1156 Gordon Street

Los Angeles, CA 90038

$1,850,000

List Price

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bed Beds

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shower Baths

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straighten / sqft

1910

calendar_month Built

Property Description

We are pleased to present an unbeatable value add investment opportunity with immense rental upside in the heart of Hollywood! Standing on a +/- 6,504 sq ft. lot on the corner of Lexington Ave and Gordon St is a 6 unit building with 5 UNITS DELIVERED VACANT. There are 2 structures on the lot consisting of a 4 unit building and a duplex. All units are spacious and feature 1920's period details. Consists of six 1 bedroom / 1 bath units. The building has a newer roof, copper plumbing, and separate meters for gas and electric. The vacant units present the perfect opportunity to cosmetically remodel the interiors and achieve market rents. The occupied unit is already rented at close to market. When the vacant units are remodeled and rented, the building will generate approximately $150,288 in gross income and operate at a cap rate of at least 6%. The lot also includes 2 garages and an uncovered parking area, which can be used to build 1 or more ADUs for additional income. Less than 1 mile from the Netflix HQ, Paramount Pictures, and many other entertainment/media companies, the building is in a highly desirable rental market with close proximity to Hollywood attractions, the 101 freeway, and Downtown LA.

Listing Information

List Price $1,850,000
Status Active
MLS SR24242436
Type Residential Income
Subtype Apartment
Year Built 1910
Lot Size 6,506
Structure Size N/A
DOM 2
Courtesy Of Keller Williams Realty Calabasas
Listing Agent Anie Mayelian DRE#00778825
Co-Listing Agent Aleen Mayelian DRE#02198281

Interior Features

Laundry Information
Location(s) Common Area
Total Bedroom
Bedrooms N/A
Total Bathroom
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Exterior Information

Maps

Listing information courtesy of: Anie Mayelian, Aleen Mayelian, Keller Williams Realty Calabasas . *Based on information from the Association of REALTORS/Multiple Listing as of Dec 5th, 2024 at 2:08 AM 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.