Description
Situated in the heart of West Hollywood, 1253 N Laurel Ave, "The Laurel Apartments" is a charming 14-unit multifamily, encompassing 15,592 sqft on a 14,796 sqft lot. The Laurel Apartments is Available for the first time in 70 years and includes a highly desirable unit mix in coveted West Hollywood. Unit Mix is comprised of: (1) 3 Bed + 2 Bath Unit // (2) 2 Bed + 1.5 Bath Townhome-Style Units (One Unit Delivered Vacant) // (4) 1 Bed + 1 Bath Units // (7) 2 Bed + 2 Bath Units. West Hollywood continues to see consistent rental growth, driven by an unyielding demand from new residents eager to be part of the West Hollywood experience. With rents currently below market value and a desirable unit mix, there's significant potential to boost the rental rate and stabilize at an impressive +/- 9.2% Cap Rate. The Laurel Apartments primed for various investment strategies by scaling operations and optimizing expenses. Whether you're an Owner/User or an Investor, 1253 N Laurel Ave promises to be a valuable addition to your portfolio. Featuring a remarkable WalkScore of 92, The Laurel Apartments offers its residents the luxury of a pedestrian-friendly lifestyle. The iconic Sunset Strip and Santa Monica Blvd. are a few moments away, allowing easy access to trendy dining, eclectic shopping, and diverse employment opportunities. The property's coveted location ensures residents benefit from extensive public transportation and parking access, making commutes to Beverly Hills, Century City, and Hollywood a breeze.
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24BEDS
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0.34ACRES
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0BATHS
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01/2 BATHS
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15,592SQFT
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$321$/SQFT
School Ratings & Info
Description
Situated in the heart of West Hollywood, 1253 N Laurel Ave, "The Laurel Apartments" is a charming 14-unit multifamily, encompassing 15,592 sqft on a 14,796 sqft lot. The Laurel Apartments is Available for the first time in 70 years and includes a highly desirable unit mix in coveted West Hollywood. Unit Mix is comprised of: (1) 3 Bed + 2 Bath Unit // (2) 2 Bed + 1.5 Bath Townhome-Style Units (One Unit Delivered Vacant) // (4) 1 Bed + 1 Bath Units // (7) 2 Bed + 2 Bath Units. West Hollywood continues to see consistent rental growth, driven by an unyielding demand from new residents eager to be part of the West Hollywood experience. With rents currently below market value and a desirable unit mix, there's significant potential to boost the rental rate and stabilize at an impressive +/- 9.2% Cap Rate. The Laurel Apartments primed for various investment strategies by scaling operations and optimizing expenses. Whether you're an Owner/User or an Investor, 1253 N Laurel Ave promises to be a valuable addition to your portfolio. Featuring a remarkable WalkScore of 92, The Laurel Apartments offers its residents the luxury of a pedestrian-friendly lifestyle. The iconic Sunset Strip and Santa Monica Blvd. are a few moments away, allowing easy access to trendy dining, eclectic shopping, and diverse employment opportunities. The property's coveted location ensures residents benefit from extensive public transportation and parking access, making commutes to Beverly Hills, Century City, and Hollywood a breeze.
Based on information from California Regional Multiple Listing Service, Inc. as of 2023-10-03T00:28:54.443. 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 deemed reliable but is not guaranteed accurate by the MLS or Romero Home Team | eXp Realty. Licensed in the State of California, USA.