Daniel Shamooelian
This listing was posted on RealtyWW.
$5,300,000
Home For Sale In Los Angeles, California
Price:
$5,300,000
BR/BA:
10+ BA
Location:
1042 Wilcox Ave, Los Angeles, CA
Description:
Wow! We are pleased to present for sale a true value-add investment opportunity located in the heart of Hollywood. With ~58% of the building vacant, a new buyer has a fantastic opportunity to transform this residential hotel/apartment building into a Cash Cow! Known as the El Nido Hotel, the subject property consists of 38 studios with individual baths in each unit and is currently being rented on a monthly/weekly basis. 22 of the 38 units are currently vacant giving an investor the ability to renovate these units and re-rent at market rate. Monthly rent is estimated to be in excess of $42, 000/month once vacancies are filled, yielding an incredible cap rate of 6.5%!! (monthly proforma of over $51, 000/month in income once all units are turned over!) The El Nido boasts a Walk Score of 95 and is in close proximity to shopping, dining, entertainment, studios, transit, and so much more! Lots of new development in the area (Tesla's new supercharging station with restaurant and movie screens opening less than a mile away!). Do not miss this opportunity to purchase an asset with tons of upside in a phenomenal location with high rental demand. Bankruptcy court sale, subject to overbid. Contact listing agent for more details or to schedule a showing!For more details: https://realtyww.info/homes_los-angeles-d523223/for-sale_i70530142
Visit Our Partner Website
This listing was posted on another website. Click here to open: Go to RealtyWW
Important Safety Tips
These might be signs of fraud:
- Really cheap prices
- Irregular email adresses
- Contact info in pictures
To learn more, visit the Safety Center or click here to report this listing.
More About this Listing: Home For Sale In Los Angeles, California
Home For Sale In Los Angeles, California is a 10 Bathroom, 10+ BA, 38 Bathroom Single-Family Homes for Sale at 1042 Wilcox Ave in Los Angeles CA. Find other listings like Home For Sale In Los Angeles, California and listings near 1042 Wilcox Ave by searching Oodle Classifieds for 10 Bathroom, 10+ BA, 38 Bathroom Single-Family Homes for Sale in Los Angeles CA.
Home For Sale In Los Angeles, California is a 10 Bathroom, 10+ BA, 38 Bathroom Single-Family Homes for Sale at 1042 Wilcox Ave in Los Angeles CA. Find other listings like Home For Sale In Los Angeles, California and listings near 1042 Wilcox Ave by searching Oodle Classifieds for 10 Bathroom, 10+ BA, 38 Bathroom Single-Family Homes for Sale in Los Angeles CA.