5405 Fernwood AveLos Angeles, CA 90027

This exceptional 28-unit apartment building, located at 5405 Fernwood Ave, Los Angeles, CA 90027, presents a compelling investment opportunity. Boasting a substantial 24,088 square feet on a 0.8-acre lot, this property offers a strong 5.01% cap rate and a healthy NOI of $385,819. The asking price is $7,700,000, translating to $275,000 per unit. Built in 1939, the building features a mix of 16 one-bedroom, one-bathroom units and 12 two-bedroom, one-bathroom units. Convenient onsite parking is available for residents. The property benefits from its proximity to schools and hospitals, making it an attractive option for families. Furthermore, its location offers easy access to the upscale retail, dining, and entertainment venues of the Hollywood and Melrose areas. The property is zoned LAR4 and its APN is 5544-032-088. This well-situated multifamily property presents a rare chance to acquire a strong performer in a desirable Los Angeles neighborhood. The building's size, unit mix, and location combine to create a robust investment with significant potential for future growth. This is a turnkey opportunity for an astute investor seeking a high-yield asset in a prime Los Angeles market.