An extremely rare opportunity to acquire a well-located, high-quality apartment community with multiple scenarios to add future value.5-unit multifamily property located in the always in-demand West Hollywood. Built in 1963, the property features one 1-bedroom unit, three 2-bedroom units, and one 3-bedroom unit. All units are occupied, with average in-place rents that are significantly below market allowing for substantial future upside. In addition to the rental and renovation upside scenarios, the Property also offers the potential to upgrade and convert the existing rental units to for-sale condominium units. The Property is ideally located just one block from the Melrose Avenue Shopping District, one of Los Angeles’ most famous shopping, dining, and entertainment destinations. With over 180 stores, restaurants, and entertainment options situated along the stretch of Melrose Avenue between La Brea Avenue and La Cienega Boulevard.As a testament to the amenity-laden location, the property features a coveted “Walker’s Paradise” designation with a walk score of 92 out of 100 and is directly served by several rapid bus lines and is immediately adjacent to numerous surface arterials, for convenient, centralized access to Hollywood and the greater Los Angeles Westside markets.
DAYS ON MARKET
|
121
|
LAST UPDATED
|
7/31/2021
|
YEAR BUILT
|
1963
|
COMMUNITY
|
West Hollywood Vicinity
|
GARAGE SPACES
|
10.0
|
COUNTY
|
Los Angeles
|
STATUS
|
Sold
|
PROPERTY TYPE(S)
|
Residential Income
|
AIR |
Wall/Window Unit(s) |
AIR CONDITIONING |
Yes |
AREA |
West Hollywood Vicinity |
GARAGE |
Attached Carport, Yes |
HEAT |
Central |
LOT |
5663 sq ft |
LOT DESCRIPTION |
0-1 Unit/Acre, Near Public Transit, Street Level, Walkstreet |
PARKING |
Attached Carport |
POOL DESCRIPTION |
None |
SEWER |
Public Sewer |
STORIES |
2 |
UTILITIES |
Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected, Electric - Electricity - On Property |
VIEW |
Yes |
VIEW DESCRIPTION |
City Lights |
WATER |
Public |
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Listed with The Agency
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 4/24/24 3:12 PM 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
This IDX solution is (c) Diverse Solutions 2024.
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