$5,250,000

423 N Harvard Boulevard, Los Angeles, CA 90004

14,373

Lot Size

16

# Of Units

Listing Agent
Anie Mayelian - Equity Union - 818-915-9118

We are pleased to present 423 N Harvard, a 16-unit building situated near Western and Beverly Blvd, bordering Hollywood and Koreatown. Owner has schematic drawings for the construction of four 1 bedroom/ 1 bath ADU's which may enhance the rental income to $441,204 and the cap rate to 5.5%. The total expenditure of approximately $300,000 to build four ADU's may generate additional rent of $9,450.00 a month. Per owner, it may take approximately 36 months to recoup the costs of the ADU construction. See pages 23-27 for ADU estimate and drawings. Current building was built in 1965, the building consists of three 2 bedroom/2 bath units, three 2 bedroom/1 bath units, and ten 1 bedroom/1 bath units. 10 of the 16 units have been expertly renovated in the last six years with various upgrades such as new appliances, quartz kitchen and bathroom countertops, porcelain tiles, and new windows. Each unit is separately metered for gas and electric and each unit has individual or tandem carport parking. The building also underwent a seismic retrofit in 2021. The subject is centrally located to endless dining, entertainment, hotels, and a short distance from the World Famous Hollywood Walk of Fame, Paramount Studios, Netflix, Larchmont, and Hollywood Bowl. The ease of access to Hollywood, Downtown LA, and other hubs of Los Angeles is incomparable!

Facts & Features

MLS® # SR22254642
Price $5,250,000
Bathrooms 0.00
Lot Size 14,373
Year Built 1965
Type Residential Income
Sub-Type Apartment
Status Active
# Of Units 16

Community Information

Address 423 N Harvard Boulevard
Area C17 - Mid-Wilshire
City Los Angeles
County Los Angeles
State CA
Zip Code 90004

Amenities

Parking Spaces 15
Parking Covered, Carport, Tandem, Uncovered
Garages Covered, Carport, Tandem, Uncovered
Is Waterfront No
Has Pool No
Pool None

Interior

Has Basement No
Fireplace No
Stories Two

Additional Information

Date Listed December 12th, 2022
Days on Market 54
Zoning LAR3
Foreclosure No
Short Sale No
RE / Bank Owned No
HOA Fees 0.00

Listing Details

AgentAnie Mayelian
OfficeEquity Union
Info818-915-9118

Listing Map

Request a Showing

Provide a valid email address.
When would you like to view this property?