EME Mansfield is a 30-unit stabilized investment opportunity located at 1420 Mansfield Avenue in the Hollywood neighborhood of Los Angeles, California. Hollywood is a prime rental submarket of Los Angeles, known for excellent rent growth and high occupancy rates. The asset features a good unit mix of 13 one-bedroom/one-bathroom, 14 two-bedroom/ one-bathroom, and three two-bedroom/two-bathroom apartments. Ownership has completed extensive interior and exterior renovations that included the complete renovation of 25 units and a roof that was replaced in 2017 as well as new vertical plumbing. The stabilized asset is currently achieving strong cash-on-cash yields and is being offered with attractive in-place debt. Investors will have the option to assume in-place financing (3.91 percent with 60 percent loan-to-value fixed until 2023).
The property is well located in a residential pocket in Hollywood, one block south of Sunset Boulevard and one block west of Highland Avenue. EME Mansfield ranks as a walker’s paradise, with an impressive Walk Score of 94 because of its location in the heart of Hollywood and close proximity to major entertainment, shopping, and dining destinations. The apartment complex is within a 15- to 30-minute drive to employment centers in West Hollywood, Beverly Hills, Miracle Mile, and Downtown Los Angeles. Furthermore, EME Mansfield is just a 10-minute walk from the Hollywood/Highland Station along the Metro Red Line, which connects Hollywood to the San Fernando Valley and Downtown Los Angeles
