1252 Mansfield AveLos Angeles, CA 90038
- Residential income properties
- 6,750 SF
Property Details for 1252 Mansfield Ave
- Year built
- 1956
- Construction
- WOOD
- Lot size
- 0.17 AC
- Property size (Sq ft)
- 6,750 SF
- Zone code
- LAR3
- Property type
- Residential income properties
- Property subtype
- Other apartment buildings
- APN
- 5532-007-011
- APU
- 5532007011
Description
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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $2,425,122
- 6.5%
- $2,238,574
- 7%
- $2,078,676
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,989,549
- Geo Method
- $1,989,549
-
Alternative Use
- Use
- Valuation
- Residential
- $2,238,574
- Hospitality
- $2,050,522
- Educational
- $1,706,010
- Medical
- $1,764,683
- Retail
- $2,653,794
Location Insight
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Latitude
- 34.0941
- Longitude
- -118.34
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].