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Fatima Malik

fatima.malik@evrealestate.com +1(310) 968-2085

$ 18,195,000

Est. payment -/mo

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New

6615 Franklin Ave Los Angeles, CA 90028

86 Beds

87 Baths

65,746 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 65,746 sqft

Price per Sqft $276

MLS Listing ID 26862229

Bedrooms 86

Year Built 1962

Lot Size 0.866 Acres

Acres 0.8662

Property Sub-Type Multi-Family

Property Description

With current ownership implementing over $4 million in property improvements over the past five years, this offering allows a new investor to secure a heavily-remodeled asset while also enjoying substantial immediate cash flow. Available at an attractive 6.88% CAP Rate and 9.25 GRM based on in-place income, the property provides an already strong initial return while allowing for future revenue improvement by applying the same interior renovation blueprint to the remaining apartments in order to recapture the rent upside. Included in the property's expansive reimagining are more than $2 million in apartment interior upgrades, a revamped courtyard with a bocce ball court, a revitalized swimming pool with a BBQ area and outdoor bathroom, a new exterior facade, a renovated elevator, new electrical subpanels, plumbing upgrades, and a newly remodeled lobby. The current owner has also installed a RUBS program, allowing a landlord to collect utility reimbursements from tenants as another valuable source of revenue. The buildings feature several electric car charging stations and tankless water heaters, helping to modernize the asset and attract higher-paying residents. The adjacent Whitley Heights and Hollywood Heights feature single-family homes that have sold from $2,500,000 to over $4,000,000 in the past year, conveying the prestige and desirability of the local neighborhood. Because most residents are priced out of this single-family home market, the local rental market experiences a more robust demand, benefitting area apartment owners. Situated just three blocks from the intersection of Hollywood Boulevard and Highland Avenue, the property offers residents convenient access to all of the most famous destinations throughout Hollywood. The Hollywood Bowl is only a half-mile away, while the Ford Theatre, Runyon Canyon, and Griffith Park are all within walking distance as well. Many nearby streets are benefitting from the $8 million "Access to Hollywood" project, which is anticipated to revitalize some of the most popular and heavily-trafficked local corridors.

Location

State CA

County Los Angeles

Area Sunset Strip - Hollywood Hills West

Zoning LAR4

Rooms

Other Rooms Other

Interior

Heating Other

Cooling Other

Equipment Other

Exterior

Parking Features Assigned, Garage Is Attached, Other

Garage Spaces 74.0

Building

Story 4

Level or Stories Multi/Split

Others

Special Listing Condition Standard

The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Marcus & Millichap

NEARBY SCHOOLS & PROPERTIES

Fatima Malik

Broker Associate | License ID: 01950831

+1(310) 968-2085

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