Description
Built in 2021, 426 N Alexandria Ave is a brand new construction affordable multifamily apartment building located in the vibrant culture of Hollywood and Koreatown. The property is comprised of 8 furnished, 5 bedroom and 5 bathroom suites designed for comfort, convenience, and community. The property features a total of 40 private suites most with en-suite bathrooms. The building has 15 subterranean parking spaces (7 standard, 7 compact, and 1 disabled). Each unit comes with washers and dryers, stainless steel appliances, European designed cabinetry, balconies, reserved parking, mobile-friendly thermostats, and central AC. The entire building can be delivered vacant and all suites can be leased to one master tenant. All utilities are included along with WI-FI and high-speed internet. The building features full-circle views of Los Angeles and is walking distance to the Metro, local restaurants, shopping, grocery stores and pharmacies.
Property Features:
Purchase Price: $10,225,000
Price Per Suite: $255,625
Price Per Sq.Ft.: $611.18
Number of Suites: 40
Proforma Cap Rate: 5.11%
Number of 5 Bed/5 Bath Suites: 5
Building Size: ±16,730 Sq. Ft.
Land Area: ±7,474 Sq. Ft.
Gross Income: $750,816/year
Effective Gross Income: $794,943
NOI: $522,862
Zoning: R3-1
GRM: 12.91
Parking: 15 Spaces
Year Built: 2021
Property Highlights:
- 40 fully furnished suites with private bathrooms and natural light
- Controlled Access
- Pet-friendly communities
- 15 parking spaces in a gated and subterranean garage
- Community rooftop sky deck with BBQ grill station, picnic tables, and parasols
- Central A/C & smart thermostats
- Quartz countertops
- Two-tone cabinetry
- Stainless steel appliances: range, oven, microwave, refrigerator, freezer, dishwasher
- Washer/Dryer in units
- High speed internet
- Private suites equipped with: Queen size bed, a floor length mirror, a bedside table and lamp, and a desk with a chair.
