4214 Sunset Dr Los Angeles, CA 90027

This exceptional Los Feliz investment opportunity presents a charming 8-unit apartment building, ideally situated at 4214 Sunset Drive, Los Angeles, CA 90027. Built in 1923, this quintessential Los Angeles bungalow-style community boasts 5,388 square feet across three buildings, situated on a 6,709 square foot lot. The property comprises seven 1-bedroom, 1-bathroom units and one 2-bedroom, 2-bathroom unit, all within a desirable courtyard setting. The current asking price is $2,200,000, representing a price per unit of $275,000. The property currently generates a Net Operating Income (NOI) of $112,291, resulting in a 5.16% cap rate. However, a pro-forma analysis projects a significantly higher NOI of $229,794 and a 10.45% cap rate, indicating substantial upside potential. The property's prime location offers easy walking access to the area's vibrant restaurants, cafes, and shops. One unit is potentially available vacant upon sale, presenting an immediate opportunity for value enhancement. This presents a rare chance to acquire a premium Los Feliz asset with strong in-place income and significant potential for future growth. The current Gross Rent Multiplier (GRM) is 12.6, while the market GRM is 7.5, further highlighting the property's value.