$1,575,000
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4332 Lockwood AVE Hollywood, CA 90029
5,360 SqFt
Key Details
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,360 sqft
Price per Sqft $293
MLS Listing ID SR19035562
Year Built 1924
Lot Size 9,300 Sqft
Property Description
4332 Lockwood Avenue is a 10-unit courtyard style apartment community located in a densely populated rental submarket known for excellent rent growth and low vacancy rates. The asset has NOT undergone a meaningful renovation. Similar renovated One Bedroom units in the immediate area achieve rental rates upwards of $3.50 per square foot vs. $1.17 per square foot being collected currently, thus providing approx. a 200% increase in rental potential as units become vacant. The location is +/- 1/2 mile from Silver Lake’s Sunset Junction and provides easy access to numerous entertainment venues such as Intelligentsia, Mohawk General Store, Cafe Stella, Forage, Squirl and Twig & Twine. Travel west to endless dining and shopping options in Hollywood and within minutes, a short drive puts you in DTLA and Echo Park. 4332 Lockwood Avenue is located within a newly established Qualified Opportunity Zone for investment, established by the Tax Cuts and Jobs Act, Section 1400Z. The subject property is located 1/2 mile from the Vermont / Santa Monica Blvd. Redline Station for an easy commute to Hollywood or Downtown Los Angeles.
Location
State CA
County Los Angeles
Area C20 - Hollywood
Zoning LARD1.5
Rooms
Ensuite Laundry None
Interior
Laundry Location None
Laundry None
Exterior
Pool None
Community Features Curbs, Sidewalks
Building
Lot Description Garden
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
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Bought with Rich Johns • KW Commercial Studio City