1045 N Ardmore Avenue
Property Overview
Huge ~600k Price Reduction! Renovated 13-unit building cash flowing at an amazing 6.25% Cap Rate from day 1 with 39% upside to a 9.5% Cap on Proforma! Attractively priced at only $306/SF and $253k/door with a large unit mix consisting of 3 (2bed/2bath) units, 9 spacious (1bed/1bath) units, and 1 (studio/1bath) unit. Majority of the units (7) have been renovated including 2 brand-new attached ADUs. Amenities include gated entry, communal laundry room, large balconies, large patios, as well as 9 parking spaces (2 of which have not been officially assigned and may be rented for additional income). Many units boast updated cabinets, flooring, lighting, bathrooms, and significant exterior improvements including soft-story retrofit. Prime East Hollywood location just minutes away from the Vermont/Santa Monica Metro station, Silverlake, Hollywood, West Hollywood as well as many hip neighborhood attractions, restaurants, bars, and shops such as Hollywood Walk of Fame, Griffith Observatory, Cara Hotel, Saffy's Restaurant, Courage Bagels, and many more.
Home Details
- Property type
- Residential Income
- Year built
- 1963
- Living area
- 10,780 sq ft
- Lot size
- 9,024 sq ft
- Parking
- 9 spaces
- Days on market
- 8
- MLS status
- Active
Location & Neighborhood
Frequently Asked Questions About 1045 N Ardmore Avenue
Property type: Residential Income
What clients say
“Reza was the best agent we have ever worked with.”Russell & Susan McQueen
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