Listed by Media Realty
$1,875,000
1948 Buchanan St
Details
APN 5142 15 01 3350, 5142 15 01 3360, 5142 15 01 3370
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,613
Net Rentable (SqFt) 5,613
Units 9
Cap Rate 4.90%
NOI $91,416
Tenancy Multi
Year Built 1964
Year Renovated 2017,2018
Buildings 3
Acreage 0.350
Zoning ND-2 | 2.0 FAR
Parking Spaces 11 spaces
Parking Per SqFt 1.96
Investment Type Value Add
Multifamily | 4.90% CAP | 9 Units
Marketing description
The Buchanan Street / North 20th Avenue assemblage presents a rare East Hollywood Mid-Core opportunity combining durable in-place income, an attractive seller financing, and meaningful long-term redevelopment potential. The portfolio consists of 1948 Buchanan Street, 1952 Buchanan Street, and 615 North 20th Avenue, totaling nine residential units with a rear gated parking area in one of Hollywood's most dynamic redevelopment corridors.
Investment highlights
- Asset generates immediate cash flow with an estimated 5% capitalization rate.
- Seller is willing to provide purchase money financing with as little as 40% down and an interest only below-market rate.
- Provides investors with stable income from day one while preserving the flexibility to pursue future redevelopment.
- Unlock traditional development sites that often require carrying costs without income. Enables investors to collect revenue while planning and entitling a higher-density project.
- Beyond the existing income stream, the property's greatest value lies in its redevelopment potential. Based on preliminary planning assumptions, the assemblage may support a future residential development program of approximately 26 to 32 units, subject to zoning verification, site planning, parking requirements, utility capacity, and municipal approvals.
Listing Contacts
Listed by Media Realty
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$91,416.00
$7,618.00/mo
Valuation Metrics
0
DSCR
4.88%
Cap Rate
4.88%
ROI
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