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Image 1 - 1042 Wilcox Ave, Los Angeles, California, 90038 - House for sale
Image 2 - 1042 Wilcox Ave, Los Angeles, California, 90038 - House for sale
Image 3 - 1042 Wilcox Ave, Los Angeles, California, 90038 - House for sale
Image 4 - 1042 Wilcox Ave, Los Angeles, California, 90038 - House for sale
Image 5 - 1042 Wilcox Ave, Los Angeles, California, 90038 - House for sale
Image 6 - 1042 Wilcox Ave, Los Angeles, California, 90038 - House for sale
Image 7 - 1042 Wilcox Ave, Los Angeles, California, 90038 - House for sale
Image 8 - 1042 Wilcox Ave, Los Angeles, California, 90038 - House for sale
Home For Sale In Los Angeles, California
1042 Wilcox Ave, Los Angeles, California, 90038

Home For Sale In Los Angeles, California

house for sale
Listed: 04/13/24

1042 Wilcox Ave, Los Angeles, California, 90038

38 Bed:
38 Bath:
9,880 Sq Ft Living Area:
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Price
$ 5,3M

About This House

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 …  Full description

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Hollywood Housing & Living

Household Income

Median household income: $62,474
Number of households: 1,4M
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.