852 N Oxford Avenue,Los Angeles, CA 90029
Los Angeles, CA 90029
Description
Attractive 8-unit Hollywood apartment asset currently operating at a strong 6.1% cap rate, offering compelling in-place cash flow with multiple paths to further NOI growth. Most notably, one legacy one-bedroom tenancy is currently paying just $477/month versus an estimated market rent of approximately $2,095/month. Upon lawful turnover and re-leasing at market, this single unit alone would increase the property's cap rate to approximately 7.0%. Ideally located just north of Melrose Avenue in a high-demand, walkable rental pocket near major employment centers, hospitals, transit, dining, and significant ongoing development. The property has been well maintained and recently improved with a new roof and newly remodeled common areas, reducing near-term capital requirements while enhancing the overall tenant experience and curb appeal. Additional upside exists through parking and ancillary income. Several tenants pay separate parking fees that are not subject to rent control, while the garages are currently underutilized, creating further opportunity to increase NOI. The property also offers meaningful development upside. ADU plans were previously RTI and are designed above the existing parking area, allowing an additional unit to be constructed while maintaining parking and potentially adding nearly $2,000/month in rental income. A large existing basement may provide an additional future conversion opportunity, subject to buyer investigation and applicable approvals. A rare opportunity to acquire a well-maintained Hollywood asset with a strong 6.1% going-in yield, a clear path to approximately 7.0% from a single unit turnover, limited near-term capital needs, and multiple additional value-add opportunities.
Details
| MLS # | 26833687 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1923 |
| Days On Site | 150 |
| Listing Provided By | Global Platinum Properties, Inc. | Armin Soleimani |
Features
| Bed(s) | 4 |
|---|---|
| Bath(s) | 8 |
| SQ Feet | 4,220 |
| Story(s) | 2 |
| Units | 8 |
| Building(s) | 2 |
| Zoning | LAR1 |
| Acreage | 0.12 |
Interior
| Heating | Wall Furnace |
|---|---|
| Heating Yes / No | Yes |
Parking
| Attached Garage Yes / No | No |
|---|---|
| Parking Features | Private |
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90029 |
| Area | C20 Hollywood |
| Listing VS Median (in 90029) | |
Price: $1,895,000 low | high Med: $1,850,000 sqft: 4,220 low | high Med: 5,666 $ / sqft: $449 low | high Med: $327 On site: 150 low | high Med: 37 | |
Market Activity 90029
Request a showing
Request a showing
Contact
Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90029 |
| Area | C20 Hollywood |
| Listing VS Median (in 90029) | |
Price: $1,895,000 low | high Med: $1,850,000 sqft: 4,220 low | high Med: 5,666 $ / sqft: $449 low | high Med: $327 On site: 150 low | high Med: 37 | |
