1639 S Hobart Blvd Los Angeles, CA 90006

• March, 2024

• Mar 4, 2024

  Date

  Active

  CRMLS: 24364967

  $3,650,000

  Price

• January, 2024

• Jan 4, 2024

  Date

  Canceled

  CRMLS: 23330751

  $2,795,000

  Price

• Nov 9, 2023

  Date

  Active

  CRMLS: 23330751

  $2,795,000

  Price

• Listing provided courtesy of CRMLS

  Huge 400k Price drop alert! 14-unit value-add opportunity with a remarkable Current Cap Rate of 6.5% and 11.1 GRM and an incredible 65% upside potential to 12.1% Cap Rate and 6.6 GRM on proforma. Located in prime Mid City, this property is offered at an unbelievable price of only 199k/unit and $323/SF, making it too good to pass up. Plus, there are Fully Approved RTI plans to add 3 Attached ADUs to improve the numbers to only 164k/unit, 8.8% Cap Rate, and 8.5 GRM on current. 4 of the units have been already fully remodeled with permits and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. Additionally, each unit is individually metered for gas and electricity while tenants cover garbage fees - saving you money on utilities from day one. The large 10,015 SF lot comes complete with gated parking spaces that can accommodate up to twelve cars and requires no soft-story retrofitting. Nearly RTI plans have already been drafted to add 2 additional Detached ADUs over the carport - adding even more income-generating potential! And let's not forget about its unbeatable location near popular neighborhood attractions like Alibi Coffee Co. , Starbucks, Koreatown, DTLA, Culver City, and public transportation options all while being in close proximity to major freeways ensuring smooth travel times within Los Angeles city limits. Don't wait another moment to grab this rare opportunity before it slips away!

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• November, 2023

• Nov 7, 2023

  Date

  Canceled

  CRMLS: 23315319

  $2,795,000

  Price

• Sep 26, 2023

  Date

  Active

  CRMLS: 23315319

  $2,895,000

  Price

• Listing provided courtesy of CRMLS

  Huge 400k Price drop alert! 100% occupied 14-unit value-add opportunity with a remarkable Current Cap Rate of 6.15% and 11.6 GRM and an incredible 65% upside potential to 11.5% Cap Rate and 7 GRM on proforma. Located in prime Mid City, this property is offered at an unbelievable price of only 199k/unit and $323/SF, making it too good to pass up. Plus, there are Fully Approved RTI plans to add 3 Attached ADUs to improve the numbers to only 164k/unit, 8.2% Cap Rate, and 9 GRM on current. 4 of the units have been already fully remodeled with permits and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. Additionally, each unit is individually metered for gas and electricity while tenants cover garbage fees - saving you money on utilities from day one. The large 10,015 SF lot comes complete with gated parking spaces that can accommodate up to twelve cars and requires no soft-story retrofitting. Preliminary plans have already been drafted to add 2 additional Detached ADUs over the carport - adding even more income-generating potential! And let's not forget about its unbeatable location near popular neighborhood attractions like Alibi Coffee Co., Starbucks, Koreatown, DTLA, Culver City, and public transportation options all while being in close proximity to major freeways ensuring smooth travel times within Los Angeles city limits. Don't wait another moment to grab this rare opportunity before it slips away!

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• September, 2023

• Sep 21, 2023

  Date

  Canceled

  CRMLS: 23289849

  $2,895,000

  Price

• Jul 12, 2023

  Date

  Active

  CRMLS: 23289849

  $2,995,000

  Price

• Listing provided courtesy of CRMLS

  Huge 300k Price drop alert! 100% occupied 14-unit value-add opportunity with a remarkable Current Cap Rate of 6% and 12 GRM and an incredible 65% upside potential to an 11.2% Cap Rate and 7.2 GRM on proforma. Located in prime Mid City, this property is offered at an unbelievable price of only 206k/unit and $335/SF, making it too good to pass up. Plus, there are Fully Approved RTI plans to add 3 Attached ADUs to improve the numbers to only 170k/unit, 7.8% Cap Rate, and 9.6 GRM on current. 4 of the units have been already fully remodeled with permits and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. Additionally, each unit is individually metered for gas and electricity while tenants cover garbage fees - saving you money on utilities from day one. The large 10,015 SF lot comes complete with gated parking spaces that can accommodate up to twelve cars and requires no soft-story retrofitting. Preliminary plans have already been drafted to add 2 additional Detached ADUs over the carport - adding even more income-generating potential! And let's not forget about its unbeatable location near popular neighborhood attractions like Alibi Coffee Co., Starbucks, Koreatown, DTLA, Culver City, and public transportation options all while being in close proximity to major freeways ensuring smooth travel times within Los Angeles city limits. Don't wait another moment to grab this rare opportunity before it slips away!

