Listed by KW Commercial Calabasas
$3,695,000
635 N Harvard Blvd
Details
APN 5521-005-021
Property Type Multifamily
Sub Type Apartment Building
Square Footage 6,398
Units 7
Cap Rate 5.23%
Price per SqFt $578
Year Built 2020
Buildings 3
Stories 3
Lot Size (SqFt) 7,509
Zoning LAR3
Parking Spaces 10 spaces
Parking Per SqFt 1.56
Multifamily | 7 Units | $527,857/unit
Marketing description
Jared Levine of JML Real Estate Group / KW Commercial, the exclusive listing agent, is pleased to present Harvard Townhomes, a modern 7-unit multifamily asset ideally located in the vibrant East Hollywood submarket of Los Angeles. Built in 2020, the property sits on a 7,509 SF lot with a 6,398 SF building footprint, zoned LAR3. Harvard Townhomes features an excellent mix of two- and three-bedroom units, as well as a studio ADU, appealing to a broad tenant base seeking modern comforts and convenience. This highly desirable non-RSO property, not subject to AB1482, offers investors a unique opportunity to acquire a newer construction asset with lower operating costs and attractive CAP Rate.
Harvard Townhomes presents a rare chance to invest in a newer, turnkey asset with modern amenities designed for today’s renters. The property features in-unit laundry, central A/C, secured access, and dedicated parking. Tenants pay for utilities, including trash, helping optimize operating efficiency. With interest rates trending downward, investors can take advantage of attractive financing while benefiting from the property’s strong fundamentals, excellent unit mix, and low-maintenance newer construction.
Strategically situated near Melrose Avenue and Western Avenue with easy access to the 101 Freeway, Harvard Townhomes offers exceptional connectivity to major employment hubs, transit lines, and lifestyle amenities across East Hollywood and Greater Los Angeles. The property’s location in a highly sought-after urban area ensures strong rental demand, drawing professionals, creatives, and families seeking modern living in a central, vibrant neighborhood.
Investment highlights
- Modern Construction: Built in 2020, offering contemporary finishes and low-maintenance newer construction.
- Highly Desirable Non-RSO Property: Not subject to AB1482, providing flexibility in rent adjustments.
- Excellent Unit Mix: Comprises two- and three-bedroom units plus a studio ADU, appealing to a wide tenant base.
- Turnkey Investment Opportunity: Move-in ready with modern comforts designed for today’s renters.
- Attractive Financing Environment: Investors can take advantage of trending downward interest rates.
- Prime East Hollywood Location: Situated near Melrose Ave and Western Ave with easy access to the 101 Freeway.
- Low Operating Costs: Newer construction combined with tenant-paid utilities, including trash.
- Modern Amenities: Features in-unit laundry, central A/C, secured access, and dedicated parking.
- Strong Rental Demand: Located in a vibrant, urban submarket attracting professionals, creatives, and families.
- Optimized CAP Rate Potential: Newer construction, efficient operations, and prime location enhance investor returns.
- Originally Constructed as 6 units in 2020
- ADU added in 2020 0+1. May or may not have Central A/C, Buyer to Verify
- Building SF per Zimas and title is 6,350 SF
- Building SF used in OM is 6,398 SF per Seller's Rent Roll
- Buyer to underwrite, investigate, and verify all information
- Market Rents and Expenses are Estimated
- Buyer shall use their own market rents, investigations, and expenses to underwrite this investment opportunity
- Submarket East Hollywood
- Submarket Cluster East Hollywood
Listing Contacts
Listed by KW Commercial Calabasas
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