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    1724 El Cerrito Place

    Los Angeles (City), CA 90028
    • $3,100,000
    • STATUS: Active
    • ON SITE: 45 days
    • ID#: 20617264
    $3,100,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1939
    County:

    School Ratings & Info

    Description

    Located in an Opportunity Zone! The pictures are of the actual apartments! The custom furniture and furnishing all come with the building. "StayTony, Hollywood" is a Branded Serviced Apartment Building (min. one-month rental) located in prime Hollywood. StayTony is an established and growing brand known for providing fashionable corporate and short term fully furnished housing to companies, people relocating or on temporary job assignments, and people who want to live flexibility on a month to month lease. This is not an "Airbnb" and has always had a 30 night minimum. With 10 years of operating experience and 8 years of financials, you're not just purchasing a building, you're purchasing a lifestyle brand that guests crave! The current cap rate of 5.8% and GRM of 9.62 makes this a genuine opportunity! The purchase comes with an existing StayTony management agreement in place. There are 8 parking spaces. 6 of the 8 units will be delivered vacant along with options to achieve cash flow.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-31T00:32:35.807. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.

    www.therealestategirl.com/homes/110032159
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    1724 El Cerrito Place Los Angeles (City), CA 90028

    • Price: $3,100,000
    • Status: Active
    • ID#: 20617264
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    1939
    Built
    Neighborhood:
    C20 - Hollywood
    County:
    Los Angeles
    Area:
    C20 - Hollywood
    Property Description
    Located in an Opportunity Zone! The pictures are of the actual apartments! The custom furniture and furnishing all come with the building. "StayTony, Hollywood" is a Branded Serviced Apartment Building (min. one-month rental) located in prime Hollywood. StayTony is an established and growing brand known for providing fashionable corporate and short term fully furnished housing to companies, people relocating or on temporary job assignments, and people who want to live flexibility on a month to month lease. This is not an "Airbnb" and has always had a 30 night minimum. With 10 years of operating experience and 8 years of financials, you're not just purchasing a building, you're purchasing a lifestyle brand that guests crave! The current cap rate of 5.8% and GRM of 9.62 makes this a genuine opportunity! The purchase comes with an existing StayTony management agreement in place. There are 8 parking spaces. 6 of the 8 units will be delivered vacant along with options to achieve cash flow.
    Exterior Features

    Construction Materials ConcreteStucco Entry Location Ground Level W/Steps Foundation Details Slab Lot Features Front YardLawn Lot Size Units Square Feet Parking Features GuestParking SpaceStreetPrivateUncoveredTandem Garage Parking YN Yes Pool Features None Pool Private YN No Roof Shingle Spa Features None Spa YN No

    Interior Features

    Appliances RefrigeratorGas CooktopOven Appliances YN Yes Flooring TileWood Heating Wall Furnace Heating YN Yes Interior Features Crown MoldingFurnishedWainscotingRecessed Lighting Laundry Features None Room Type Walk-In ClosetLiving Room Window Features Bay Window(S)

    Property Features

    Country Us Financial Info As Of 2020-08-31 00:00:00 Gross Income 315744.00 Gross Multiplier 9.62 Gross Operating Income 306079.00 Laundry YN No Net Operating Income 181257.00 Property Condition Updated/RemodeledRepairs Cosmetic Rent Control YN Yes Senior Community YN No Special Listing Conditions Standard Total Expenses 124821.00 Zoning Lar4

    Listing provided courtesy of David Weinberger of Keller Williams Studio City and Adam Zunder of Iconic Investments


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-31T00:32:35.807. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.

     
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