4956 Romaine Street, Los Angeles, CA 90029
- $2,495,000
- 16
- BD
- 16
- BA
- 11,326
- SqFt
- List Price
- $2,495,000
- Price Change
- ▼ $105,000 1779924814
- Status
- ACTIVE UNDER CONTRACT
- MLS#
- 25631175
- Year Built
- 1964
- Bedrooms
- 16
- Bathrooms
- 16
- Living Sq. Ft
- 11,326
- Lot Size
- 9,902
- Acres
- 0.23
- Days on Market
- 217
- Property Type
- Multifamily
- Stories
- Two Levels
Property Description
BACK ON MARKET - Buyer didn't perform. Prime Hollywood investment opportunity featuring 16 one-bedroom, one-bathroom units, each with its own assigned parking space. Offered at $2,600,000 (approximately $162,500 per unit), this well-maintained asset delivers strong in-place income with a cap rate of approximately 6.25% and immediate upside. One vacant unit allows a new owner to lease at market and increase cash flow from day one, with additional upside through rent growth and operational improvements. The excellent unit mix, favorable parking ratio, and sought-after Hollywood location make this a compelling opportunity for both value-add and long-term investors.
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Additional Information
- Cooling Description
- None
- Attached Structure
- Detached
- Number Of Units Total
- 16
Listing courtesy of Listing Agent: George Morales (georgemorales@compass.com) from Listing Office: Compass.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.