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1256 N Hobart Blvd 4 Unit Apartment Building $3,561,012 CAD ($890,253 CAD/Unit) 4.68% Cap Rate Los Angeles, CA 90029
Investment Highlights
- Built in 2018 with modern design and high-quality finishes.
- Tenants pay all utilities, reducing operating costs.
- Significant upside potential with 21% rent growth opportunity.
- Strong unit mix with large floor plans averaging 1,241 SF.
- Located in East Hollywood, one of LA’s most desirable rental markets.
- Convenient access to Hollywood Bowl, Griffith Observatory, and major transit.
Executive Summary
Kidder Mathews is pleased to present 1256 N Hobart Boulevard, a premier 4-unit multifamily investment opportunity located in the highly desirable Little Armenia neighborhood of East Hollywood, Los Angeles. Built in 2018, this modern property offers a rare combination of new construction, strong operating fundamentals, and an ideal layout for both investors and owner-users.
The building spans 4,964 square feet on a 6,626-square-foot lot and features exceptionally large units averaging approximately 1,241 square feet. The unit mix includes two 2-bedroom, 2.5-bath units, one 3-bedroom, 3-bath unit, and one 4-bedroom, 3-bath unit—perfect for families or shared living arrangements. Tenants pay all utilities, ensuring efficient operations and reduced ownership expenses. Offered at $2,600,000, this property represents a compelling opportunity with a current cap rate of 4.68% and significant upside potential, as market rents indicate a 21% increase over current income.
Located in one of Los Angeles’ most vibrant and supply-constrained rental markets, the property benefits from proximity to major employment hubs, entertainment destinations, and cultural landmarks. East Hollywood is experiencing a surge of redevelopment, with nearly $5 billion in current and planned projects, making this an exceptional long-term investment in a high-demand submarket.
The building spans 4,964 square feet on a 6,626-square-foot lot and features exceptionally large units averaging approximately 1,241 square feet. The unit mix includes two 2-bedroom, 2.5-bath units, one 3-bedroom, 3-bath unit, and one 4-bedroom, 3-bath unit—perfect for families or shared living arrangements. Tenants pay all utilities, ensuring efficient operations and reduced ownership expenses. Offered at $2,600,000, this property represents a compelling opportunity with a current cap rate of 4.68% and significant upside potential, as market rents indicate a 21% increase over current income.
Located in one of Los Angeles’ most vibrant and supply-constrained rental markets, the property benefits from proximity to major employment hubs, entertainment destinations, and cultural landmarks. East Hollywood is experiencing a surge of redevelopment, with nearly $5 billion in current and planned projects, making this an exceptional long-term investment in a high-demand submarket.
Property Facts
| Price | $3,561,012 CAD | Building Class | B |
| Price Per Unit | $890,253 CAD | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 4,964 SF |
| Cap Rate | 4.68% | No. Stories | 2 |
| No. Units | 4 | Year Built | 2018 |
| Property Type | Multifamily | Parking Ratio | 1.63/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | LARD1.5 | ||
| Price | $3,561,012 CAD |
| Price Per Unit | $890,253 CAD |
| Sale Type | Investment |
| Cap Rate | 4.68% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.15 AC |
| Building Size | 4,964 SF |
| No. Stories | 2 |
| Year Built | 2018 |
| Parking Ratio | 1.63/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LARD1.5 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer Hookup
- Tile Floors
- Kitchen
- Hardwood Floors
- Sprinkler System
- Stainless Steel Appliances
- Range
- Walk-In Closets
- Yard
- Freezer
- Lawn
- Patio
Site Amenities
- Fenced Lot
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | - |
1 1
Walk Score®
Walker's Paradise (91)
Bike Score®
Very Bikeable (71)
Property Taxes
| Parcel Number | 5537-012-007 | Improvements Assessment | $1,344,273 CAD |
| Land Assessment | $2,016,413 CAD | Total Assessment | $3,360,687 CAD |
Property Taxes
Parcel Number
5537-012-007
Land Assessment
$2,016,413 CAD
Improvements Assessment
$1,344,273 CAD
Total Assessment
$3,360,687 CAD
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1256 N Hobart Blvd
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