1421 N Hudson Ave, Los Angeles, CA 90028

Description

MOTIVATED SELLER BRING ALL OFFERS! 9-UNIT HOLLYWOOD APARTMENT BUILDING WITH SIGNIFICANT RENTAL UPSIDE! eLAvate, Inc. is pleased to present 1421 N. Hudson Avenue, a 9-unit multifamily investment opportunity in the heart of Hollywood. Offered at $2,250,000 ($250,000 per unit), the seller is highly motivated and ready to consider all serious offers. Constructed in 1957, the property consists of approximately 5,880 square feet on a 7,707 square foot lot, featuring a unit mix of two 2-bedroom/1-bathroom units, five 1-bedroom/1-bathroom units and two studios. The property also includes seven parking spaces. STRONG VALUE-ADD OPPORTUNITY: The property currently generates approximately $164,995 in annual rental income, with an estimated $49,531 in additional annual rental income potential based on projected market rents. At the asking price, the property offers a current 3.90% cap rate, with a projected 5.86% pro forma cap rate and approximately 30% rental upside, subject to applicable rent regulations and tenant turnover. Recent capital improvements include a new/upgraded main electrical panel in January 2024 and a new permitted roof installed in May 2025. The roof improvement also benefits from an approved LAHD capital improvement rent increase. PRIME HOLLYWOOD LOCATION: Situated just south of Sunset Blvd., the property offers convenient access to Hollywood Blvd., Netflix, Paramount Pictures, Sunset Gower Studios, the Hollywood Palladium, Pantages Theatre and the Hollywood/Vine Metro B Line station. The central location provides access to major entertainment, employment, dining, and shopping destinations throughout Hollywood and greater Los Angeles. SELLER IS MOTIVATED TO SELL! All SERIOUS OFFERS ARE ENCOURAGED! An attractive opportunity for investors seeking an established Hollywood multifamily asset, recent capital improvements and long-term value-add potential.