Iconic Lists Thirty | 43 Apartments

acb079ff-3327-4c3f-a91f-201b17851572.jpg
Iconic Lists El Sereno Apartments
d627828a-98d4-450a-910a-86370c44cbe9.jpg

Thirty | 43 Apartments is a 6-unit multifamily property located at 3043 Hollister Avenue in the heart of the El Sereno sub-market of Los Angeles. Situated between Downtown Los Angeles and South Pasadena, the El Sereno neighborhood is undergoing rapid growth and urbanization as older stock apartment buildings are being renovated and upgraded to appeal to the Millennials seeking affordable housing alternatives. New construction homes, fourplexes, retail and entertainment options are transforming this once sleepy-bedroom community into a vibrant city-like location.

Built in 1964 and sitting on approximately 7,500 square feet of land, the 4,772 square foot property enjoys a unit mix of all 2-Bed/1-Bath units which are individually metered for both gas and electric. The property is located on a quiet residential street, with mostly single-family homes, providing a cozy neighborhood-like feel with abundant street-parking for guests. Directly across the street is an example of a home that has been recently renovated to appeal toward Millennials.

64fb7d17-9065-4106-84ac-9be62c26a565-1.jpg
► Record-Breaking Sale at $200,000 Per Unit for a Value-Add Property ► Requires an Additional $300,000 in Renovation Costs ► Sold with 3 Vacant Units – Buyer Paid Relocation Costs for Remaining 2 Units

► Rapidly Growing and Changing Submarket

► Charming and Spacious 2-Bedroom/1-Bath Units

► Additional Upside Through Turnover and Renovation

► Located on a Quiet Residential Street

17e651e9-df86-492b-a7e5-d774d910de25.jpg

► Going-In CAP Rate of 4.80%

► Easily Achieve a 7.22% Pro-forma CAP with Sec 8 Tenants

► 3 of the 6 Units Have Been Renovated

► Low Expenses – Individually Metered + Water Heaters

► Purchase with 65-68% Loan-to-Value

Iconic Investments Peter Strauss
3cfe3e69-0589-4594-9a2b-e1635acbee42.jpg
f2ac8039-9975-4248-8261-127ffbf8f957.jpg
33c02ef3-bf5a-4821-9d4a-e711e4f5aec7.jpg

Iconic Logo 2.jpg