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31229948

6127 Romaine St, Los Angeles, CA 90038 For Sale

ES
CA 00893163
Miller & Desatnik Realty Corp
Listed by Miller & Desatnik Realty Corp
$1,945,000
117 days on market
Updated 26 days ago
Opportunity zone

Romaine Street Apartments

Details
APN 5534-024-020
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,560
Net Rentable (SqFt) 5,560
Units 8
Cap Rate 5.03%
NOI $97,829
Price per SqFt $350
Year Built 1953
Buildings 1
Stories 2
Lot Size (SqFt) 6,505
Zoning LAR3
Parking Spaces 7 spaces
Parking per 1,000 SqFt 1.26

Multifamily | 8 Units | $243,125/unit

Marketing description

We are pleased to present 6127 Romaine Street, an 8-unit, pride-of-ownership multifamily asset located in the heart of Hollywood. This boutique, professionally managed 1950s-era property offers investors the opportunity to acquire an asset with strong in-place rents as well as value-add potential. Select capital improvements have been completed, inclusive of unit renovations to the majority of units, updates to the electrical, and new windows throughout. There are individual water heaters and ratio utility billing, so the property is running very efficiently. Located in a walkable, high-demand pocket of Hollywood, 753 N Hudson Avenue is surrounded by several newer Class A multifamily, mixed-use developments, and entertainment-industry hubs such as studios and post-production facilities. The asset offers a lower-cost alternative to nearby luxury buildings while delivering comparable unit finishes, appealing to quality-conscious tenants at more accessible rents. Professionally managed throughout the seller's ownership, this property stands out as a smooth operating, income-producing investment with room for rental growth making it an ideal acquisition for investors seeking both cash flow and appreciation in one of Los Angeles' most dynamic rental submarkets.

Listing Contacts

ES
CA 00893163
Miller & Desatnik Realty Corp
Listed by Miller & Desatnik Realty Corp

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$97,829.00
$8,152.42/mo

Valuation Metrics

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DSCR
5.03%
Cap Rate
5.03%
ROI

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