1042 Wilcox Avenue
1042 Wilcox Avenue
$5,300,000
38
38
9,880
9,880
$536
Description
Wow! We are pleased to present for sale a true value-add investment opportunity located in the heart of Hollywood. With ~58% of the building vacant, a new buyer has a fantastic opportunity to transform this residential hotel/apartment building into a Cash Cow! Known as the El Nido Hotel, the subject property consists of 38 studios with individual baths in each unit and is currently being rented on a monthly/weekly basis. 22 of the 38 units are currently vacant giving an investor the ability to renovate...Wow! We are pleased to present for sale a true value-add investment opportunity located in the heart of Hollywood. With ~58% of the building vacant, a new buyer has a fantastic opportunity to transform this residential hotel/apartment building into a Cash Cow! Known as the El Nido Hotel, the subject property consists of 38 studios with individual baths in each unit and is currently being rented on a monthly/weekly basis. 22 of the 38 units are currently vacant giving an investor the ability to renovate these units and re-rent at market rate. Monthly rent is estimated to be in excess of $42,000/month once vacancies are filled, yielding an incredible cap rate of 6.5%! (monthly proforma of over $51,000/month in income once all units are turned over!) The El Nido boasts a Walk Score of 95 and is in close proximity to shopping, dining, entertainment, studios, transit, and so much more! Lots of new development in the area (Tesla's new supercharging station with restaurant and movie screens opening less than a mile away!). Do not miss this opportunity to purchase an asset with tons of upside in a phenomenal location with high rental demand. Bankruptcy court sale, subject to overbid. Contact listing agent for more details or to schedule a showing!
- Listed by Daniel Shamooelian • DRE #01984269 • Brokerage DRE #01425795 • Keller Williams Beverly Hills
Property Details for 1042 Wilcox Avenue
Zoning
LAR3
Parcel Number5533014019
Total Units38.0
Living Area9880
Source Living AreaVendor Enhanced
AreaHollywood (C20)
Vacancy Rate58%
Lot Size Area6133
Location
LISTING UPDATED: 04/17/2024 12:01 AM
Property Details for 1042 Wilcox Avenue
Status | Active |
---|---|
MLS # | 24-375697 |
Days on Market | 25 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1928 |
Lot Size | 0.14 AC / 6,133 SF |
County | Los Angeles County |
Location
Building Information for 1042 Wilcox Avenue
Stories2Residences-Year Built1928Building Size-Lot Size0.14 AC / 6,133 SF
Payment Calculator
$29,834 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 1042 Wilcox Avenue
Property History for 1042 Wilcox Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1042 Wilcox Avenue
Taxable ValueLand$408,411Additions$408,411Total$816,822
Tax Record2023$10,919 ($910 / month)
Home Facts
Total Finished SqFt9,880 SqFtAbove Grade Finished SqFt9,880 SqFtStories2Lot Size6,131 SqFtStyleHotel / MotelYear Built1928ZoningLAR3CountyLOS ANGELESAPN5533-014-019
Schools near 1042 Wilcox Avenue
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 6 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | K to 5 |
Rating | School | Distance |
---|---|---|
Vine Street Elementary School PublicK to 6 | ||
Hubert Howe Bancroft Middle School Public6 to 8 | ||
Fairfax Senior High School Public9 to 12 | ||
Selma Avenue Elementary School PublicK to 5 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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