635 N Harvard — Sale in Los Angeles, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Los Angeles, CA 90004

Photos

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Investment Figures

Cap rate
5.41%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present 635 N Harvard Blvd, a newer-construction, seven-unit multifamily investment located in East Hollywood. The property consists of three three-story duplexes completed in 2020 and a studio accessory dwelling unit completed in 2022. The unit mix features four spacious three-bedroom townhome-style residences, two two-bedroom units, and one studio, totaling 6,398 square feet of living area on a 7,507-square-foot R3-1 lot. The offering combines strong in-place income with approximately 9% rental upside, providing investors with immediate cash flow and additional growth potential without a significant renovation program. Current scheduled rent of $250,176 increases to approximately $271,800 at projected market rents. Recent three-bedroom leasing activity further supports the property's income profile, with Unit 635 leased at $3,806 per month and Unit 637 ½ at $3,707 per month. Designed with modern rental demand in mind, four of the seven residences are large three-bedroom floorplans ranging from approximately 1,104 to 1,209 square feet. Every residence features in-unit laundry, while each of the six duplex residences is separately metered for water, gas, and electricity, allowing tenants to pay their utilities directly and helping reduce operating expenses for ownership. Carport parking is provided beneath the center and rear buildings. The property is well positioned for 1031 exchange buyers and private investors seeking newer construction in a supply-constrained infill market. Newer multifamily product is particularly limited in ZIP Code 90004, where approximately 60% of the housing stock was built before 1970. Located near Melrose Avenue and Western Avenue, 635 N Harvard Blvd sits between Hollywood and Koreatown with convenient access to major employment, entertainment, education, and healthcare destinations. The property carries a Walk Score of 91, a “Walker’s Paradise,” and is approximately 0.8 miles from Los Angeles City Colleg

Market Context

This multifamily in Los Angeles, CA is listed for sale. It is offered at an approximate 5.4% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Los Angeles, CA — view the full market.

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