***$300,000 Price Reduction*** Tucked between East Hollywood and the heart of Los Feliz, 1640 N. Harvard offers an opportunity to reposition a character-rich, courtyard-style property near several of Northeast LA's hottest lifestyle and employment hubs. Tenants will appreciate walkable access to Los Feliz icons like Hillhurst Avenue's Maru Coffee, Found… Read More Oyster, and Alcove Caf, the trailheads of Griffith Park, and the cultural energy of Vermont Avenue, Barnsdall Art Park, and the Greek Theatre. The property is also under 2 miles from Sunset Junction in Silver Lake; and just minutes from the Hollywood Media District, a significant employment hub for entertainment, post-production, and creative tech. Set on a 14,140 SF lot, the property features a classic garden-style layout with mature landscaping, gated entry, community laundry, and ample covered carport parking. Offered at $266,667 per unit and $362 per foot, the property represents a rare combination of affordability and long-term upside. Current rents are significantly below market, with a projected 61% rental upside through interior renovations and system upgrades. Stabilized metrics pencil at a 7.02% CAP and 10.51 GRM.Additional opportunity exists in the site's underutilized lot size, which may support ADU development (buyer to verify). Investors with a long-term lens will see the location, lot size, and configuration as an ideal canvas for repositioning in a neighborhood where lifestyle is the greatest amenity. Read Less
Listing Snapshot
Days Online
44
Last Updated
Property Type
Other
Beds
17
Square Ft.
11,054
Lot Size
0.32 Acres
Year Built
1952
MLS Number
25570135
30 Days Snapshot Of 90027
$1.81M
-25%
(avg) sold price
19
+11%
homes sold
73
-6%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1952, Building area total: 11,054, Levels: Two, Living area: 11054, 2 stories, 1 building, Architectural style: , Attached, Common walls: OneCommonWall
Community
Gated
Income
Gross income: $235,512, Net operating income: $139,953
Laundry
CommonArea
Lot
0.3247 acres, 14,145 square feet, Size: 14,145
Parking
8 open parking spaces, 16 totals parking, DetachedCarport, Uncovered
Property
Zoning: LARD1.5, None
Security Features
GatedCommunity
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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