Opportunity knocks in the heart of Los Angeles - California with the Flemish Lane Apartments, two residential income buildings, fully-occupied, comprised of two contiguous parcels within the Hollywood Redevelopment Project Zone. This offering represents a current Cap Rate of +5.56%, with an increased Cap Rate of 6.3% when the February 2024 LA City RSO rent increases take effect. 5425 and 5441 boasts 16 residential units with a mix of 1Bed-1Bath and 2Bed-1Bath units. The building is fully rented and there is upside potential to realize. All Tenants are current on rents. This is a unique opportunity for a major TOC Development and/or DensityBonus Project considering an adjacent lot, has recently received approval for a 65-unit apartment complex. 5421 Flemish Lane is also available for purchase. 5421 Flemish Lane is a mixed use property with one residential unit and one commercial unit.