1045 N Ardmore Avenue

Marcus and Millichap is pleased to present a thirteen (13) unit apartment building located at 1045 N Ardmore Avenue in Los Angeles, California. The subject property is located in a prime East Hollywood location, south of Santa Monica Boulevard and east of Western Avenue.

Built in 1963, this 13-unit property is ideally located in a prime East Hollywood location adjacent to the highly desirable Silver Lake neighborhood. Priced attractively at just $299,000 per unit and $361 per square foot, this investment offers immediate cash flow with a solid cap rate of 5.01% from day one. It features an excellent unit mix that includes one studio, nine one-bedrooms, and three two-bedroom units, with seven of them recently renovated—two of which are brand-new attached ADUs. Tenants enjoy a secure, gated environment with amenities such as a communal laundry room, large balconies and patios, and nine on-site parking spaces. Many units feature upgraded cabinets, flooring, lighting, and bathrooms, complemented by significant exterior enhancements including a completed soft story retrofit.

Nestled in a prime East Hollywood Location, this offering presents an excellent opportunity for an investor to capitalize on a solid initial cap rate of 5.01% on a property priced at just $299,000 per unit and $361 per square foot.