1255 N Gower Street,Los Angeles, CA 90038
Los Angeles, CA 90038
Description
1255 N Gower St is an exceptional opportunity to acquire a luxury new-construction 5-unit multifamily property in the heart of Hollywood. Featuring modern architecture, elevated designer finishes, custom built-ins, oversized windows, and thoughtfully designed interiors, this turnkey asset offers investors a high-quality, low-maintenance investment in one of Los Angeles' most desirable rental markets. Spanning approximately 6,091 square feet across two buildings, the property features four spacious 3-bedroom residences and one 2-bedroom unit, each offering stainless steel appliances, central HVAC, in-unit laundry, modern finishes, and balconies. All five units are currently leased at market rents, providing immediate cash flow and established rental income. All utilities are separately metered, and the property includes eight on-site parking spaces, helping minimize operating expenses and simplify management. Offered at $3,195,000, the property delivers a 5.40% cap rate, approximately $224,880 in annual gross potential rental income, and an attractive basis of $639,000 per unit. Ideally located near Larchmont Village, Melrose Avenue, Santa Monica Boulevard, and Hollywood Boulevard, the property benefits from proximity to Paramount Pictures, Sunset Gower Studios, Netflix, and some of L.A.'s most popular dining, shopping, and entertainment destinations. With luxury construction, strong existing rental income, separately metered utilities, and a prime Hollywood location, 1255 N Gower St presents an opportunity to acquire a modern multifamily investment with long-term rental appeal.
Details
| MLS # | BB26220362 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 2021 |
| Days On Site | 9 |
| Listing Provided By | Myunits.com Inc. | Cheyenne Womack |
Features
| SQ Feet | 6,091 |
|---|---|
| Story(s) | 3 |
| Units | 5 |
| Building(s) | 2 |
| Acreage | 0.15 |
| Property View | Yes |
Interior
| Cooling | Central Air |
|---|---|
| Heating | Central |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Interior Features | Balcony, Open Floorplan, Recessed Lighting |
| Appliances | Dishwasher, Freezer, Disposal, Gas Oven, Gas Range, Microwave, Refrigerator, Dryer, Washer |
Exterior
| Lot Features | Landscaped, Level, Street Level |
|---|---|
| Fencing | Good Condition |
Parking
| Garage Yes / No | No |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Curbs, Street Lights, Sidewalks |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90038 |
| Area | C20 Hollywood |
| Listing VS Median (in 90038) | |
Price: $3,195,000 low | high Med: $577,500 sqft: 6,091 low | high Med: 830 $ / sqft: $525 low | high Med: $696 On site: 9 low | high Med: 29 | |
Market Activity 90038
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90038 |
| Area | C20 Hollywood |
| Listing VS Median (in 90038) | |
Price: $3,195,000 low | high Med: $577,500 sqft: 6,091 low | high Med: 830 $ / sqft: $525 low | high Med: $696 On site: 9 low | high Med: 29 | |