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$5,095,000
Est. payment /mo
18 Beds
24 Baths
14,817 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 14,817 sqft
Price per Sqft $343
MLS Listing ID 25551207
Bedrooms 18
HOA Y/N No
Year Built 1965
Lot Size 8,437 Sqft
Property Description
1627 N Poinsettia Place is a 20-unit situated in a prime Hollywood locationone of the most desirable rental submarkets in Los Angeles. Originally built in 1965, the three-story building spans approximately 14,817 square feet. The asset features an ideal unit mix consisting of: (2) Studio units, (14) One-Bedroom / One-Bath units, (4) Two-Bedroom / Two-Bath units. The majority of units are currently rented at below-market rates, presenting a classic value-add opportunity for investors seeking long-term upside through renovation and repositioning. Notable recent capital improvements include a new elevator system and upgraded master water heater, enhancing both reliability and tenant experience. One of the two bedroom units serves as a spacious, well-renovated owner's unit, while the on-site manager's studio unit will be delivered vacant at close of escrow, offering flexibility for new management or rental use. Additional property highlights include gated subterranean parking, a rare and desirable amenity in this dense urban area. This offering presents a unique opportunity for an astute multifamily investor to acquire a well-located, income-generating asset with significant upside potential in the heart of Hollywood.
Location
State CA
County Los Angeles
Area C20 - Hollywood
Zoning LAR3
Interior
Heating Wall Furnace
Fireplace No
Appliance Dishwasher, Refrigerator
Exterior
Parking Features Underground
Total Parking Spaces 22
Building
Story 3
Entry Level Three Or More
Level or Stories Three Or More
New Construction No
Others
Senior Community No
Tax ID 5548009033
Special Listing Condition Standard
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Listed by Errol Spiro Miller & Desatnik Realty Co.