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$ 4,950,000
Est. payment | /mo
18 Beds
24 Baths
14,817 SqFt
$ 4,950,000
Est. payment | /mo
18 Beds
24 Baths
14,817 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 14,817 sqft
Price per Sqft $334
MLS Listing ID 26855971
Bedrooms 18
HOA Y/N No
Year Built 1965
Lot Size 8,437 Sqft
Property Description
Acquire a well-positioned 20-unit apartment building in the heart of Hollywood, a globally recognized epicenter of entertainment, creativity, and culture. Located at 1627 N. Poinsettia Place in the coveted Hollywood Hills West / Poinsettia Heights neighborhood, this 1965-built, wood-frame asset offers an exceptional combination of location prestige, walkability, employment density, and immediate rent-growth opportunity. The building features thoughtfully renovated kitchens and bathrooms with upgraded elevator, cabinetry, stainless steel appliances, modern fixtures, and new flooring across a diverse unit mix 14 one-bedroom, three studio, and three two-bedroom residences spanning approximately 14,817 SF on an 8,436 SF lot with 24 subterranean parking spaces. A Walker's Paradise with a Walk Score of 95 daily errands require no car as the property sits just a 10-minute walk from the Metro B Line (Red) at Hollywood/Highland Station, providing direct access to Downtown LA, Koreatown, and the Westside. The neighborhood is anchored by major employers including Netflix (1.4M SF+ commitment), Paramount Pictures, NBC Universal, and Warner Bros., driving robust tenant demand from entertainment professionals, young executives, and affluent renters seeking proximity to studios, Sunset Strip, West Hollywood, and Beverly Hills. Current rents average $2.68/SF against a market potential of $3.28/SF a 22% spread representing upside in untapped monthly NOI. The property trades at a current 5.23% cap rate making this a compelling value-add opportunity in one of Los Angeles' most resilient and high-demand multifamily submarkets with long-term appreciation tailwinds and consistent entertainment-industry-driven tenant interest.
Location
State CA
County Los Angeles
Area C20 - Hollywood
Zoning LAR3
Interior
Heating Central
Fireplace No
Exterior
Parking Features Side By Side
Total Parking Spaces 24
Building
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5548009033
Special Listing Condition Standard
Listed by Jacob Plewa REMAX COMMERCIAL & INVESTMENT REALTY #02041641
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Horacio Gomez Jr
Agent | License ID: 02127836