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5611 Hollywood Boulevard

Hollywood, CA 90028
  • $5,500,000
  • STATUS: Active
  • ON SITE: 61 Days
  • ID#: PW22056189
UPDATED: 20 min ago
$5,500,000
  • 0
    BEDS
  • 0.34
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1922
County:

School Ratings & Info

Listing Agent(s): Jonathan Long of Ardent Real Estate Group, Inc. (714-396-6848) and Gabe Garcia of Ardent Real Estate Group, Inc.(714-396-6848)


Description

We are proud to present this one-of-a-kind investment opportunity with two properties on one parcel! This mixed-use parcel has an eight-unit apartment complex as well as a commercial office/retail building. The eight-unit apartment complex has a total of 3 two bed apartments, 4 one bed apartments, and 1 studio apartment. All the units are in great condition and provide a very consistent income flow. The neighboring commercial building has a total of 6 storefronts on the first level and 13 offices directly above. The substantial foot traffic that Hollywood Blvd. generates make this a prime location for any business as well as a fantastic place to live due to the abundance of nearby amenities. Lastly, there is highly profitable billboard atop the property with virtually no maintenance providing yet another easy source of revenue to the deal. Total building sqft is approximately 19,636 and sits on an estimated 15,011 sqft lot. This mixed-use parcel and the neighboring listing at 5601 Hollywood Blvd. (MLS# PW22054626) are part of a package deal with the option to be sold separate of one another. Split pricing will be $5.5 million for this mixed-use parcel and $8.5 million for the motel next door. Buyer must comply with the sellers' 1031 exchange. Please call with any questions or requests for additional information.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-22T09:30:41.713. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Ivan and Maria | Real Estate One. Licensed in the State of California, USA.
www.ivanandmaria.com/homes/126927470
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5611 Hollywood Boulevard Hollywood, CA 90028

  • Price: $5,500,000
  • Status: Active
  • On Site: 61 Days
  • Updated: 20 min ago
  • ID#: PW22056189
0
Beds
0
Baths
0
½ Baths
0.34
Acres
1922
Built
Neighborhood:
C20 - Hollywood
County:
Los Angeles
Area:
C20 - Hollywood
Property Description
We are proud to present this one-of-a-kind investment opportunity with two properties on one parcel! This mixed-use parcel has an eight-unit apartment complex as well as a commercial office/retail building. The eight-unit apartment complex has a total of 3 two bed apartments, 4 one bed apartments, and 1 studio apartment. All the units are in great condition and provide a very consistent income flow. The neighboring commercial building has a total of 6 storefronts on the first level and 13 offices directly above. The substantial foot traffic that Hollywood Blvd. generates make this a prime location for any business as well as a fantastic place to live due to the abundance of nearby amenities. Lastly, there is highly profitable billboard atop the property with virtually no maintenance providing yet another easy source of revenue to the deal. Total building sqft is approximately 19,636 and sits on an estimated 15,011 sqft lot. This mixed-use parcel and the neighboring listing at 5601 Hollywood Blvd. (MLS# PW22054626) are part of a package deal with the option to be sold separate of one another. Split pricing will be $5.5 million for this mixed-use parcel and $8.5 million for the motel next door. Buyer must comply with the sellers' 1031 exchange. Please call with any questions or requests for additional information.
Exterior Features

Lot Features 0-1 Unit/Acre Sign On Property YN No

Interior Features

Cooling Central Air Cooling YN Yes Heating Central Heating YN Yes

Property Features

Additional Parcels YN No Cap Rate 8.3 Common Interest None Electric Expense 17277 Gross Scheduled Income 525546 Insurance Expense 14061 Laundry Features None Lease Considered YN No Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To Existing LoanCash To New LoanConventional1031 Exchange Maintenance Expense 7020 Net Operating Income 456119.88 Operating Expense 69426.12 Other Expense 1608 Property Sub Type Mixed Use Special Listing Conditions Standard Water Sewer Expense 12335 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-22T09:30:41.713. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Ivan and Maria | Real Estate One. Licensed in the State of California, USA.
 
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Ivan and Maria | Real Estate One
3400 Central Ave Suite 325
Riverside CA, 92506
Listing Agent(s): Jonathan Long of Ardent Real Estate Group, Inc. (714-396-6848) and Gabe Garcia of Ardent Real Estate Group, Inc.(714-396-6848)