Sourcesystemkey
    1. 25-478521:CLAW
    Totalexpenses
    1. 226061.00
    Year Built
    1. 1965
    Year Built Source
    1. Assessor
    Zoning
    1. R3-1
    Headshot for Associate Silva Babaian
    1. Silva Babaian / Realtor
    2. Coldwell Banker Exclusive
    3. CalBRE Lic # 01365805
    4. Mobile: 818.414.6744
    5. Fax: 818.338.5836