THE OFFERING

PROPERTY SUMMARY

El Capri, a true value-add multi-family investment opportunity features 21 units (18 – 1 Bd + 1 Bth & 3 – Studio + 1 Bth) with significant upside in rents and boasts 5.94% Pro Forma Cap Rate & 11.52 Pro Forma GRM.

This represents a rare opportunity to acquire a property that has already undergone vital, major, and costly infrastructure updates including Soft Story Seismic Retrofit in 2015, New Cool Roof in 2016, New Hot Water Heater, and a New Solar Hot Water Heating System in 2018. The property also features two completely renovated 1 bedroom units and benefits from improved railings, new courtyard deck upgrades and paint, and partial copper re-piping.

A sophisticated investor has the potential to capitalize on the Seller’s big ticket investments in the property’s infrastructure, by coupling it with high impact/low cost exterior aesthetic updates. Whether an investor seeks to hold and reposition, or hold then develop, the possibility of outstanding future income opportunities await. Located on a double lot with alley access, the property is located in a Transit Oriented Community (TOC) and is designated as a Tier 2 Property. Located just south of Santa Monica Blvd. and just east of Vine St. It has a walk score of 90 (Walker’s Paradise) and is located within close proximity to Hollywood studios, major employers, prime points of interest, recreation, restaurants, shopping districts, major thoroughfares and mass transit.

EXISTING LOAN & ASSUMABLE LOAN: 6126 Eleanor Avenue is currently secured by an existing and assumable loan that bears an interest rate of 3.55%, fixed until September 2023.

Parcel

Units

Unit Mix

Building SF

Lot SF

Year Built

Zoning

Parking

Metering

Construction

5534-024-027

21

3 - Studio / 1 Bath

18 - 1 Bed / 1 Bath

12,108 SF

12,976 SF

1959

LAR3

26 Gated Spaces (10 Covered +

16 Covered

Separately Metered for Gas & Electric​

Wood Frame / Stucco Overlay

HOLLYWOOD LOCATION