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6705 De Longpre Ave
Los Angeles, CA 90028
Multifamily Property For Sale
·
20 Units
Executive Summary
The Azzi Group of Marcus & Milichap is pleased to present the opportunity to acquire 6705 De Longpre Ave, a 20-unit multifamily apartment building in the Hollywood submarket of Los Angeles, CA 90028.
Offered at $3.75 million ($187,500 per unit), this 20-unit studio community presents investors with an attractive basis in one of Los Angeles' most established multifamily submarkets. Studio rent comparable support the projected underwriting, with average asking rents of approximately $1,563, providing a clear path for future rental growth and revenue upside. The property benefits from a highly walkable location near both Sunset Boulevard and Hollywood Boulevard, offering residents convenient access to popular dining, shopping, entertainment, and neighborhood amenities. Ownership has completed several key capital improvements, including new electrical panels and new community laundry machines, helping to reduce future capital expenditure requirements. Additionally, the property offers 20 on-site parking spaces—one space per unit—a highly desirable amenity in the competitive Hollywood rental market.
Offered at $3.75 million ($187,500 per unit), this 20-unit studio community presents investors with an attractive basis in one of Los Angeles' most established multifamily submarkets. Studio rent comparable support the projected underwriting, with average asking rents of approximately $1,563, providing a clear path for future rental growth and revenue upside. The property benefits from a highly walkable location near both Sunset Boulevard and Hollywood Boulevard, offering residents convenient access to popular dining, shopping, entertainment, and neighborhood amenities. Ownership has completed several key capital improvements, including new electrical panels and new community laundry machines, helping to reduce future capital expenditure requirements. Additionally, the property offers 20 on-site parking spaces—one space per unit—a highly desirable amenity in the competitive Hollywood rental market.
Property Facts
| Price Per Unit | $263,812 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.27 AC |
| Cap Rate | 5.45% | Building Size | 9,056 SF |
| Gross Rent Multiplier | 10.48 | No. Stories | 2 |
| No. Units | 20 | Year Built | 1951 |
| Property Type | Multifamily | Parking Ratio | 2.43/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R4-2, Los Angeles - Residential | ||
| Price Per Unit | $263,812 CAD |
| Sale Type | Investment |
| Cap Rate | 5.45% |
| Gross Rent Multiplier | 10.48 |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 9,056 SF |
| No. Stories | 2 |
| Year Built | 1951 |
| Parking Ratio | 2.43/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R4-2, Los Angeles - Residential |
Amenities
Unit Amenities
- Heating
- Kitchen
Site Amenities
- Courtyard
- Laundry Facilities
- Security System
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 20 | - | 450 |
Property Taxes
| Parcel Number | 5547-021-019 | Improvements Assessment | $553,898 CAD |
| Land Assessment | $761,010 CAD | Total Assessment | $1,314,908 CAD |
Property Taxes
Parcel Number
5547-021-019
Land Assessment
$761,010 CAD
Improvements Assessment
$553,898 CAD
Total Assessment
$1,314,908 CAD
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