1220 N Van Ness Ave 9 Unit Apartment Building $2,240,620 CAD ($248,958 CAD/Unit) 6.52% Cap Rate Los Angeles, CA 90038

1220 N Van Ness Ave is a well-maintained 9-unit apartment located in the heart of Hollywood! Built in 1961, the property features seven (7) 1+1 units and two (2) 2+2 units, totaling approximately 6,480 SF of rentable space on a 7,364 SF LAR3-zoned corner lot! It includes eight tandem parking spaces and two (2) additional tuck under spaces at the rear. The property is separately metered for gas and electricity, has completed its seismic retrofit, and presents significant rental upside potential! Additionally, there is a laundry room that is currently not being utilized that could provide additional income in the future. One (1) unit currently VACANT!
Situated near Sunset Blvd and Wilton Pl, it benefits from its prime location within Hollywood's thriving residential and commercial core. The property is ideally positioned near major employment centers, entertainment studios, post-production houses, retail corridors, and hospitals. Rated "Very Walkable" with a Walk Score of 88, the property offers easy access to the restaurants, cafes, and shopping the area is known and loved for. Nearby popular destinations include Osteria La Buca, Ggiata Delicatessen, and Great White. Located near Echelon Studios Complex a project of 550,000 SF of new production studio, office, and retail space set to be completed this year. The property also provides excellent and easy access to the 101 Freeway, along with close proximity to the Metro B Line (Red Line).