First time on the market in over 40 years, 1301 N. Mansfield presents a timeless mid-century apartment complex with thoughtful modern upgrades, located in a prime Hollywood location (corner of Fountain and Mansfield). Located just west of Highland Ave, 1301 N. Mansfield offers investors an opportunity to acquire a well-maintained 19-unit complex situated between the local hotspots and employment epicenters of West Hollywood (0.5 miles from Santa Monica & La Brea) and the greater Hollywood Media District (0.6 mile from Hollywood & Highland). Offered at $223K per unit, the financials are just as appealing as the location. Current rents yield a 5.45% CAP, and with approx. 26% rental upside, investors can achieve a 7.73% CAP and 8.75 GRM once stabilized. The unit mix includes (6) 2-bed/1.5-bath, (11) 1-bed/1-bath, and (2) studios. Please note, 2 units will be delivered vacant. Interiors feature oversized windows, private balconies, and an open-style floor plan. Units average approx. 800 SF, offering ample space, charm, and natural light. Major capital improvements include, electric appliances, a new roof, copper repipe, soft-story retrofit, and SB-721 compliant balconies (buyer to verify). Capital improvements include electric appliances, copper repipe, soft-story retrofit, and SB-721-compliant balconies (buyer to verify). 1301 N. Mansfield combines strong in-place fundamentals, significant upside, and unbeatable proximity to LA's top-tier cultural, entertainment, and employment hubs.
