Description

Great property located in Hollywood on the border of Los Feliz and Franklin Village. $214,212 gross annual income. 13.9 X GRM at list price. Consists of two side by side buildings. Two separate APN's. Units have front and rear access, private in unit laundry areas, and parking. Separately metered for gas and electric. Several large scale developments in progress one block south. Metro red line station one block away. Large 9,535 square foot lot with R3-1 zoning. 5520 & 5528 Franklin Ave APN 5544-004-021 & 5544-004-022 both included in the sale. Potential to demolish old single car garages and create 16 tandem surface parking spaces. Check with city. Property consists of 2 side by side buildings. 2 Separate APN's and lots included in the sale.

Highlights

• 9 Units
• Price Per Unit $332,778
• Cap Rate 5.02%
• GRM 13.98
• NOI $150,212
• LAR3 Zone