$2,300,000
$300K PRICE DROP

Estimated payment $14,808/month

Total Views 1,329
12 Beds
12 Baths
8,226 Sq Ft
$280 Price per Sq Ft

About This Home

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.

Listing Agent

Sean Rosenzweig

Marcus & Millichap License #01406343 Listed on: 04/14/2025

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1962

Lot Details

  • 7,999 Sq Ft Lot

Interior Spaces

  • 8,226 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 12 Bathrooms

Parking

  • 12 Parking Spaces
  • Covered Parking

Community Details

  • 12 Units

Listing and Financial Details

  • Assessor Parcel Number 5520-008-008

Property Details

Home Type

Multi-Family

Year Built

Built in 1962

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • Living Area: 8226
  • Lot Acreage: 0.1837
  • Stories: 2
  • Year Built: 1962
  • Number Of Photos: 7
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 12
  • Total Bathrooms: 12.00
  • Price Per S Q F T: 279.60

Exterior Features

  • Other Structures: None

Garage/Parking

  • Parking Garage: Covered Parking
  • Total Parking: 12

Lot Info

  • Assessed Improvement Percent: 35.02
  • Assessed Improvement Value: 624944
  • Assessed Land Percent: 64.98
  • Assessed Land Value: 1159759
  • Total Assessed Value: 1784703
  • Assessor Parcel Number: 5520-008-008
  • Lot Size Area: 7999

Multi Family

  • Unit Type: 2106
  • Gross Rent Multiplier: 11.02
  • Number Of Units: 12
  • Total Annual Expense: 95308
  • Type Of Units: Residential
  • Vacancy Rate: 0

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/11/2025 07/11/25 Price Changed $2,300,000 -11.5% $280 / Sq Ft
04/14/2025 04/14/25 For Sale $2,600,000 +75.1% $316 / Sq Ft
12/05/2013 12/05/13 Sold $1,485,000 -4.2% $181 / Sq Ft
11/04/2013 11/04/13 Pending -- -- --
09/17/2013 09/17/13 For Sale $1,550,000 -- $188 / Sq Ft
Source: The MLS

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Source: The MLS

MLS Number: 25529771

The MLS