A nine-unit value-add investment opportunity in the highly sought-after submarket of West Hollywood located just west of Fairfax Ave between Santa Monica Blvd and Melrose Ave. This ideal location is walking distance to many desirable destinations such as Whole Foods, Laurel Hardware, Ysabel, Employees, plus many others.The building features a desirable unit mix of seven spacious one-bedrooms (+\-700-850 SF) and two two-bedrooms (+\- 1,000 SF) with 10 parking spaces. Most of the units are leased at below market rents, providing an investor the opportunity to capture the 43% rental upside through further interior renovations as units turn (currently 2 units are vacant). The building has been well-maintained throughout the years with a new roof installed in 2021, copper plumbing throughout and a completely upgraded fire sprinkler system. Additionally, the property has a community laundry room with one washer and one dryer, is separately metered for gas and electricity and has a storage room at the rear of the property that could potentially be converted to an ADU (Buyer to verify).West Hollywood is one of the most coveted submarkets in Los Angeles and a top travel destination attracting those in entertainment, fashion, and entrepreneurship. The subject property has an incredibly high walk score of 95 with prominent dining and nightlife options to choose from. Tours by appointment only. Please do not visit the property or disturb current tenants. Thank you.
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DAYS ON MARKET
|
118
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LAST UPDATED
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1/18/2022
|
|
YEAR BUILT
|
1963
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COMMUNITY
|
West Hollywood Vicinity
|
|
COUNTY
|
Los Angeles
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STATUS
|
Sold
|
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PROPERTY TYPE(S)
|
Residential Income
|
|
|
| AIR |
Wall/Window Unit(s) |
| AIR CONDITIONING |
Yes |
| APPLIANCES |
Gas Cooktop, Gas Range, Refrigerator |
| AREA |
West Hollywood Vicinity |
| HEAT |
Natural Gas |
| HOA DUES |
0 |
| INTERIOR |
Ceiling Fan(s) |
| LOT |
6254 sq ft |
| POOL DESCRIPTION |
None |
| STORIES |
2 |
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Listed with Marcus & Millichap
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 4/20/24 12:44 AM PDT 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. Properties may or may not be listed by the office/agent presenting the information
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