Wow! We are pleased to present for sale a true value-add investment opportunity located in the heart of Hollywood. With ~58% of the building vacant, a new buyer has a fantastic opportunity to transform this residential hotel/apartment building into a Cash Cow! Known as the El Nido Hotel, the subject property consists of 38 studios with individual baths in each unit and is currently being rented on a monthly/weekly basis. 22 of the 38 units are currently vacant giving an investor the ability to renovate these units and re-rent at market rate. Monthly rent is estimated to be in excess of $42,000/month once vacancies are filled, yielding an incredible cap rate of 6.5%!! (monthly proforma of over $51,000/month in income once all units are turned over!) The El Nido boasts a Walk Score of 95 and is in close proximity to shopping, dining, entertainment, studios, transit, and so much more! Lots of new development in the area (Tesla's new supercharging station with restaurant and movie screens opening less than a mile away!). Do not miss this opportunity to purchase an asset with tons of upside in a phenomenal location with high rental demand. Bankruptcy court sale, subject to overbid. Contact listing agent for more details or to schedule a showing!
Property Details
Property Features
Property Information:
Year Built: 1928
Stories: 2
Living Area: 9,880 SqFt
Listing Office:
Office Name: Keller Williams Beverly Hills
Office Phone: (310) 432-6400
Listing Agent: Daniel Shamooelian
Interior Features
Bedroom and Bathroom Information:
Total Bedroom Count: 38
Exterior Features
Parking Information:
Parking: None
Lot Features
Lot Information:
Lot Size: 0.14 Acres
Utilities
Utilities Information:
Cooling: None
School Info
Assigned Schools Information:
Fairfax Senior High School, Public Magnet Grades 9-12
Math, Science, & Technology Magnet Academy at Roosevelt High School, Public Magnet Grades 9-12
Daniel Pearl Journalism & Communications Magnet, Public Magnet Grades 9-12
Hubert Howe Bancroft Middle School, Public Magnet Grades 6-8
Studio, Public District Grades 6-8
Vine Street Elementary School, Public District Grades KG-6
Melrose Avenue Elementary School, Public Magnet Grades KG-6
Academy For Enriched Sciences, Public Magnet Grades 1-5
Other
Directions Information:
Directions: South of Santa Monica Blvd, North of Melrose Ave, East of Highland Ave, West of Vine St
Price Information
Listing Price Info
Price Summary:
List Price: $5,300,000
Price Per SqFt: $536/SqFt
Tax Information:
Annual Amount: $10,261
Tax Year: 2021
What can I afford?
Understand what home price range makes sense for your budget.
Housing Market Comparison
See how this home compares to others in Los Angeles, CA.
This property is $4.3M more than the Median Sold Price and $96/SqFt less than other homes in Los Angeles, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #24375697
Listing Office:
Office Name: Keller Williams Beverly Hills
Office Phone: (310) 432-6400
Listing Agent: Daniel Shamooelian
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 5/2/2024, 9:20:19 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Oct 07, 1993
Oct 07, 1993Home Sold
$500,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$10,261
$785,104
2020
$9,970
$777,054
2019
$9,823
$761,818
2018
$9,627
$746,882
2017
$9,627
$732,238
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
5
/10
Vine Street Elementary School
955 Vine St
Distance between this listing and this school0.22 miles
Public District Grades KG-6
8
/10
Melrose Avenue Elementary School
731 N Detroit St
Distance between this listing and this school0.93 miles
Public Magnet Grades KG-6
9
/10
Academy For Enriched Sciences
6170 Lockhurst Dr
Distance between this listing and this school19.18 miles
Public Magnet Grades 1-5
Middle School
4
/10
Hubert Howe Bancroft Middle School
929 N Las Palmas Ave
Distance between this listing and this school0.39 miles
Public Magnet Grades 6-8
4
/10
Studio
2211 W Avenue 30
Distance between this listing and this school5.49 miles
Public District Grades 6-8
High School
4
/10
Fairfax Senior High School
7850 Melrose Ave
Distance between this listing and this school1.71 miles
Public Magnet Grades 9-12
8
/10
