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6720 Franklin is a vintage 1920's character brick building located in the rapidly developing center of Hollywood, located 2 blocks north of Hollywood Blvd. and Highland Ave. The property's strategic location offers compelling fundamentals, abundant entertainment and dining amenities and convenient access to employment and educational centers. Additionally, residents benefit from proximity to public transit including multiple bus lines and a Metro subway station (Hollywood/Highland) just 2 blocks away. Featuring 37 units, this vintage charmer features (1) 2-bdrm. and 2-bath units, (14) 1-bdrm. units and (22) single units. There is a 1-bdrm. unit that will be delivered VACANT upon COE, and a bonus unit on the ground floor that serves as an office space. Please note, the building is master-metered for gas and electricity, allowing for a 5% rent increase annually (when there is no rent freeze). This value-add opportunity currently generates $57,300+ in gross monthly income with h opportunity for 28% upside in rents, based on renovated units in the area. 6720 Franklin represents an opportunity to acquire a beautiful "Old World" property in an excellent location, while still providing substantial value-add potential through continued renovations and rent increases. MLS® ID: 22207257 Listed: 10/9/22 Updated: 10/17/22 Interior Features Total Bedrooms: 17 Total Bathrooms: 39 Interior Features: Ceiling Fan(s) Laundry Description: Common Area, Laundry Room Floor Description: Tile, Wood Cooling: Wall/Window Unit(s) Heating: Floor Furnace Exterior/Building Features Lot Size: 8,004 ft2 lot Other Property Details Area Name: C20 - Hollywood HOA Amenities: Gated Garage: No Parking: None View: N County: Los Angeles Pool: No Total Stories: 5 Zoning: LAR4 Courtesy of Compass, Kenny Stevens, Listing Contact: Based on information from California Regional Multiple Listing Service, Inc. as of 10/17/22. This information 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. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.