5814 Virginia is priced to sell and is the cheapest fourplex on the market in Hollywood. Please note, the seller is extremely motivated and looking to close by year end. This value-add property in Hollywood offers a solid in-place 4.54% CAP rate with the opportunity for 44% rental upside. Located just north of Santa Monica Blvd. (between Gower St. & Van Ness Ave.), 5814 Virginia is centrally located to several neighborhood thoroughfares filled with an array of independent businesses, major Hollywood employers (Sunset Gower Studios, Paramount, Netflix, Hollywood Presbyterian, CHLA) and a city college (LACC). The property is comprised of (2) 1-bdrm. units and (2) studio units, residing on a 7,500 SF lot, that currently generates approx. $5,700+ in gross monthly income. Based on renovated units in the area, we believe the future owner could generate approx. $7,600+ in gross monthly income and operate the fourplex at a 6.71% market CAP and 10.77 market GRM. Additional property amenities include (4) 1-car garages and a community laundry room.
Details for 5814 VIRGINIA AVE
Price per square foot and days on website are not provided values and are calculated by RE/MAX.
Listing Office Compass, 310-230-5478
Updated 5:09AM - 12/4/2022
Listing Agent Max Berger, 818-321-4972
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Area Information for 5814 VIRGINIA AVE
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