5633 La Mirada AveLos Angeles, CA 90038

This exceptional multifamily investment opportunity presents a portfolio of three rental units situated on a substantial 6,275 square foot lot in the desirable Hollywood area of Los Angeles, California (zip code 90038). The property, built in 1915 and boasting a total of 3,884 square feet, is zoned LAR3, offering significant potential for future development or expansion. The asking price is $1,700,000, representing a price per unit of $566,667 and a price per square foot of $437.69. The property currently generates a Net Operating Income (NOI) of $97,400, resulting in a compelling 5.70% cap rate. The front portion of the property features a remodeled duplex with two 1-bedroom, 1-bathroom units, currently generating a combined monthly rental income of $4,500. The rear unit is a completely remodeled and permitted 4-bedroom, 4-bathroom residence, equipped with brand new appliances (stove/oven, refrigerator, washer/dryer, dishwasher) and split unit air conditioners. This spacious unit features a large backyard with a sail canopy for added privacy. The property's location offers convenient access to Silver Lake, Paramount Pictures, Downtown Los Angeles, and Hollywood. The rear unit's configuration allows for the potential conversion into two separate units, further enhancing rental income. This property presents a low-maintenance, high-return investment ideal for those seeking a stable cash flow, potentially suitable for a 1031 exchange. The property's APN is 5536-002-010. Please note that the front units are currently tenant-occupied