We are pleased to present 423 N Harvard, a 16-unit building situated near Western and Beverly Blvd, bordering Hollywood and Koreatown. Owner has schematic drawings for the construction of four 1 bedroom/ 1 bath ADU's which may enhance the rental income to $441, 204 and the cap rate to 5.5%. The total expenditure of approximately $300, 000 to build four ADU's may generate additional rent of $9, 450.00 a month. Per owner, it may take approximately 36 months to recoup the costs of the ADU construction. See pages 23-27 for ADU estimate and drawings. Current building was built in 1965, the building consists of three 2 bedroom/2 bath units, three 2 bedroom/1 bath units, and ten 1 bedroom/1 bath units. 10 of the 16 units have been expertly renovated in the last six years with various upgrades such as new appliances, quartz kitchen and bathroom countertops, porcelain tiles, and new windows. Each unit is separately metered for gas and electric and each unit has individual or tandem carport parking. The building also underwent a seismic retrofit in 2021. The subject is centrally located to endless dining, entertainment, hotels, and a short distance from the World Famous Hollywood Walk of Fame, Paramount Studios, Netflix, Larchmont, and Hollywood Bowl. The ease of access to Hollywood, Downtown LA, and other hubs of Los Angeles is incomparable!
Est St, 4830 W Kennedy Blvd #600