Cranbrook Realty Corp
Listed by Cranbrook Realty Corp
$1,499,000
Apt Development Site East Hollywood
Details
APN 5540-010-003
Property Type Land
Sub Type Residential
Lease Term 1
Lease Expiration 11/30/2025
Rent Bumps Yes
Lease Options Annual
Pro-Forma Cap Rate 3.43%
Pro-Forma NOI $51,472
Lot Size (SqFt) 6,824.8
Zoning R3-1
Parking Spaces 5 spaces
Ownership LLC Fee Simple
Land | 6,824.8 SF
Marketing description
Apts. Development Site
A. 100% Affordable 28+/- Units with No Parking required in 5 story building
B. Market Rate 16 Units plus ADUs & with parking 4 story building
See enclosed marketing brochure
Walking distance to 3 major hospitals Kaiser, Children’s & Presbyterian
Investment highlights
Take 2+/- years to secure the entitlements while the rental income covers the property expenses.
Listing Contacts
Cranbrook Realty Corp
Listed by Cranbrook Realty Corp
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