This is a bankruptcy sale that will be subject to a court overbid. We are pleased to present 1825 Tamarind Ave, a multifamily investment opportunity totaling 33 units in prime Hollywood just south of Franklin Ave across the street from the Church of Scientology. The subject property consists of two structures featuring a unit mix of 20 singles, nine one-bedrooms, three two-bedrooms, and one three bedrooms; there are 33 parking spaces, a mix of tuck under parking and uncovered spaces at the rear of the property; nine units will be delivered vacant at the close of escrow, allowing an investor to renovate and achieve market rents immediately. True value add opportunity with the majority of the rents below market;5.35% CAP rate & 10.89 GRM at the asking price with an additional 28% rental upside; additionally, the abundant parking and storage spaces create an opportunity to add several ADU’s via the newly passed SB1211 (Buyer to verify). Units are well-maintained but can be enhanced through interior renovations to achieve market rents such as new flooring, recessed lighting or new fixtures, updated bathrooms & kitchens, and appliances. High walk score of 87, half of a mile from the Metro B rail line and walking distance to multiple Metro local lines along Franklin Ave. Major employers in Los Angeles such as Live Nation, Capitol Records, HBO and Netflix among many others. Significant affordability gap to home ownership in Hollywood. The monthly payment on a median-priced home inclusive of condos is drastically higher than average rents in the area, which serves as a constant occupancy driver for apartment communities in Hollywood.
Property Details
Price:
$6,700,000
MLS #:
25478521
Status:
Active
Baths:
0
Address:
1825 Tamarind Ave
Type:
Residential Income
Neighborhood:
c20hollywood
City:
Los Angeles
Listed Date:
Dec 23, 2024
State:
CA
ZIP:
90028
Lot Size:
18,513 sqft / 0.43 acres (approx)
Year Built:
1965
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Schools
Interior
Cooling
None
Heating
None
Exterior
Parking Features
None
Parking Spots
33.00
Stories Total
3
Financial
Map
Community
- Address1825 Tamarind Ave Los Angeles CA
- AreaC20 – Hollywood
- CityLos Angeles
- CountyLos Angeles
- Zip Code90028
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Courtesy of Marcus & Millichap. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2025. California Regional Multiple Listing Service. All rights reserved.
1825 Tamarind Ave
Los Angeles, CA
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