1724 El Cerrito PL Los Angeles, CA 90028

DELIVERED 100% VACANT! Eight Beautifully Appointed, Designer Done FURNISHED One-Of-a-Kind Apartments Situated in the Heart of Hollywood, right by Runyon Canyon, Magic Castle & Hollywood Bowl! Incredibly rare opportunity to set all your own rents! For those discerning buyers who value beauty, location, and income, 1724 N. El Cerrito Place is the multi-family investment property you have been looking for. The market is very competitive for good tenants, here's your opportunity to stand out from the competition with this one-of-a-kind 8 unit gem WHERE 8 OF 8 UNITS WILL BE DELIVERED VACANT! In addition, 1724 El Cerrito Place is situated on a 7,462 SF lot zoned R4 and is located in the Opportunity Zone. 1724 N. El Cerrito Place is about more than just being located in the most desirable, vibrant, and trendy part of Hollywood or having a great mix of four studios and four one bedroom apartments.1724 N. El Cerrito Place offers a savvy multi-family investor an additional bump in rents, occupancy rate, and quality of tenant you will attract because the building is designer done with gorgeous furniture and furnishings (7 of the 8 units will be sold fully furnished). Beautifully curated to be move-in ready, all apartments come with fully equipped kitchens and bathrooms and are completely furnished (except unit #4) from the designer furniture down to the wine glasses and flat screen TV. The fully furnished Studio and One Bedroom apartments range in size from 450 to 875 Sq. Ft. All of the units feature hardwood floors, marble countertops, recessed lighting and parking. All of the pictures included are of the actual apartments. 1724 N. El Cerrito offers everything one could want in a multi-family property: 100% vacant so you set market rents, beautifully appointed, perfectly located, separately metered , on-site owner-owned laundry, 8 parking spots at the rear, seismic retrofitted, large R4 lot and truly so much more! Conservative estimates for new 1 year leases for the 1 bedrooms is $2,750 and the studios at $2,200-$2,300 with tenants paying all their own utilities equate to $240,000 in annual gross income, which is a 12.47 GRM and a 5.34% cap rate (35% est. expenses, including 5% vacancy factor) Day 1 (once lease-up is complete).