Math, Science, & Technology Magnet Academy at Roosevelt High School
456 S Mathews St
Distance between this listing and this school7.72 miles
Public Magnet Grades 9-12
8
/10
Daniel Pearl Journalism & Communications Magnet
6649 Balboa Blvd
Distance between this listing and this school12.02 miles
Public Magnet Grades 9-12
Assigned Schools
5
/10
Vine Street Elementary School
955 Vine St
Distance between this listing and this school0.22 miles
Public District Grades KG-6
8
/10
Melrose Avenue Elementary School
731 N Detroit St
Distance between this listing and this school0.93 miles
Public Magnet Grades KG-6
9
/10
Academy For Enriched Sciences
6170 Lockhurst Dr
Distance between this listing and this school19.18 miles
Public Magnet Grades 1-5
Assigned Schools
4
/10
Hubert Howe Bancroft Middle School
929 N Las Palmas Ave
Distance between this listing and this school0.39 miles
Public Magnet Grades 6-8
4
/10
Studio
2211 W Avenue 30
Distance between this listing and this school5.49 miles
Public District Grades 6-8
Nearby Schools
4
/10
Joseph Le Conte Middle School
1316 N Bronson Ave
Distance between this listing and this school0.87 miles
Public Magnet Grades 6-8
Assigned Schools
4
/10
Fairfax Senior High School
7850 Melrose Ave
Distance between this listing and this school1.71 miles
Public Magnet Grades 9-12
8
/10
Math, Science, & Technology Magnet Academy at Roosevelt High School
456 S Mathews St
Distance between this listing and this school7.72 miles
Public Magnet Grades 9-12
8
/10
Daniel Pearl Journalism & Communications Magnet
6649 Balboa Blvd
Distance between this listing and this school12.02 miles
The neighbors living near this home have an average income of $26,941. The majority of Los Angeles, CA residents have income less than $35k annually. The majority of families are single, no kids. Most residents in this area have high school diploma education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 1042 Wilcox Ave
What is the listing price of this property?
The listing price of 1042 Wilcox Ave property is $5,300,000.
What type of property is this?
The property 1042 Wilcox Ave is a house located in Los Angeles, California, 90038.
Is this property for sale now?
Active Listing: 1042 Wilcox Ave is For Sale (Active/New) which means the seller is accepting offers.
What are the assigned schools for this property?
The assigned schools for 1042 Wilcox Ave are: Vine Street Elementary School: GreatSchools Rating 5/10Melrose Avenue Elementary School: GreatSchools Rating 8/10Academy For Enriched Sciences: GreatSchools Rating 9/10Hubert Howe Bancroft Middle School: GreatSchools Rating 4/10Studio: GreatSchools Rating 4/10Fairfax Senior High School: GreatSchools Rating 4/10Math, Science, & Technology Magnet Academy at Roosevelt High School: GreatSchools Rating 8/10Daniel Pearl Journalism & Communications Magnet: GreatSchools Rating 8/10
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $10,261 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on October 7, 1993 for $500,000. (source: MLS/tax record).
How many bedrooms and bathrooms does this property have?
The property at 1042 Wilcox Ave has 38 bedrooms and 38 bathrooms.
What is the square footage of this property?
The property 1042 Wilcox Ave is 9,880 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 1042 Wilcox Ave is 1928.
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This home is located at 1042 Wilcox Ave in Los Angeles, CA and zip code 90038 in the Central LA neighborhood. This 9,880 square foot home, which was built in 1928, sits on a 0.14 acre lot. Features: 38 bedrooms, 38 bathrooms. It has been listed on Rocket Homes since April 09, 2024 and is currently priced at $5,300,000.
In April 2024 more than 701 listings in Los Angeles, CA were sold above the asking price. During the same period more than 204 listings were sold at asking price, while more than 629 were sold below. The inventory of homes for sale in Los Angeles, CA between March 2024 and April 2024 increased by 14.9%. In April 2024 median list price was $986,427 and the average listing age was 34 days.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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