Los Angeles, CA90004
| 8226 sqft | MLS# 25529771
Tract:
For Sale $2,300,000
Description
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS. We are pleased to offer for sale a 12-unit apartment community located at 535 North Heliotrope Drive. The subject property is located north of Beverly Boulevard and east of Normandie Avenue. The property is in the thriving neighborhood of East Hollywood just south of the 101 Freeway. Located on Heliotrope Drive, just minutes from Virgil Village and Silver Lake, 535 North Heliotrope provides tenants with easy access to some of the most popular bars, eateries and shopping in Los Angeles. Situated on a 7,999 square foot parcel, the property is comprised entirely of one-bedroom units. There is 45% remaining rental upside through interior renovations. The property is in an Opportunity Zone which is drawing significant new capital in the immediate neighborhood, putting upward pressure on rental rates and property values. 535 North Heliotrope Drive offers investors an opportunity to acquire an asset in a sought-after in-fill submarket of Los Angeles. The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate in order to achieve superior market rents moving forward, makes 535 North Heliotrope an excellent acquisition opportunity.
Facts
| Built in 1962 | Lot Size: 7999.00 sqft | HOA Dues: $0/month
Features
Listing provided by Sean Rosenzweig, Marcus & Millichap
Based on information from California Regional Multiple Listing Service, Inc. as of July 11, 2025. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.