1252 Mansfield Ave Los Angeles, CA 90038

This 8-unit apartment building in Hollywood, CA presents a compelling value-add investment opportunity. Located at 1252 N Mansfield Ave, 90038, this two-story, 6,750 square foot building sits on a 7,489 square foot lot zoned LAR3. Built in 1956, the property features a desirable unit mix of five one-bedroom, one-bathroom units and three two-bedroom, one-bathroom units. Five units are currently vacant, offering significant potential for rent increases after renovation. The building includes six covered parking spaces (with potential for a seventh) and an on-site laundry facility, generating additional income. Separately metered gas and electric systems contribute to efficient operation. The asking price is $2,620,000, representing a current cap rate of 4.69% and a pro-forma cap rate of 5.52%. The property's strong location in the heart of Hollywood, with a WalkScore of 96, ensures high tenant demand. The current NOI is $122,806, with a pro-forma NOI of $144,723. This meticulously maintained property, owned by the same family for over 60 years, offers a rare chance to capitalize on Hollywood's thriving rental market.