1129 Lodi Place

Los Angeles, CA 90038

$3,100,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $594 / sqft

1953

calendar_month Built

Property Description

Huge 700k Price Reduction! 8-unit building with 7 fully renovated units in Prime Hollywood cash flowing at an incredible Current Cap Rate of 6.1% and 11.9 GRM from day 1! The 7 units have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, new Mini Split AC systems, stainless steel appliances, washer/dryer inside, as well as major exterior capital improvements (4 vacant). The unit mix provides unparalleled versatility, including 2 spacious (2bed/3bath) units ideal for families, as well as 6 modern (1bed/1bath) units perfect for individuals seeking comfort and style. Each unit is individually metered for gas and electricity, ensuring convenience and efficiency. On top of that, the major systems have been updated including electrical, plumbing, HVAC, etc. Furthermore, there's an additional upside to 6.9% Cap Rate and 10.7 GRM on proforma. The property is located in the heart of the Hollywood entertainment industry just minutes away from Netflix studios, Paramount Studios, and Netflix Corporate office. Located just steps away from the world-famous Sunset Blvd, the property offers close proximity to neighborhood attractions, restaurants, bars, and shops such as the Hollywood Walk of Fame, Highlight Room, TAO, Bar-Lis, Dream Hotel, Thompson Hotel, and many more popping up all around the area.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A

Listing Information

Address 1129 Lodi Place
City Los Angeles
State CA
Zip 90038
County Los Angeles
Listing Agent Armin Soleimani DRE#01846872
Co-Listing Agent Julio Ruiz DRE#01911261
Courtesy Of Global Platinum Properties, Inc.
MLS 24365933
List Price $3,100,000
Status Active
Type Residential Income
Structure Size N/A
Lot Size 6,766
Year Built 1953
DOM 36

Exterior Information

Maps

Listing information courtesy of: Armin Soleimani, Julio Ruiz, Global Platinum Properties, Inc. . *Based on information from the Association of REALTORS/Multiple Listing as of Apr 10th, 2024 at 3:03 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.