15
See all 15 photos
$6,700,000
Est. payment /mo
19 BD
38 BA
17,095 SqFt
New
1825 Tamarind Ave Los Angeles, CA 90028
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
UPDATED:
01/08/2025 09:45 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 17,095 sqft
Price per Sqft $391
MLS Listing ID 25478521
Bedrooms 19
HOA Y/N No
Year Built 1965
Lot Size 0.425 Acres
Property Description
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.
Location
State CA
County Los Angeles
Area C20 - Hollywood
Zoning R3-1
Interior
Heating None
Cooling None
Fireplace No
Exterior
Parking Features None
Total Parking Spaces 33
Building
Story 3
Entry Level Three Or More
Level or Stories Three Or More
New Construction No
Others
Senior Community No
Tax ID UNAVAILABLE
Special Listing Condition Standard
Listed by Neema Ahadian • Marcus & Millichap