7
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$5,500,000
Est. payment /mo
8,860 Sqft Lot
Price Dropped by $200K
1223 N Edgemont ST Los Angeles, CA 90029
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26684751
HOA Y/N No
Year Built 2019
Lot Size 8,860 Sqft
Lot Dimensions Assessor
Property Description
1223 N. Edgemont Street is now offered following a $200K price reduction and presents a newly constructed, 14-unit multifamily community located steps from the Fountain Avenue Corridor in East Hollywood, one of Los Angeles' most supply-constrained and high-demand rental submarkets. Built in 2019, the Property features two-story loft-style units with high-end finishes and is not subject to rent control (AB 1482 exempt), providing investors with long-term operational flexibility and unrestricted rent growth potential. The Property is currently 100% occupied and has achieved 92% year-over-year tenant retention, demonstrating strong resident demand and stability. In-place rents remain below market, creating a clear and executable mark-to-market opportunity through renewal and leasing strategy, without the need for renovations or repositioning. With no immediate capital expenditure required, the Property offers investors a rare opportunity to acquire a stabilized, newer construction asset with embedded upside and minimal operational risk. Available at a basis below replacement cost, the investment provides both downside protection and the ability to capture future rent growth in a tightening supply environment. Situated within a highly walkable pocket of East Hollywood, residents benefit from immediate access to the Fountain Avenue retail corridor, including Found Oyster and Saffy's, along with proximity to major employment anchors such as Kaiser Permanente, Children's Hospital Los Angeles, and Hollywood Presbyterian Medical Center.1223 N. Edgemont Street offers a compelling opportunity to acquire a high-quality, fully stabilized asset with immediate upside and a clear path to revenue growth in one of Los Angeles' most dynamic rental corridors. **Please fill out the Confidentiality Agreement and email the listing agent the executed document to gain access to the OM.** All property information, including square footage, unit sizes, and year built, should be independently verified by the buyer.
Location
State CA
County Los Angeles
Area C20 - Hollywood
Zoning R3-1XL
Interior
Heating Central, Forced Air
Fireplace No
Exterior
Roof Type Flat
Total Parking Spaces 13
Others
Tax ID 5540011015
Special Listing Condition Standard
Listed by Paul Darrow Paul Darrow #01700955
NEARBY SCHOOL & BUSINESS
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