Wow! We are pleased to present for sale a true value-add investment opportunity located in the heart of Hollywood. With ~58% of the building vacant, a new buyer has a fantastic opportunity to transform this residential hotel/apartment building into a Cash Cow! Known as the El Nido Hotel, the subject property consists of 38 studios with individual baths in each unit and is currently being rented on a monthly/weekly basis. 22 of the 38 units are currently vacant giving an investor the ability to renovate these units and re-rent at market rate. Monthly rent is estimated to be in excess of$42, 000/month once vacancies are filled, yielding an incredible cap rate of 6.5%!! (monthly proforma of over$51, 000/month in income…
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The average household income in
Los Angeles, CA
grew
from
$60,197
to
$62,474
in the past year. This data is an estimate based upon
1,4M
households in
Los Angeles, CA. The chart below presents how household income is distributed in
Los Angeles, CA
in comparison to the revenue allocation amid households nationally.
Property Taxes
Average range: $3k+
One of the most important aspects for property owners is the amount of property taxes. This graph shows
distribution of property taxes in
Los Angeles, CA
compared to median property taxes around the country. The prevalent amount of property taxes in
Los Angeles, CA
equals
$3k+
, which is
more
than the national average.