$3,999,999
6708 Willoughby Avenue, Los Angeles 90038
7
Beds
6
Baths
8,784
Square feet
7,252
Lot Size
9
# Of Units
Listing Agent
Dana Brody - Dana Brody5.4% In-Place Cap Rate ! 9 Units Steps to Prime Hancock Park! Amazing Income Property Offering - Beautifully Renovated 9 unit - 5.4% In-Place Cap close to Prime Hancock Park! Walk to Pizzeria Mozza, Sushi Palace and Tesla's new diner & drive-in theatre on Santa Monica Boulevard. We are very pleased to exclusively offer for sale The Siegel, a beautifully curated collection of 9 apartment units perfectly located in the Heart of Hollywood's Media District. Steps from idyllic Larchmont Village and storied Hancock Park, as well as shops and restaurants on Highland and Melrose Avenue, 6708 Willoughby Avenue is a beautifully remodeled nine unit apartment community offering an investor an extremely strong income producing asset in one of the desirable rental markets across Los Angeles. Property features updated plumbing and electrical, new windows, freshly painted, new electrical panels, washer/dryer hookups in all units. The main panel has been upgraded to 400 amps with completely new wiring, including 10 new meters (9 units plus 1 house) have been installed. Units feature high-end finishes including new appliances, high end countertops, recessed lighting, and so much more. Offered at a 5.4% cap rate and a 13 GRM, 6708 Willoughby is an excellent income producing 9 unit apartment building in an extremely hot rental market surrounded by high end homes and primed to continue to appreciate and grow in rental income over time. The Siegel offers a 6.4% cap rate at market rents for all units, with additional rent growth in the future! Don't miss this stable income producing asset that holds significant income upside as rents grow.
Facts & Features
MLS® # | 23339499 |
---|---|
Price | $3,999,999 |
Bedrooms | 7 |
Bathrooms | 6.00 |
Square Footage | 8,784 |
Lot Size | 7,252 |
Year Built | 1924 |
Type | Residential Income |
Status | Active |
# Of Units | 9 |
Community Information
Address | 6708 Willoughby Avenue |
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Area | C20 - Hollywood |
City | Los Angeles |
County | Los Angeles |
Zip Code | 90038 |
Amenities
Parking Spaces | 2 |
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Parking | Gated |
Garages | Gated |
View | City Lights, Hills |
Is Waterfront | No |
Has Pool | No |
Pool | None |
Interior
Interior | Wood |
---|---|
Appliances | Dishwasher, Disposal, Refrigerator, Microwave |
Heating | Combination |
Has Basement | No |
Fireplace | No |
# of Stories | 2 |
Stories | Two |
Additional Information
Date Listed | December 13th, 2023 |
---|---|
Days on Market | 144 |
Zoning | LARD1.5 |
Foreclosure | No |
Short Sale | No |
RE / Bank Owned | No |
Listing Details
Agent | Dana Brody |
---|---|
Office | Dana Brody |