Log In/Sign Up
Your email has been sent.
423 N Harvard Blvd 16 Unit Apartment Building $5,602,729 CAD ($350,171 CAD/Unit) 5.96% Cap Rate Los Angeles, CA 90004
INVESTMENT HIGHLIGHTS
- Rare opportunity to acquire a well-maintained property with strong cash-flow and considerable upside potential
- Excellent unit mix of 10 one-bedroom, one-bath units, 3 two-bedroom, one-bath, and 3 two-bedroom, two-bath units
- Close to major employment centers, including Hollywood, Downtown Los Angeles, Wilshire Center, Beverly Hills, and West Hollywood
- New roof, completed seismic retrofit, renovated units with updated kitchens, bathrooms, quartz countertops, modern flooring, new appliances, AC units
- RTI permits to build 4 ADUs. Ideal opportunity for a savvy investor to add significant value (Buyer to confirm)
- Positioned in an area with rich local amenities including some of LA’s hottest dining options, entertainment and cultural venues, shops, hotels
EXECUTIVE SUMMARY
Kidder Mathews, as the exclusive listing agent, is proud to present a rare opportunity to acquire 423 N Harvard Blvd, a 16-unit value-add property ideally located in one of Los Angeles’ most vibrant and rapidly evolving neighborhoods. Situated at the intersection of Beverly Boulevard and Western Avenue, this asset is positioned within close proximity to Koreatown, Hancock Park, Larchmont Village, Hollywood, and Silver Lake—areas known for their high demand and consistent growth.
Originally constructed in 1965, this two-story building spans approximately 11,797 square feet on a 14,373 square foot lot. The Property has been meticulously maintained and upgraded by the current owner, who has held the property for nearly 23 years, yet still offers substantial potential for further value enhancement. This asset is being sold with RTI (Ready to Issue) permits for four Accessory Dwelling Units (ADUs), presenting a significant opportunity to increase rental income (buyer to verify).
423 N Harvard Blvd offers investors a rare value-add opportunity with substantial upside potential. The property boasts a well-maintained unit mix of (10) one-bedroom, one-bath units, (3) two-bedroom, one-bath units, and (2) two-bedroom, two-bath units. Significant upgrades have already been made, including high-end finishes, modern flooring, remodeled kitchens with quartz countertops, new stainless-steel appliances, renovated bathrooms, new air conditioning units, ceiling fans, and extensive copper plumbing and electrical work. Additionally, the property features a recently installed roof and has completed the seismic soft-story retrofit.
The on-site amenities include laundry facilities, secured entry, and 16 parking spaces—an especially valuable feature in this high-demand area. While the property has been thoughtfully upgraded, there remains ample opportunity to add value. A strategic renovation program, coupled with the potential for ADU development and the implementation of RUBS (Ratio Utility Billing Systems) to recapture utility costs, can drive significant rental income growth.
423 N Harvard Blvd is situated in one of Los Angeles' most desirable and rapidly appreciating submarkets. The Property is conveniently located near Larchmont Village, Hancock Park, Koreatown, Hollywood, and Silver Lake—some of the city's most coveted and sought-after neighborhoods. The area is brimming with top-tier restaurants, entertainment options, fitness centers, and shopping destinations, making it an attractive location for tenants.
Given its prime location and the continued development of the surrounding area, 423 N Harvard Blvd offers investors an exceptional opportunity to capitalize on rental upside and value-add potential, ensuring long-term growth, appreciation, and strong returns.
Originally constructed in 1965, this two-story building spans approximately 11,797 square feet on a 14,373 square foot lot. The Property has been meticulously maintained and upgraded by the current owner, who has held the property for nearly 23 years, yet still offers substantial potential for further value enhancement. This asset is being sold with RTI (Ready to Issue) permits for four Accessory Dwelling Units (ADUs), presenting a significant opportunity to increase rental income (buyer to verify).
423 N Harvard Blvd offers investors a rare value-add opportunity with substantial upside potential. The property boasts a well-maintained unit mix of (10) one-bedroom, one-bath units, (3) two-bedroom, one-bath units, and (2) two-bedroom, two-bath units. Significant upgrades have already been made, including high-end finishes, modern flooring, remodeled kitchens with quartz countertops, new stainless-steel appliances, renovated bathrooms, new air conditioning units, ceiling fans, and extensive copper plumbing and electrical work. Additionally, the property features a recently installed roof and has completed the seismic soft-story retrofit.
The on-site amenities include laundry facilities, secured entry, and 16 parking spaces—an especially valuable feature in this high-demand area. While the property has been thoughtfully upgraded, there remains ample opportunity to add value. A strategic renovation program, coupled with the potential for ADU development and the implementation of RUBS (Ratio Utility Billing Systems) to recapture utility costs, can drive significant rental income growth.
423 N Harvard Blvd is situated in one of Los Angeles' most desirable and rapidly appreciating submarkets. The Property is conveniently located near Larchmont Village, Hancock Park, Koreatown, Hollywood, and Silver Lake—some of the city's most coveted and sought-after neighborhoods. The area is brimming with top-tier restaurants, entertainment options, fitness centers, and shopping destinations, making it an attractive location for tenants.
Given its prime location and the continued development of the surrounding area, 423 N Harvard Blvd offers investors an exceptional opportunity to capitalize on rental upside and value-add potential, ensuring long-term growth, appreciation, and strong returns.
PROPERTY FACTS
| Price | $5,602,729 CAD | Building Class | C |
| Price Per Unit | $350,171 CAD | Lot Size | 0.33 AC |
| Sale Type | Investment | Building Size | 11,797 SF |
| Cap Rate | 5.96% | Average Occupancy | 88% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | Parking Ratio | 1.78/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R3, Los Angeles - Multiple Dwelling | ||
| Price | $5,602,729 CAD |
| Price Per Unit | $350,171 CAD |
| Sale Type | Investment |
| Cap Rate | 5.96% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.33 AC |
| Building Size | 11,797 SF |
| Average Occupancy | 88% |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 1.78/1,000 SF |
| Zoning | R3, Los Angeles - Multiple Dwelling |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Freezer
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Tenant Controlled HVAC
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 12 | - | - |
| 2+1 | 2 | - | - |
| 2+2 | 2 | - | - |
1 1
Walk Score®
Walker's Paradise (90)
PROPERTY TAXES
| Parcel Number | 5521-025-021 | Improvements Assessment | $891,773 CAD |
| Land Assessment | $1,320,406 CAD | Total Assessment | $2,212,179 CAD |
PROPERTY TAXES
Parcel Number
5521-025-021
Land Assessment
$1,320,406 CAD
Improvements Assessment
$891,773 CAD
Total Assessment
$2,212,179 CAD
1 of 71
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
423 N Harvard Blvd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.