1255 N Gower St, Los Angeles, CA 90038

Property Description

1255 N Gower St is an exceptional opportunity to acquire a luxury new-construction 5-unit multifamily property in the heart of Hollywood. Featuring modern architecture, elevated designer finishes, custom built-ins, oversized windows, and thoughtfully designed interiors, this turnkey asset offers investors a high-quality, low-maintenance investment in one of Los Angeles' most desirable rental markets. Spanning approximately 6,091 square feet across two buildings, the property features four spacious 3-bedroom residences and one 2-bedroom unit, each offering stainless steel appliances, central HVAC, in-unit laundry, modern finishes, and balconies. All five units are currently leased at market rents, providing immediate cash flow and established rental income. All utilities are separately metered, and the property includes eight on-site parking spaces, helping minimize operating expenses and simplify management. Offered at $3,195,000, the property delivers a 5.40% cap rate, approximately $224,880 in annual gross potential rental income, and an attractive basis of $639,000 per unit. Ideally located near Larchmont Village, Melrose Avenue, Santa Monica Boulevard, and Hollywood Boulevard, the property benefits from proximity to Paramount Pictures, Sunset Gower Studios, Netflix, and some of L.A.'s most popular dining, shopping, and entertainment destinations. With luxury construction, strong existing rental income, separately metered utilities, and a prime Hollywood location, 1255 N Gower St presents an opportunity to acquire a modern multifamily investment with long-term rental appeal.