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1026 N Hudson Ave

Los Angeles, CA 90038
  • $2,250,000
  • STATUS: Active
  • ON SITE: 17 Days
  • ID#: 21-790410
UPDATED: 37 min ago
$2,250,000
  • 11
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 6,593
    SQFT
  • $341
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1958
County:
Area:

School Ratings & Info

Description

Situated mid-block near the intersection of Highland Avenue and Santa Monica Boulevard, the property features five one-bedroom units and three two-bedroom units. Select apartments have been extensively renovated, providing a blueprint for a new owner to continue upgrading the property to capture the approximately 47% in rent upside. The property's exterior has been updated with new paint, new landscaping, a new fence, and a new facade. Select remodeled units feature new wood flooring, brand new countertops, stainless steel appliances, and fully remodeled bathrooms, helping to significantly improve achievable rents. In addition, the on-site laundry facilities provide a supplemental income stream to benefit the new owner. Nestled among the coveted studios and soundstages that saw a recent joint venture between The Blackstone Group and Hudson Pacific Properties, the property sits between the path of redevelopment. Just two blocks west, Sunset Las Palmas Studios features a newly-completed 128,000 square foot office building, while an upcoming 620,000 square foot office and studio redevelopment is set to begin only a few blocks northeast of the property. AvalonBay's 695-unit AVA Hollywood property and world-renowned Rao's restaurant are both within blocks of the building, endorsing the neighborhoods desirability.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-17T23:42:31.657. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.theparsonsrealestateteam.com/homes/121966548
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1026 N Hudson Ave Los Angeles, CA 90038

  • Price: $2,250,000
  • Status: Active
  • Updated: 37 min ago
  • ID#: 21-790410
11
Beds
0
Baths
0
½ Baths
0.16
Acres
6,593
SQFT
$341
$/SQFT
1958
Built
Neighborhood:
Hollywood
County:
Los Angeles
Area:
Hollywood
Property Description
Situated mid-block near the intersection of Highland Avenue and Santa Monica Boulevard, the property features five one-bedroom units and three two-bedroom units. Select apartments have been extensively renovated, providing a blueprint for a new owner to continue upgrading the property to capture the approximately 47% in rent upside. The property's exterior has been updated with new paint, new landscaping, a new fence, and a new facade. Select remodeled units feature new wood flooring, brand new countertops, stainless steel appliances, and fully remodeled bathrooms, helping to significantly improve achievable rents. In addition, the on-site laundry facilities provide a supplemental income stream to benefit the new owner. Nestled among the coveted studios and soundstages that saw a recent joint venture between The Blackstone Group and Hudson Pacific Properties, the property sits between the path of redevelopment. Just two blocks west, Sunset Las Palmas Studios features a newly-completed 128,000 square foot office building, while an upcoming 620,000 square foot office and studio redevelopment is set to begin only a few blocks northeast of the property. AvalonBay's 695-unit AVA Hollywood property and world-renowned Rao's restaurant are both within blocks of the building, endorsing the neighborhoods desirability.
Exterior Features

Lot Size Area 6812 Other Structures None Parking Garage Assigned Total Parking 6

Interior Features

Baths Total 8.00 Cooling Other Equipment Other Heating Other

Property Features

Assessed Total Value 1786012 Gross Income 148464 Gross Operating Income 149784 Like Units1 5 Like Units2 3 Net Operating Income 90246.00 Number Of Buildings 1 Number Of Units 8 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 55084 Type Of Units Residential Year Built Source Vendor Enhanced Zoning Lar3

Listing provided courtesy of Roderick 'Rick' Raymundo DRE#01357019 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-17T23:42:31.657. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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