Description

PRICE JUST REDUCED 25%

Welcome to 4537-4545 S. Santa Monica Blvd., a Ready to Issue (RTI) mixed-use development located in the trendy Virgil Village neighborhood of East Hollywood. The subject offering presents an investor  with an excellent TOC 3 development site totaling +/-34,000 square feet situated on a 9,986 square foot lot. The building features 23 mostly two bedroom residential units with an average size of 755 square feet. +/-6,000 square feet of retail space makes this property ideal for multiple neighborhood uses. This project is also projected to produce an annual gross operating income of $1,080,792. The property is just one block from the corner of Santa Monica Blvd. and Virgil Avenue.

The subject site is conveniently located within walking distance of the Vermont/SM Metro stop which would allow the residents to travel throughout Los Angeles on foot. Residents will also be able to enjoy
amenities such as a pool, fitness center, rooftop deck that is equipped with barbeques, and views. The location of this site is rapidly gentrifying with a Erewhon opening 4 block west of the site, hip coffee shops and restaurants surrounding the site, and trendy bars/nightclubs in close proximity. Some of Los Angeles’s biggest employers are also located within a couple miles, and these employers include Los Angeles Children Hospital, Kaiser Permanente, and others. The property is just one block from the corner of Santa Monica Blvd. and Virgil Avenue.

 

  • Proforma Gross Operating Income of $1,080,792
  • Project Sold RTI (ready to issue) for 23 units, +/- 6,000 square feet of retail which equates to a total of 34,000 square feet.
  • Most Units are 2-bedroom units, making the property ideal for multiple neighborhood uses. The average unit size is 755 square feet.
  • Excellent TOC 3 development Site.
  • Amenities include a pool, a fitness center, conference rooms, a rooftop deck, and views.
  • One block from the corner of Santa Monica Blvd. and Virgil Avenue
  • Minutes to Virgil Village and Silver Lake
  • Seven minute walk to Erewhon Market


23
Units

33
Parking Spaces

Property ID

4537-4545 S. Santa Monica Blvd, Los Angeles, CA 90029

Property Type

multifamily

Status

for sale

Price

$3,900,000.00

Rental Includes

NSwimming Pool


Agents

Ariel Aghachi

Ariel Aghachi

Investment Associate

  • (310) 464-1562
  • (310) 740-5705
  • AA@MaherCR.com
  • MaherCR.com
Oron Maher

Oron Maher

Director Broker

  • (310) 464-1453
  • (415) 378-5464
  • OM@MaherCR.com
  • MaherCR.com

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