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$ 2,600,000
Est. payment /mo
New
535 N Heliotrope DR Los Angeles, CA 90004
12 Beds
12 Baths
8,226 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 8,226 sqft
Price per Sqft $316
MLS Listing ID 25529771
Bedrooms 12
HOA Y/N No
Year Built 1962
Lot Size 7,997 Sqft
Property Description
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS. We are pleased to offer for sale a 12-unit apartment community located at 535 North Heliotrope Drive. The subject property is located north of Beverly Boulevard and east of Normandie Avenue. The property is in the thriving neighborhood of East Hollywood just south of the 101 Freeway. Located on Heliotrope Drive, just minutes from Virgil Village and Silver Lake, 535 North Heliotrope provides tenants with easy access to some of the most popular bars, eateries and shopping in Los Angeles. Situated on a 7,999 square foot parcel, the property is comprised entirely of one-bedroom units. There is 45% remaining rental upside through interior renovations. The property is in an Opportunity Zone which is drawing significant new capital in the immediate neighborhood, putting upward pressure on rental rates and property values. 535 North Heliotrope Drive offers investors an opportunity to acquire an asset in a sought-after in-fill submarket of Los Angeles. The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate in order to achieve superior market rents moving forward, makes 535 North Heliotrope an excellent acquisition opportunity.
Location
State CA
County Los Angeles
Area C17 - Mid-Wilshire
Zoning LAR3
Interior
Fireplace No
Exterior
Parking Features Covered
Total Parking Spaces 12
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5520008008
Special Listing Condition Standard
Listed by Sean Rosenzweig • Marcus & Millichap