1645 Courtney Avenue

Los Angeles, CA 90046

$3,650,000
Price
16
Beds
12
Baths
9,240 Sq. Ft.
$395 / Sq. Ft.
9,240
Sq. Ft.
$395
per Sq. Ft.

Description

1645 Courtney Avenue and 7706 Hollywood Blvd are being offered for sale for the first time in over 50 Years! The offering consists of 22 Units and 17,580 of rentable living space located in the heart of Hollywood just off of Nichols Canyon. This unique rarely traded asset is situated in one of the most desirable rental markets in Los Angeles adjacent West Hollywood. There is an excellent unit mix consisting of Six 2 Bedroom / 1 Bathroom, fourteen 1 Bedroom / 1 Bathroom & Two Studio Units which is...1645 Courtney Avenue and 7706 Hollywood Blvd are being offered for sale for the first time in over 50 Years! The offering consists of 22 Units and 17,580 of rentable living space located in the heart of Hollywood just off of Nichols Canyon. This unique rarely traded asset is situated in one of the most desirable rental markets in Los Angeles adjacent West Hollywood. There is an excellent unit mix consisting of Six 2 Bedroom / 1 Bathroom, fourteen 1 Bedroom / 1 Bathroom & Two Studio Units which is very desirable for today's rental market. Furthermore, 12 Units are being delivered Vacant at the close of escrow! This is a unique opportunity for a savvy investor to acquire a value-add property and immediately recognize it's potential. Additionally, the properties sit on a large 20,307 sf lot split between two parcels to prevent against ULA Tax for a potential exit strategy.
  1. Listed by Michael Monempour • DRE #01996829 • Brokerage DRE #01399621 • Lyon Stahl Investment Real Estate, Inc.

Property Details for 1645 Courtney Avenue

Zoning
LAR3
Parcel Number
5551013009
Total Units
12.0
Living Area
9240
Source Living Area
Vendor Enhanced
Area
Hollywood (C20)
Vacancy Rate
66.6
Lot Size Area
9936

Location

Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., Michael Monempour, DRE #01996829
Add your commute
LISTING UPDATED: 04/04/2024 12:01 AM

Property Details for 1645 Courtney Avenue

StatusActive
MLS #24-373435
Days on Market32
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1949
Lot Size0.23 AC / 9,936 SF
CountyLos Angeles County

Location

Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., Michael Monempour, DRE #01996829
Add your commute

Building Information for 1645 Courtney Avenue

Stories2Residences-Year Built1949Building Size-Lot Size0.23 AC / 9,936 SF

Payment Calculator

$20,422 per month

30 year fixed, 7.25% Interest

Principal and Interest

$19,920

Property Taxes

$502

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1645 Courtney Avenue

Community / Development
Community / Development
  • Number Of Units: 12
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Original
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: $305,503
  • Net Operating Income: $199,430.00
  • Gross Income: $314,952
  • Cap Rate: 5.46%
  • Gross Rent Multiplier: $11.59
  • Total Annual Expense: 106074
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2281
  • Lot Size Square Feet: 9936
Parking Details
Parking Details
  • Parking Garage: Above Street Level
  • Total Parking: 8
  • Parking Features: Driveway Down Slope From Street
Interior Features
Interior Features
  • Levels: Two
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window
  • Heating: None
  • Heating Type: None
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 03-27-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,545.00
  • Unit Actual Rent: $10,179.00
  • Unit Projected Rent: $11,000.00
  • Like Units: 4
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,102.00
  • Unit Actual Rent: $13,200.00
  • Unit Projected Rent: $12,617.00
  • Like Units: 6
Unit 3 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,650.00
  • Unit Actual Rent: $3,300.00
  • Unit Projected Rent: $3,300.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $178,101.00
  • Assessed Improvement Percent: 53.17
  • Assessed Land Value: $156,845.00
  • Assessed Land Percent: 46.83
  • Assessed Total Value: $334,946.00

Property History for 1645 Courtney Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 1645 Courtney Avenue

Taxable ValueLand$156,845Additions$178,891Total$335,736
Tax Record2023$6,024 ($502 / month)
Home Facts
Total Finished SqFt9,240 SqFtAbove Grade Finished SqFt9,240 SqFtLot Size9,933 SqFtStyleMulti-Family Res (5+ Units)Year Built1949ZoningLAR3CountyLOS ANGELESAPN5551-013-009

Schools near 1645 Courtney Avenue

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

Hubert Howe Bancroft Middle School
Public6 to 8

Hollywood Senior High School
Public9 to 12

Fairfax 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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1645 Courtney Avenue is a multi-family home for sale in Los Angeles, CA 90046. This property was listed for sale on March 27, 2024 by Lyon Stahl Investment Real Estate, Inc., it's currently listed at $3,650,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Gardner Street Elementary School, Hubert Howe Bancroft Middle School and Hollywood Senior High School. 1645 Courtney Avenue is a 16-bed, 12-bath, 9,240 sqft multi-family home built in 1949.

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 Lyon Stahl Investment Real Estate, Inc., Michael Monempour, DRE #01996829

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.