Description
4.14% CAP Rate on in Place Rents and Over 35% Rental Upside Potential, 5806 La Mirada is a unique value add property for sale in the heart of Hollywood! 5806 La Mirada is an eight (8) unit apartment building with all 1Bedroom/1Bath Units. All the units are individually metered for gas & electric. Unit number 2 is currently Vacant and will be delivered vacant upon COE. Out of the eight total units, six of the occupied renters are currently Section 8 renters making this investment a strong safety net against concerns of tenants inability to pay rent due to COVID-19 complications. This is a very low maintenance property with minor operating expenses. There is a laundry facility on-site for additional income that is currently being leased by the landlord. This property is fully parked with (8) total parking spaces - making this property very valuable as historically, most properties in Hollywood are severely under parked. No Soft Story Retrofit Requirements.
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8BEDS
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0.17ACRES
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0BATHS
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01/2 BATHS
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5,481SQFT
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$338$/SQFT
School Ratings & Info
Description
4.14% CAP Rate on in Place Rents and Over 35% Rental Upside Potential, 5806 La Mirada is a unique value add property for sale in the heart of Hollywood! 5806 La Mirada is an eight (8) unit apartment building with all 1Bedroom/1Bath Units. All the units are individually metered for gas & electric. Unit number 2 is currently Vacant and will be delivered vacant upon COE. Out of the eight total units, six of the occupied renters are currently Section 8 renters making this investment a strong safety net against concerns of tenants inability to pay rent due to COVID-19 complications. This is a very low maintenance property with minor operating expenses. There is a laundry facility on-site for additional income that is currently being leased by the landlord. This property is fully parked with (8) total parking spaces - making this property very valuable as historically, most properties in Hollywood are severely under parked. No Soft Story Retrofit Requirements.
Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-02-27T16:42:23.227. 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.