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1042 Wilcox Ave, Los Angeles, CA 90038
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1042 Wilcox Ave Los Angeles, CA 90038

$5,300,000
  • 0 Beds
  • 38 Baths
  • 9,880 Sq.Ft.
For Sale
$5,300,000 Get Pre-Qualified
Map preview of 1042 Wilcox Ave, Los Angeles, CA 90038

Property Overview: 1042 Wilcox Ave Los Angeles, CA has -- bedrooms, 38 bathrooms, 9,880 living square feet and 6,133 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: Wow! We are pleased to present for sale a true value-add investment opportunity located in the heart of Hollywood. With ~58% of the building vacant, a new buyer has a fantastic opportunity to transform this residential hotel/apartment building into a Cash Cow! Known as the El Nido Hotel, the subject property consists of 38 studios with individual baths in each unit and is currently being rented on a monthly/weekly basis. 22 of the 38 units are currently vacant giving an investor the ability to renovate these units and re-rent at market rate. Monthly rent is estimated to be in excess of $42,000/month once vacancies are filled, yielding an incredible cap rate of 6.5%!! (monthly proforma of over $51,000/month in income once all units are turned over!) The El Nido boasts a Walk Score of 95 and is in close proximity to shopping, dining, entertainment, studios, transit, and so much more! Lots of new development in the area (Tesla's new supercharging station with restaurant and movie screens opening less than a mile away!). Do not miss this opportunity to purchase an asset with tons of upside in a phenomenal location with high rental demand. Bankruptcy court sale, subject to overbid. Contact listing agent for more details or to schedule a showing!

Listed by Daniel Shamooelian | BRE #01984269 | Keller Williams Beverly Hills
Last checked: 5 minutes ago | Last updated: April 17th, 2024 | Source CRMLS | DOM: 20
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Home details

Lot Sq. Ft
6,133
HOA Dues
$0/mo
Year built
1928
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24375697
City
Los Angeles
County
Los Angeles
Time on Site
22 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 38
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 38
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $42,516
  • Total Rent: $42,516
  • Pro Forma/Market Rent: $51,300
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.5%
  • Gross Rent Multiplier: 10.3
  • Gross Scheduled Income: --
  • Net Operating Income: $343,645
  • Gross Operating Income: $510,187
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 1042 Wilcox Ave

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Property Details for 1042 Wilcox Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • No
  • Parking Features: None
Property Information
  • Total # of Units: 38
  • Parcel Number: 5533014019
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: South of Santa Monica Blvd, North of Melrose Ave, East of Highland Ave, West of Vine St
View more facts & features

Local Los Angeles Agent

Sale History for 1042 Wilcox Ave

Last sold for $500,000 on October 7th, 1993

  • April, 2024

  • Apr 9, 2024

    Date

    Active

    CRMLS: 24375697

    $5,300,000

    Price

  • October, 1993

  • Oct 7, 1993

    Date

    Sold (Public Records)

    Public Records

    $500,000

    Price

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Tax History for 1042 Wilcox Ave

Assessed Value (2020): $777,054
Year Land Value Improved Value Assessed Value
2020 $388,527 $388,527 $777,054

Home Value Compared to the Market

This property vs the competition

1042 Wilcox Ave is listed 332.65% higher than the median list price for the city of Los Angeles which has a median list price of $1,225,000. The median price per/sqft for Los Angeles is $774 and this home is listed at $536.44 per/sqft which puts the price per square foot 30.69% lower than the median price per square foot for the city of Los Angeles.

About 1042 Wilcox Ave

Detailed summary of property

1042 Wilcox Ave is a multi family located in Los Angeles, CA 90038 and is currently for sale. This multi family property offers -- bedrooms, 38 bathrooms, roughly 9,880 living square feet, and sits on an approximately 6,133 square foot lot. 1042 Wilcox Ave was first listed on ArdentRealEstateGroup.com on April 9, 2024. The homeowner is currently asking $5,300,000. The median priced home in Los Angeles is $1,225,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 332.65% higher than the median priced home. Local competing homes currently for sale include 4171 W 4th St, 722 S Manhattan Pl and 514 S Mariposa Ave. While the average home in Los Angeles, CA is selling in 96 days, 1042 Wilcox Ave has a days on market of 20 days. There are currently 3485 homes for sale in the Los Angeles real estate market and 2372 of them are single family homes while 1013 of them are condos and 94 are townhomes. For more information on this home for sale at 1042 Wilcox Ave Los Angeles, CA 90038 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1042 Wilcox Ave

Public county record property details
Beds
--
Baths
--
Year built
1928
Sq. Ft.
9,880
Lot Size
6,131
Stories
2
Type
Hotel
Pool
No
Spa
No
County
Los Angeles
Lot#
23
APN
5533-014-019

The source for these homes facts are from public records.

90038 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,299,000
Median List Price/Sq.Ft.
$709
Median Sold Price
$715,000
Median Sold Price/Sq.Ft.
$659
Total Inventory
40
Median Sale to List Price %
79.44%
Avg Days on Market
17
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (50%), Other (0%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.

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