$ 17,500,000
-
$17,500,000
Price -
7
Bed -
6
Bath -
48,752
SqFt -
0.54
Acre
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About the Listing CLW-X75383 - CLW-C132252
Rare opportunity to acquire Hollywood View Towers, a 2005-built, LA RSO-EXEMPT 44-unit mixed-use multifamily asset on iconic Hollywood Boulevard. Spanning approximately 48,752 SF on a 23,627 SF LAR5 lot, the property features 41 well-appointed residences , four 1,455 SF three-bedroom/two-bath units, 26 spacious 1,104 SF two-bedroom/two-bath units, and 11 one-bedrooms plus 3 ground-floor retail suites that diversify the income stream. Units offer contemporary finishes, many with private balconies and views of the Hollywood Hills, while residents enjoy controlled access, elevator service, a sundeck, on-site laundry, and subterranean parking. The location is exceptionally connected: Walk Score 87 (Very Walkable), an 8-minute walk to the Hollywood/Western Metro B Line station, and a 9-minute drive to Downtown LA, with tenant demand anchored by Netflix, Paramount Pictures, Children's Hospital Los Angeles, and Kaiser Permanente in a zip code that is 83% renter-occupied. Built in 2005 and exempt from the LA Rent Stabilization Ordinance, the asset offers rent growth governed by state law rather than the city's more restrictive caps a rare and valuable attribute in a Hollywood market dominated by pre-1979 stock. Current rents average $2.65/SF against $2.95/SF at market, growing NOI from $986,363 to $1,137,276 and the cap rate from 5.64% going-in to 6.50%. At $397,727/unit and just $359/SF below the recent comp set average of $412/SF Hollywood View Towers is an outstanding opportunity to acquire modern construction, scale, and operational freedom in one of Los Angeles' most dynamic rental submarkets.
Listing Highlights for 5718 Hollywood Boulevard
Interior Details
- Bedrooms: 7
- Bathrooms: 6 Full
- Appliances:
- Air Cond:
- Heating: Wall Furnace
- Fireplaces:
- Floor:
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 73
- Zoning: LAR5
- Roof:
- Others: 2+ Total Units
- Sewer:
- Parking Features: Underground
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 5586035041
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Listing Location
Questions About..
5718 Hollywood Boulevard Los Angeles, CA 90028
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