1643 N Martel Ave.

Offering Highlights

  • Offer Price:

    $4,495,000

  • Units:

    11

  • Net Reantable Area:

    7,383

  • Cap Rate:

    4.88%

  • GRM:

    13.80

  • Status:

    Active

Marcus & Millichap is pleased to present 1643 N Martel Avenue, a 10-unit apartment building with an additional non-conforming unit, located in one of the most desirable parts of Hollywood. The subject property is a two-story building, offering 7,383 of rentable SF and is situated on a 7,034 SF lot.

1643 Martel offers investors an incredible opportunity to purchase a very well maintained and upgraded apartment building in a prime West Hollywood adjacent neighborhood. The property is within walking distance to all shops and restaurants on Hollywood Boulevard, Sunset Boulevard, Fairfax Boulevard, and La Brea Avenue. The popular Hollywood hiking trail of Runyon Canyon sits at the top of the street as well.

This building requires no seismic retrofit upgrades and houses a large parking garage and an on-site laundry facility. Nine (9) of the units have been extensively renovated with new kitchen and bath cabinets, modern tiles, counters, and flooring. The facade of the property has been designer-finished with gorgeous railings, contemporary wood siding, and clean drought-tolerant landscaping.

This stabilized asset gives an investor the ability to have very strong cash flow in one of the most desirable rental markets in California.

Investment Highlights:

  • Prime Hollywood Neighborhood
  • Built in 1986 Allowing You to Increase Rents at a Higher Rate Than a Standard Rent Controlled Building
  • No Seismic Retrofit Work Required
  • Nine (9) Units Have Been Extensively Renovated
  • On-Site Gated Parking
  • On-Site Laundry Facility
  • Within Close Proximity to Schools, Grocery Stores, Restaurants, Shopping, & Major Entertainment Sectors
  • Walkscore of 93; Walkers Paradise

Exclusively listed by:

Sam Liberow
First Vice President Investments
Direct: 818-212-2795
Cell: 718-406-3128
SLIBEROW@MARCUSMILLICHAP.COM

CA: 01933858

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