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831 N Heliotrope Dr 8 Unit Apartment Building $2,461,014 CAD ($307,627 CAD/Unit) 3.18% Cap Rate Los Angeles, CA 90029
Investment Highlights
- Lender Owned
- Walking Distance to Metro Line Stop
- Desirable East Hollywood Location
- Renovated Furnished Units
- Across From LA City College
- 87 Walk Score
Executive Summary
831 N Heliotrope Avenue is located in the East Hollywood neighborhood of Los Angeles. Originally built in 1921 as a 4-unit multi-family building, the building has undergone renovations without city permits. The building now includes 4 additional units, bringing the total to 8 units. The two ground floor units have been converted into four units. The renovated units are a mixture of studio, 1 bedroom and 2 bedroom units. The covered garage spaces have been converted into two units. Because of the garage conversion, there is no onsite parking spaces available. There is onsite laundry facilities, which do not meet code requirements.
Property Facts
| Price | $2,461,014 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $307,627 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 3.18% | Building Size | 5,116 SF |
| Sale Condition | Distress Sale | Average Occupancy | 25% |
| Gross Rent Multiplier | 28.72 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1921 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | LARD1.5 - Residential | ||
| Price | $2,461,014 CAD |
| Price Per Unit | $307,627 CAD |
| Sale Type | Investment |
| Cap Rate | 3.18% |
| Sale Condition | Distress Sale |
| Gross Rent Multiplier | 28.72 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 5,116 SF |
| Average Occupancy | 25% |
| No. Stories | 2 |
| Year Built | 1921 |
| Opportunity Zone |
Yes |
| Zoning | LARD1.5 - Residential |
Amenities
Unit Amenities
- Den
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1.5 | 4 | - | - |
1 1
Walk Score®
Walker's Paradise (90)
Bike Score®
Very Bikeable (80)
Property Taxes
| Parcel Number | 5538-017-024 | Improvements Assessment | $652,661 CAD |
| Land Assessment | $1,522,876 CAD | Total Assessment | $2,175,536 CAD |
Property Taxes
Parcel Number
5538-017-024
Land Assessment
$1,522,876 CAD
Improvements Assessment
$652,661 CAD
Total Assessment
$2,175,536 CAD
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831 N Heliotrope Dr
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