1042 Wilcox Avenue

Los Angeles, CA 90038

$4,700,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $475 / sqft

1928

calendar_month Built

Property 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. 23 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 7.33%!! (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!

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A
Interior Information
Cooling Type None

Listing Information

Address 1042 Wilcox Avenue
City Los Angeles
State CA
Zip 90038
County Los Angeles
Listing Agent Daniel Shamooelian DRE#01984269
Courtesy Of Keller Williams Beverly Hills
MLS 24375697
List Price $4,700,000
Status Active
Type Residential Income
Structure Size N/A
Lot Size 6,133
Year Built 1928
DOM 36

Exterior Information

Maps

Listing information courtesy of: Daniel Shamooelian, Keller Williams Beverly Hills . *Based on information from the Association of REALTORS/Multiple Listing as of May 14th, 2024 at 9:17 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.