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 (Walk Score is 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.
Based on information from California Regional Multiple Listing Service, Inc. as of April 13th, 2021 at 12:12pm PDT. 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.