5111 Harold Way is 11,490 square foot property situated on a 8,973 square foot LARD1.5 zoned lot. The property is made up of seventeen (17) units, with a great unit mix of four (4) studio units, ten (10) one bedroom & one bathroom units, and three (3) two bedroom & two bathroom units. Each unit is separately metered for gas & electricity. There are fifteen (15) parking spaces rented separately, copper plumbing throughout, one (1) hot water heater, and the seismic retrofit work has been completed. Moreover, there is storage space and a common laundry room with card operated machines, allowing for additional streams of income. Four (4) units will be delivered vacant at the close of escrow. The property is located near the very desirable Los Feliz neighborhood, between Sunset Blvd. & HollywoodBlvd, with very easy access to the 101 Freeway. This location is deemed a "Walker's Paradise" with a score of 92 out of 100, as most daily errands can be accomplished by foot. Within close proximity, you have the Greek Theater & Griffith Park. Minutes away you have employers like Kaiser Permanente Hospital, Hollywood Presbyterian Hospital, the Childrens Hospital of Los Angeles, Netflix, KTLA, LACC, and the Hollywood Studios. Tenants and owners alike are attracted to the area because of all the local bars, restaurants, and shopping in the immediate vicinity, all while having easy access to major employment hubs such as DTLA, Koreatown, and Hollywood. Some of the most popular nearby spots include Lolo Wine Bar & Restaurant, Jitalda Restaurant, Tabula Rasa Bar, Cara Hotel, and Barnsdall Arts Park. 5111 Harold Way is an excellent opportunity for an investor to acquire a day-one cash-flowing property in prime location. All tenants are paying their rents and four units will be delivered vacant at close of escrow! The subject property is located in the City of Los Angeles and is subject to rent control.
