1223 June StLos Angeles, CA 90038

Property Details for 1223 June St

Year built

2024

Property size (Sq ft)

6,329 SF

Property type

Apartment buildings

Description

This exceptional 2024-built fourplex in prime Hollywood, Los Angeles (90038), presents a lucrative investment opportunity. The property, located at 1223 N June St, boasts 6,329 square feet of net rentable space across four units, two three-bedroom and two four-bedroom tri-level townhomes. Each unit features expansive rooftop decks, premium finishes including sleek cabinetry, huge windows, and designer tiles. All units are separately metered for gas, water, and electricity, minimizing maintenance and maximizing efficiency. The property includes eight parking spaces (four garage, one exterior, two bonus exterior). Currently, one unit is leased at $6,295 per month, contributing to a strong 5.40% cap rate and a Pro-Forma NOI of $199,626. The asking price is $3,695,000, translating to $923,750 per unit and $583.82 per square foot. Situated on a 5,122 square foot lot, zoned LARD1.5, this property offers a blend of luxury, convenience, and high rental demand, making it an ideal investment for discerning buyers. The property benefits from a one-year builder's warranty and drought-tolerant landscaping. Its proximity to West Hollywood's shops and restaurants, and iconic Hollywood Boulevard, ensures high occupancy rates and strong rental income. This turnkey investment is ready for immediate occupancy and offers a compelling return on investment.

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0933

Longitude

-118.334

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