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    800 Hobart Blvd Los Angeles, CA 90029

    Sponsored
    For Sale
    $1,100,000

    Prime location, value-add opportunity. Two units, high rental upside.

    Property size:
    7,281 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    396
    This exceptional investment opportunity presents a two-unit duplex situated on a sizable 7,281 square foot lot in the desirable Melrose Hill neighborhood of Los Angeles, CA. The property, zoned RD1.5-1XL, offers significant redevelopment potential, particularly given its Transit Oriented Communities (TOC) Tier 2 designation allowing for increased residential density. Currently featuring a three-bedroom, two-bathroom unit and a one-bedroom, one-bathroom unit, the property boasts a total of 2,142 square feet of living space. The asking price is $1,100,000, translating to $550,000 per unit. A newly updated interior enhances the appeal, complemented by a 2.94 kW roof-mounted photovoltaic solar system on both units, resulting in reduced electricity bills. Sub-metering is in place. The property enjoys a Walk Score of 90, reflecting its convenient location near major transit stops, highways (US-101 & SR-2), and shopping centers. Its proximity to Hollywood (two miles west) and Downtown Los Angeles (five miles east) further enhances its desirability. The main house will be delivered vacant

    Property Features for 800 Hobart Blvd

    General Information

    Property type
    Multifamily properties
    Square Feet
    7,281 SF
    Class
    C

    Building Details

    Buildings
    2
    Stories
    1
    Units
    2

    HighLights

    • Duplex on a 7,281 sq ft lot in desirable Melrose Hill, Los Angeles.
    • Value‑add opportunity with 13% rental upside potential.
    • Significant redevelopment potential; TOC Tier 2 designation (RD1.5‑1XL zoning).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.30520570994
    Latitude
    34.084645005167

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    FAQs

    What type of property is this?
    Multifamily property - Prime location, value-add opportunity. Two units, high rental upside.
    Where is this multifamily property located?
    The property is located at 800 Hobart Blvd Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: Duplex on a 7,281 sq ft lot in desirable Melrose Hill, Los Angeles.; Value-add opportunity with 13% rental upside potential.; Significant redevelopment potential; TOC Tier 2 designation (RD1.5-1XL zoning).
    Request Owner's contact information
    800 Hobart Blvd Los Angeles, CA 90029
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    Los Angeles, CA 90029
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    800 Hobart Blvd Los Angeles, CA 90029
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