800 N Hobart Blvd, Los Angeles, CA 90029 | 800 N Hobart Blvd
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800 N Hobart Blvd, Los Angeles, CA 90029 800 N Hobart Blvd
2 Unit Block of Flats £783,300 (£391,650/Unit) 7.75% Net Initial Yield Los Angeles, CA 90029
Investment Highlights
- Duplex on Over ±7,280 SF Lot in the Heart of Melrose Hill
- Upside Redevelopment Potential TOC Tier 2 Location (RD1.5-1XL Zoning)
- Value-Add Opportunity 13% Upside in Rents
Executive Summary
MUTOOF® is pleased to present 800 N Hobart Blvd, Los Angeles, CA 90029. Duplex on over ±7,280 SF lot in the heart of Melrose Hill. Huge value-add opportunity 13% upside in rents. Upside redevelopment potential TOC (Transit Oriented Communities) Tier 2 location that allows increased residential density (RD1.5-1XL zoning). Newly updated interior. 2.94 kW roof mounted photovoltaic solar system on both the main house and back unit which efficiently reduces electricity bills. Sub-metered.
Walk Score of 90 (Walkers Paradise). Excellent location near the major transit stops, highways (US-101 & SR-2) and shopping centers. Just two miles west of Hollywood, and five miles east of Downtown L.A. The subject property consists of total two (2) units totaling ±2,142 SF on a sizable ±7,281 SF lot. Mix of total one (1) 3beds/2baths unit and one (1) 1bed/1bath unit. The duplex property is being sold "as-is." The main house will be delivered vacant, while the back unit tenant will remain in possession. DO NOT DISTURB TENANTS. Please submit an offer with POF. Shown upon accepted offer.
Buyer is encouraged to independently verify the accuracy of any information through inspection(s), due diligence, and professionals. Broker and Agent do not guarantee the accuracy of any information concerning the size, condition, financials, or features of said property. Buyer to conduct their own due diligence and investigation of the property. Buyer and Buyer's agent to verify all information regarding the property to their full and complete satisfaction.
Walk Score of 90 (Walkers Paradise). Excellent location near the major transit stops, highways (US-101 & SR-2) and shopping centers. Just two miles west of Hollywood, and five miles east of Downtown L.A. The subject property consists of total two (2) units totaling ±2,142 SF on a sizable ±7,281 SF lot. Mix of total one (1) 3beds/2baths unit and one (1) 1bed/1bath unit. The duplex property is being sold "as-is." The main house will be delivered vacant, while the back unit tenant will remain in possession. DO NOT DISTURB TENANTS. Please submit an offer with POF. Shown upon accepted offer.
Buyer is encouraged to independently verify the accuracy of any information through inspection(s), due diligence, and professionals. Broker and Agent do not guarantee the accuracy of any information concerning the size, condition, financials, or features of said property. Buyer to conduct their own due diligence and investigation of the property. Buyer and Buyer's agent to verify all information regarding the property to their full and complete satisfaction.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£78,017
|
£36.42
|
| Other Income |
-
|
-
|
| Vacancy Loss |
£2,341
|
£1.09
|
| Effective Gross Income |
£75,676
|
£35.33
|
| Taxes |
£9,791
|
£4.57
|
| Operating Expenses |
£5,207
|
£2.43
|
| Total Expenses |
£14,999
|
£7.00
|
| Net Operating Income |
£60,678
|
£28.33
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £78,017 |
| Annual Per SF | £36.42 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | £2,341 |
| Annual Per SF | £1.09 |
| Effective Gross Income | |
|---|---|
| Annual | £75,676 |
| Annual Per SF | £35.33 |
| Taxes | |
|---|---|
| Annual | £9,791 |
| Annual Per SF | £4.57 |
| Operating Expenses | |
|---|---|
| Annual | £5,207 |
| Annual Per SF | £2.43 |
| Total Expenses | |
|---|---|
| Annual | £14,999 |
| Annual Per SF | £7.00 |
| Net Operating Income | |
|---|---|
| Annual | £60,678 |
| Annual Per SF | £28.33 |
Property Facts
| Price | £783,300 | Property Subtype | Apartment |
| Price Per Unit | £391,650 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 2,142 SF |
| Net Initial Yield | 7.75% | Number of Floors | 1 |
| No. Units | 2 | Year Built | 1921 |
| Property Type | Residential |
| Price | £783,300 |
| Price Per Unit | £391,650 |
| Sale Type | Investment |
| Net Initial Yield | 7.75% |
| No. Units | 2 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Lot Size | 0.16 AC |
| Building Size | 2,142 SF |
| Number of Floors | 1 |
| Year Built | 1921 |
Unit Amenities
- Air Conditioning
- Washer/Dryer Hookup
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 3+2 | 1 | £4,308 | 1,534 |
| 1+1 | 1 | £2,193 | 608 |
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Walk Score ®
Very Walkable (89)
zoning
| Zoning Code | RD1.5-1XL (Restricted Density Multiple Dwelling) |
| RD1.5-1XL (Restricted Density Multiple Dwelling) |
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800 N Hobart Blvd, Los Angeles, CA 90029 | 800 N Hobart Blvd
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