• 6,879 sq.ft.
  • 6,499 sq.ft. lot
offered at $3,500,000
Status: Active // Property Type:
County: Los Angeles // Year Built: 1967

Property Description

This the first time in over 45 years that the property has been marketed for sale, making this a rare opportunity for a new investor. Consisting entirely of large two-bedroom, two-bathroom units, the property features floorplans averaging approximately 1,100 square feet each. Current tenants are paying an average of approximately $2.28 per square foot, which is well below the $3.88 per square foot rent that similar properties are achieving in this exclusive neighborhood. In addition to capitalizing on this rent upside, a new investor can also enjoy additional revenue streams generated by the on-site laundry room and the covered parking spaces.Located near the intersection of Santa Monica Boulevard and La Cienega Boulevard, the property is only three blocks from the world famous Sunset Strip. Tenants at this property enjoy all of the amenities and benefits of West Hollywood, while the landlord is not restricted by West Hollywood rent control. In addition to the Sunset Strip, the property is also within blocks of Trader Joes, Sprouts, Nobu, and Barneys Beanery. Several major high-end shopping destinations are within a short drive, including The Beverly Center, The Grove, The Original Farmers Market, Robertson Boulevard, and Rodeo Drive.

Listing Courtesy of Roderick 'Rick' Raymundo, Marcus & Millichap

  • raj qsar
    CEO | Owner |
    CalBRE# 01744847
    • cell 714.412.5019
    • office 949.612.2535
    email Raj

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