Description

Built in 2021, 426 N Alexandria Ave is luxury boutique located in the vibrant culture of Hollywood and Koreatown and features full-circle views of Los Angeles with conveniences to delicious food, nightlife, and easy access to grocery stores and pharmacies.

The property is comprised of 8 fully-furnished 5 bedroom and 5 bathroom rooms designed for comfort, convenience, and community. The property features 40 private rooms with private baths alongside 15 parking spaces (7 standard, 7 compact, and 1 disabled), in-unit washers and dryers, stainless steel appliances, European designed cabinetry, balconies and reserved parking, stylish flooring, mobile-friendly thermostats, central AC, balconies and reserved parking.

The entire building is master-leased to a seasoned Co-Living Operator who’s lease commenced in November, 2023 and matures in 2029. The 2024 monthly annual rent is $49,400 starting March 1, 2024, rending this a 5.8% cap rate through the end of 2025. Additional rent escalations in future years are tied to market conditions.

Tenants enjoy a private room with a bathroom in a luxury boutique building with a queen size bed. All utilities are already connected, including high-speed internet. There is a 360-degree view of the city from a furnished rooftop in a location with a “walking score of 85”. 426 North Alexandria Avenue is a nine-minute walk from the Metro B Line (Red) at the Vermont / Beverly Station stop. Nearby parks include Lemon Grove Park, Shatto Recreation Center, and South Serrano Avenue Historic District. The Property is centrally located in Melrose Hill and a short distance away from Larchmont, Downtown, and Hollywood.

Property Features:

Purchase Price: $10,225,000
Price Per Room: $255,625
Price Per Sq.Ft.: $611.18
Number of Rooms: 40
Proforma Cap Rate: 5.11%
Number of 5 Bed/5 Bath Rooms: 5
Building Size: ±16,730 Sq. Ft.
Land Area: ±7,474 Sq. Ft.
Gross Income: $543,400/year
Parking: 15 Spaces
Year Built: 2021

Property Highlights: 

  • 40 fully furnished rooms with private bathrooms and natural light
  • Built in 2021
  • 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 roomss equipped with: Queen size bed, a floor length mirror, a bedside table and lamp, and a desk with a chair. 

16730
Area Sq-ft

Property ID

426 Alexandria Avenue, Los Angeles, CA_sale

Property Type

Multifamily

Area

16730 Sq-ft

Built in

2021

Status

For Sale

Price

$10,225,000.00

Additional Features

N

los ángeles investment opportunity

N

los angeles multifamily for sale

N

maher commercial realty

N

multi-family income property

N

multifamily for sale


Agents

Oron Maher

Oron Maher

Director Broker

  • (310) 464-1453
  • Oron@MaherCR.com
  • MaherCR.com
Edmund Ha

Edmund Ha

Managing Director

  • 310-567-0077
  • Edmund@MaherCR.com
  • MaherCR.com

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