6720 Franklin Pl, Los Angeles, Los Angeles County, CA, 90028 Los Angeles CA US

6720 Franklin is a vintage 1920's character brick building located in the rapidly developing center of Hollywood, located 2 blocks north of Hollywood Blvd. and Highland Ave. The property's strategic location offers compelling fundamentals, abundant entertainment and dining amenities and convenient access to employment and educational centers. Additionally, residents benefit from proximity to public transit including multiple bus lines and a Metro subway station (Hollywood/Highland) just 2 blocks away. Featuring 37 units, this vintage charmer features (1) 2-bdrm. and 2-bath units, (14) 1-bdrm. units and (22) single units. There is a 1-bdrm. unit that will be delivered VACANT upon COE, and a bonus unit on the ground floor that serves as an office space. Please note, the building is master-metered for gas and electricity, allowing for a 5% rent increase annually (when there is no rent freeze). This value-add opportunity currently generates $57,300+ in gross monthly income with h opportunity for 28% upside in rents, based on renovated units in the area. 6720 Franklin represents an opportunity to acquire a beautiful "Old World" property in an excellent location, while still providing substantial value-add potential through continued renovations and rent increases. Find out more about this property. Request details here