The Brody Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 1307 Tamarind Avenue (“The Property”), a 7-unit multifamily asset located in the Heart of Hollywood.
1307 Tamarind is ideally located just steps from the World-Famous Sunset Boulevard, walking distance to an array of shops and restaurants, as well as the world’s most iconic travel and sightseeing destinations.
Built in 1965, this 7-unit multi-family property is located in an Opportunity Zone, providing a developer the opportunity to maximize density on this 6,503 square foot R4 zoned lot.
An exciting re-positioning opportunity, 1307 Tamarind will be delivered with 3 of 7 units are vacant.
1307 Tamarind offers a savvy investor two paths to income generation:
-Renovate and re-rent units and growth rent by leveraging access to Sunset Boulevard, offering a lower-cost alternative to surrounding new construction
-Re-develop this R4 lot located in Opportunity Zone to see maximum potential of up to 16 apartments
Boasting an 84 walk score, 1307 Tamarind will outperform the overall rental market as Real Capital Analytics’ research confirms that apartment buildings with walkable amenities post the highest rent growth averages year over year.
- Exceptional Value-Add and/or Redevelopment Opportunity in Prime Hollywood Location
- New Roof in 2015
- 3 Units Delivered Vacant at Close
- 84 Walk Score
- Walking Distance to Hollywood & Vine Metro Stop
- Surrounded by Luxury New Condo and Multi-Family Development