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• July, 2023

• Jul 8, 2023

  Date

  Canceled

  CRMLS: 23274195

  $2,995,000

  Price

• May 25, 2023

  Date

  Active

  CRMLS: 23274195

  $3,100,000

  Price

• Listing provided courtesy of CRMLS

  Price drop alert! This is the deal you've been waiting for - a value-add 14-unit building with an unbelievable $200k price reduction! And what's even better? 4 of the units have already been fully renovated with permits and are ready to rent out. Located in prime Mid City, this property comes at only $213k per door, making it too good to pass up. With a remarkable Current Cap Rate of 5.5% and 12.6 GRM and an incredible 59% upside potential to a 10% Cap Rate and 7.9 GRM on proforma, you simply cannot afford to miss out on this opportunity. Plus, each unit is individually metered for gas and electricity while tenants cover garbage fees - saving you money on utilities from day one. The large 10,015 SF lot comes complete with gated parking spaces that can accommodate up to twelve cars and requires no soft-story retrofitting. Preliminary plans have already been drafted to add three attached ADUs in the garages as well as two detached ADUs over the carport - adding even more income-generating potential! And let's not forget about its unbeatable location near popular neighborhood attractions like Alibi Coffee Co., Starbucks, Koreatown, DTLA, Culver City, and public transportation options all while being close proximity to major freeways ensuring smooth travel times within Los Angeles city limits... Don't wait another moment-grab this rare opportunity before it slips away!

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• May, 2023

• May 22, 2023

  Date

  Canceled

  CRMLS: 23257243

  $3,100,000

  Price

• Apr 4, 2023

  Date

  Active

  CRMLS: 23257243

  $3,200,000

  Price

• Listing provided courtesy of CRMLS

  Price Reduction! Value-Add 14 Unit building with 4 fully renovated vacancies in the prime Mid City priced at only 221k/door. Amazing Current Cap Rate of 5.25% and 13 GRM with an incredible 59% upside to 9.6% Cap Rate and 8.2 GRM on the proforma. All units are Individually metered for Gas, Electricity, and tenants pay for trash. The property sits on a large 10,015 SF lot with 12 gated parking spaces and no soft-story requirement. preliminary plans to add 3 attached ADUs and 2 detached ADUs over the carport. Easy to rent unit mix consisting of 11 large (1bed/1bath) units, 1 (3bed/2bath) unit, and 1 (retail store). This property is located in the heart of LA near hip neighborhood attractions such as Alibi Coffee Co and is only minutes away from Koreatown, DTLA, Culver City, and close to public transportation as well as freeways.

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• January, 2022

• Jan 5, 2022

  Date

  Sold

  CRMLS: 21794526

  $2,285,000

  Price

• Aug 11, 2021

  Date

  Active

  CRMLS: 21794526

  $2,500,000

  Price

• Listing provided courtesy of CRMLS

  1639 S Hobart Blvd in the Harvard Heights neighborhood of Los Angeles. Totaling 8,640 SF, the subject property includes 13 apartment units and one commercial space located on the southwest corner of Venice Blvd & Hobart Blvd just east of Western Ave. This is a true value-add opportunity with significant rental upside of over 59%.Built in 1963, 1639 S Hobart Blvd features a unit mix of 12 one-bedroom units, one three-bedroom unit and one commercial unit currently occupied by an office tenant. Current rents are below market and present an investor the opportunity to capture pro forma rents over time through interior renovations and upgraded exterior facade. At the asking price, the subject property is being offered at a low price per unit of $192,308 and pro forma CAP rate of 7.47%. The property has 13 gated parking spaces and there is no soft story retrofit required. 1639 S Hobart Blvd has a secure, gated entry and common area courtyard. The property has limited landlord responsibilities as gas and electricity is separately metered and trash removal is handled by the city of Los Angeles. Harvard Heights is a densely populated neighborhood with historical and architectural significance. The demand for apartment units increases year-over-year exemplified with surrounding new residential and office developments as well as major employers established in the submarket. The subject property has a walk score of 90 with easy access to public transportation, nightlife, dining, education and the Santa Monica Freeway

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• December, 2012

• Dec 24, 2012

  Date

  Sold (Public Records)

  Public Records

  --

  Price

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