Property Details

Year Built: 1954
Units: 8
Price / Unit: $234,375
Price / SqFt: $342
CAP: 3.91%
GRM: 15.03

Executive Summary

The Neema Group of Marcus & Millichap is pleased to present 5806 La Mirada Ave, a value add multifamily investment opportunity in Hollywood located between N Van Ness Ave & N Bronson Ave

The subject property is 100% occupied and totals eight units, all one-bedrooms; rents are below market with over 43% upside as units turn

There are four carports at the rear of the property along with three additional parking spaces; an on-site community laundry room with one washer and one dryer allows ownership to collect additional income; gas and electricity are also separately metered and tenants pay for trash removal

5806 La Mirada Ave boasts a high walk score of 87 and is three blocks east of Sunset Gower Studios and just south of Netflix o n S unset Blvd; there are plentiful retail amenities within walking distance on Santa Monica Blvd and Sunset Blvd

Hollywood remains one of the strongest rental submarkets in the city and an attractive area to acquire property due to its close proximity to nearby neighborhoods such as Larchmont Village, Hancock Park, Los Feliz, West Hollywood, La Brea, and Koreatown 

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