Sold
1129 Lodi Pl
Los Angeles CA, 90038
$2,810,000
$539.14 per sqft
Sold
10 Beds
12 Baths
5,212 sqft
Multi-family
Built in 1953
Huge 700k Price Reduction! 8-unit building with 7 fully renovated units in Prime Hollywood cash flowing at an incredible Current Cap Rate of 6.1% and 11.9 GRM from day 1! The 7 units have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, new Mini Split AC systems, stainless steel appliances, washer/dryer inside, as well as major exterior capital improvements (4 vacant). The unit mix provides unparalleled versatility, including 2 spacious (2bed/3bath) units ideal for families, as well as 6 modern (1bed/1bath) units perfect for individuals seeking comfort and style. Each unit is individually metered for gas and electricity, ensuring convenience and efficiency. On top of that, the major systems have been updated including electrical, plumbing, HVAC, etc. Furthermore, there's an additional upside to 6.9% Cap Rate and 10.7 GRM on proforma. The property is located in the heart of the Hollywood entertainment industry just minutes away from Netflix studios, Paramount Studios, and Netflix Corporate office. Located just steps away from the world-famous Sunset Blvd, the property offers close proximity to neighborhood attractions, restaurants, bars, and shops such as the Hollywood Walk of Fame, Highlight Room, TAO, Bar-Lis, Dream Hotel, Thompson Hotel, and many more popping up all around the area.
24-391925
MLSⓇ ID
May 14, 2024
Listed
October 2, 2024
Updated
Map
1129 Lodi Pl
Los Angeles CA, 90038
Interior Features
Total Stories
2
Bedrooms
10
Total Bathrooms
12
Appliances
Refrigerator, Range/Oven, Other
Laundry Description
In Unit, Inside
Fireplace
No
Cooling
Yes
Cooling Description
Air Conditioning, Multi/Zone
Heating
Yes
Heating Description
Zoned, Electric
Exterior/Building Features
Lot Size
0.16 Acres
Other Property Details
Area Name
Hollywood
Days on Market
8
Garage
No
Parking
Assigned, Carport, Tandem
Parking Total
8
View
No
County
Los Angeles
Pool
No
Zoning
LARD1.5
Listing History
Date | Event | Price |
---|---|---|
6/24/2024 | Sold | $2,810,000 |
6/11/2024 | Pending | — |
5/30/2024 | Under contract | — |
Listed by Julio Ruiz with Global Platinum Properties, Inc.
Listing Contact: 818-524-0706
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Beachrock Group shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 10/2/2024