Los Angeles, CA 90046 1627 N Poinsettia Place
$5,495,000
6 more
Presented By: Errol Spiro with Miller & Desatnik Realty Co.;
Home Details
1627 N Poinsettia Place is a 20 unit multi-family property located in a prime Hollywood location. This three story apartment building was originally constructed in 1965 and falls under LA City rent control. The Poinsettia Place Residences are a large apartment building of approximately 14,817 Sq. Ft. The property has an excellent unit mix of (2) Studio (4) 2 BR + 2 Bath & (14) 1 BR + 1 Bath units. The rents are below market, creating a quintessential value-add opportunity. The property has recently received some significant renovations including a new master water heater. One of the 2 BR units is a spacious well renovated unit that is already receiving $3,548 a month in rent. The manager's unit which is a studio unit will be delivered vacant at the close of escrow. Two other 1 BR + 1 Bath units will also be delivered vacant. The building has gated subterranean parking. 1627 N Poinsettia provides an astute multi-family investor the opportunity to purchase a value-add multi-family asset in one the most highly sough after rental locations in all of Los Angeles.
Presented By: Errol Spiro with Miller & Desatnik Realty Co.;
Interior Features for 1627 N Poinsettia Place
Bedrooms
Total Bedrooms22
Bathrooms
1/4 Baths0
3/4 Baths0
Full Baths
Half Baths
Total Baths24
Other Interior Features
LivingAreaSourceAssessor
Air Conditioning Y/NNo
Basement (Y/N)No
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NYes
Street SuffixPlace
Total Stories3
General for 1627 N Poinsettia Place
Additional Parcels Y/NNo
AppliancesDishwasher, Refrigerator
Attached Garage No
Cap Rate4.56
Carport Y/NNo
CityLos Angeles
CountyLos Angeles
Days on Market8
DirectionsNorth of Sunset Blvd. & West La Brea Ave.
Garage Y/NNo
Gross Income419837.0
HOA / Comm AssnNo
HeatingWallFurnace
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsThreeOrMore
Lot Size Square Feet8439.0
MLS AreaC20 - Hollywood
MobileHomeRemainsYNNo
Net Operating Income250841.0
New ConstructionNo
Private PoolNo
Property Attached Y/NNo
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Street NamePoinsettia
Total Units20
ViewNone
View Y/NNo
Waterfront Y/NNo
Year Built1965
Year Built SourceAssessor
ZoningLAR3
Exterior for 1627 N Poinsettia Place
Building Area Total14817.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Dimensions60x140
Lot Size Acres0.1937
Lot Size Area8439.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
LotDimensionsSourceAssessor
Number of Buildings1
Open Parking Y/NNo
Parking FeaturesUnderground, Gated
SpaNo
Total Parking22.0
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480