1129 Lodi Place

Los Angeles, CA 90038

$3,100,000
Price
10
Beds
12
Baths
5,212 Sq. Ft.
$595 / Sq. Ft.
5,212
Sq. Ft.
$595
per Sq. Ft.

Description

Huge 700k Price Reduction! 8-unit building with 7 fully renovated units in Prime Hollywood cash flowing at an incredible Current Cap Rate of 6.1% and 11.9 GRM from day 1! The 7 units have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, new Mini Split AC systems, stainless steel appliances, washer/dryer inside, as well as major exterior capital improvements (4 vacant). The unit mix provides unparalleled...Huge 700k Price Reduction! 8-unit building with 7 fully renovated units in Prime Hollywood cash flowing at an incredible Current Cap Rate of 6.1% and 11.9 GRM from day 1! The 7 units have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, new Mini Split AC systems, stainless steel appliances, washer/dryer inside, as well as major exterior capital improvements (4 vacant). The unit mix provides unparalleled versatility, including 2 spacious (2bed/3bath) units ideal for families, as well as 6 modern (1bed/1bath) units perfect for individuals seeking comfort and style. Each unit is individually metered for gas and electricity, ensuring convenience and efficiency. On top of that, the major systems have been updated including electrical, plumbing, HVAC, etc. Furthermore, there's an additional upside to 6.9% Cap Rate and 10.7 GRM on proforma. The property is located in the heart of the Hollywood entertainment industry just minutes away from Netflix studios, Paramount Studios, and Netflix Corporate office. Located just steps away from the world-famous Sunset Blvd, the property offers close proximity to neighborhood attractions, restaurants, bars, and shops such as the Hollywood Walk of Fame, Highlight Room, TAO, Bar-Lis, Dream Hotel, Thompson Hotel, and many more popping up all around the area.
  1. Listed by Armin Soleimani • DRE #01846872 • Brokerage DRE #01911261 • Global Platinum Properties, Inc.
  2. Listed by Julio Ruiz • DRE #01911261 • Brokerage DRE #01911261 • Global Platinum Properties, Inc.

Property Details for 1129 Lodi Place

Zoning
LARD1.5
Parcel Number
5534007017
Total Units
8.0
Living Area
5212
Source Living Area
Owner
Area
Hollywood (C20)
Vacancy Rate
4 Units
Lot Size Area
6766

Location

Listing Courtesy of Global Platinum Properties, Inc., Armin Soleimani, DRE #01846872; Global Platinum Properties, Inc., Julio Ruiz, DRE #01911261
Add your commute
LISTING UPDATED: 04/10/2024 02:58 PM

Property Details for 1129 Lodi Place

StatusActive
MLS #24-365933
Days on Market56
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1953
Lot Size0.16 AC / 6,766 SF
CountyLos Angeles County

Location

Listing Courtesy of Global Platinum Properties, Inc., Armin Soleimani, DRE #01846872; Global Platinum Properties, Inc., Julio Ruiz, DRE #01911261
Add your commute

Building Information for 1129 Lodi Place

Stories2Residences-Year Built1953Building Size-Lot Size0.16 AC / 6,766 SF

Payment Calculator

$16,918 per month

30 year fixed, 7.25% Interest

Principal and Interest

$16,918

Property Taxes

—

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1129 Lodi Place

Community / Development
Community / Development
  • Number Of Units: 8
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Low Rise
  • Water Heaters: Yes
  • Building Permit: Yes
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $252,180
  • Net Operating Income: $189,029.00
  • Gross Income: $259,979
  • Cap Rate: 6.10%
  • Gross Rent Multiplier: $11.90
  • Total Annual Expense: 63151
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1553
  • Lot Size Square Feet: 6766
Parking Details
Parking Details
  • Parking Garage: Assigned, Carport, Tandem
  • Total Parking: 8
  • Parking Features: Assigned, Carport, Tandem Garage
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Air Conditioning, Multi/Zone
  • Heating: Zoned, Electric
  • Heating Type: Zoned, Electric
  • Equipment: Refrigerator, Range/Oven, Other
  • Laundry: In Unit, Inside
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 03-06-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,995.00
  • Unit Actual Rent: $1,480.00
  • Unit Projected Rent: $3,750.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $3,750.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $3,750.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,750.00
  • Unit Actual Rent: $2,750.00
  • Unit Projected Rent: $2,750.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $3,750.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $3,750.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,750.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,750.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,395.00
  • Unit Actual Rent: $2,395.00
  • Unit Projected Rent: $2,395.00
  • Like Units: 1
Unit 7 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,395.00
  • Unit Actual Rent: $2,395.00
  • Unit Projected Rent: $2,395.00
  • Like Units: 1
Unit 8 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,395.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,395.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $700,893.00
  • Assessed Improvement Percent: 50.0
  • Assessed Land Value: $700,893.00
  • Assessed Land Percent: 50
  • Assessed Total Value: $1,401,786.00

Property History for 1129 Lodi Place

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 1129 Lodi Place

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - K to 6
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
Hollywood Elementary
PublicK to 5

Vine Street Elementary School
PublicK to 6

Joseph Le Conte Middle School
Public6 to 8

Hollywood Senior High School
Public9 to 12

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.

Similar Homes

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1129 Lodi Place is a multi-family home for sale in Los Angeles, CA 90038. This property was listed for sale on March 6, 2024 by Global Platinum Properties, Inc., it's currently listed at $3,100,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Hollywood Elementary, Vine Street Elementary School and Joseph Le Conte Middle School. 1129 Lodi Place is a 10-bed, 12-bath, 5,212 sqft multi-family home built in 1953.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Global Platinum Properties, Inc., Armin Soleimani, DRE #01846872; Global Platinum Properties, Inc., Julio Ruiz, DRE #01911261

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.