Current 6.1% Cap, 11.1 GRM, $182,813 / Unit | 1803 N Wilton Pl
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Current 6.1% Cap, 11.1 GRM, $182,813 / Unit 1803 N Wilton Pl
16 Unit Block of Flats £2,344,388 (£146,524/Unit) 6.10% Net Initial Yield Los Angeles, CA 90028
Investment Highlights
- 1803 N Wilton Place is a 16-Unit investment in Hollywood | Current Metrics - 11.1GRM, $182,813 per unit and 6.1 Cap Rate
- The unit interiors boast original hardwood floors, multiple built-in storage options, and a walk-in closet large enough to possibly fit a Murphy Bed.
- The location is ideal for tenants as it sits on the edge of Hollywood and Los Feliz and is near many of the City's primary employer.
- It boasts 16 large Studios. It's a character building with unique design elements like stained glass windows, carved etchings and ornate wrought iron.
- Future ownership will have the opportunity to add immediate value as two units will be delivered vacant at the close of escrow.
- It has a WALKSCORE OF 85 and is considered "Very Walkable." It is close to several hotspots, considered some of LA's most popular destinations.
Executive Summary
1803 N Wilton Place is a beautiful 1920's sixteen-unit apartment community in Hollywood (90028). The offering offers investors a unique and rare opportunity to acquire an irreplaceable asset with meaningful rental upside in one of LA's most dynamic and stable markets.
1803 N Wilton Place was built in 1925 and consists of 9,377 SF of improvements. The building consists of sixteen (16) large Studio apartment units. Each unit is separately metered for electricity, and the building is master metered for gas. Additionally, as an added amenity, there's a laundry room for tenant use – the machines are owned.
1803 N Wilton Place is teeming with original details throughout the property. The façade offers authentic craftsmanship, in keeping with the building's 1920s design. There are stained glass windows, carved etchings, and ornate wrought iron. These also are not your ordinary Studio apartments. The units are large and full of original character, including original hardwood floors, multiple built-in storage options, and a walk-in closet large enough to possibly fit a Murphy Bed.
With its prime location in Hollywood, 1803 N Wilton Place is an outstanding rental location for residents looking for immediate access to major Hollywood employers, services, and entertainment venues. Additionally, the proximity to world-class neighboring venues makes this an ideal investment for apartment operators seeking a stable investment opportunity along with long-term wealth preservation and appreciation.
1803 N Wilton Place was built in 1925 and consists of 9,377 SF of improvements. The building consists of sixteen (16) large Studio apartment units. Each unit is separately metered for electricity, and the building is master metered for gas. Additionally, as an added amenity, there's a laundry room for tenant use – the machines are owned.
1803 N Wilton Place is teeming with original details throughout the property. The façade offers authentic craftsmanship, in keeping with the building's 1920s design. There are stained glass windows, carved etchings, and ornate wrought iron. These also are not your ordinary Studio apartments. The units are large and full of original character, including original hardwood floors, multiple built-in storage options, and a walk-in closet large enough to possibly fit a Murphy Bed.
With its prime location in Hollywood, 1803 N Wilton Place is an outstanding rental location for residents looking for immediate access to major Hollywood employers, services, and entertainment venues. Additionally, the proximity to world-class neighboring venues makes this an ideal investment for apartment operators seeking a stable investment opportunity along with long-term wealth preservation and appreciation.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£205,717
|
£21.94
|
| Other Income |
-
|
-
|
| Vacancy Loss |
£4,114
|
£0.44
|
| Effective Gross Income |
£201,603
|
£21.50
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
£65,530
|
£6.99
|
| Net Operating Income |
£136,073
|
£14.51
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £205,717 |
| Annual Per SF | £21.94 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | £4,114 |
| Annual Per SF | £0.44 |
| Effective Gross Income | |
|---|---|
| Annual | £201,603 |
| Annual Per SF | £21.50 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | £65,530 |
| Annual Per SF | £6.99 |
| Net Operating Income | |
|---|---|
| Annual | £136,073 |
| Annual Per SF | £14.51 |
Property Facts
| Price | £2,344,388 | Apartment Style | Low Rise |
| Price Per Unit | £146,524 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Net Initial Yield | 6.10% | Building Size | 9,377 SF |
| Gross Rent Multiplier | 11.1 | Average Occupancy | 88% |
| No. Units | 16 | Number of Floors | 2 |
| Property Type | Residential | Year Built | 1925 |
| Property Subtype | Apartment | Parking Ratio | 0.43/1,000 SF |
| Price | £2,344,388 |
| Price Per Unit | £146,524 |
| Sale Type | Investment |
| Net Initial Yield | 6.10% |
| Gross Rent Multiplier | 11.1 |
| No. Units | 16 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 9,377 SF |
| Average Occupancy | 88% |
| Number of Floors | 2 |
| Year Built | 1925 |
| Parking Ratio | 0.43/1,000 SF |
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Walk Score ®
Very Walkable (84)
PROPERTY TAXES
| Parcel Number | 5586-033-011 | Improvements Assessment | £776,654 (2024) |
| Land Assessment | £1,635,060 (2024) | Total Assessment | £2,411,714 (2024) |
PROPERTY TAXES
Parcel Number
5586-033-011
Land Assessment
£1,635,060 (2024)
Improvements Assessment
£776,654 (2024)
Total Assessment
£2,411,714 (2024)
zoning
| Zoning Code | LARD1.5 |
| LARD1.5 |
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Current 6.1% Cap, 11.1 GRM, $182,813 / Unit | 1803 N Wilton Pl
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