Description
We are pleased to offer for sale a rare multi-family investment opportunity located at 7056 Lanewood Avenue in the heart of Hollywood and immediately adjacent to West Hollywood. Consisting of 22 units in a serene courtyard setting, the building boasts a great unit mix consisting of large studio and 1-bedroom units. Offering substantial rental upside, the property will be delivered with several vacant units, thus enabling an astute investor to capitalize on high market rents. The unit mix includes (10) 1-bed, 1-bath units and (12) studio, 1-bath units. This is a great turnkey, easy to manage asset in an undeniably attractive location that will surely pay long-term dividends to a savvy investor. Additional property features include on-site parking for 17 cars that is exempt from seismic soft story retrofit work (Buyer to verify), an on-site laundry facility, and secure entry. All utilities are master metered, which will allow an investor to profit from higher annual rent increases. In close proximity to high-end dining, entertainment venues, and nightlife, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire an easy-to-manage asset in one of the best rental locations in all of Los Angeles.
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10BEDS
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0.34ACRES
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0BATHS
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01/2 BATHS
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11,452SQFT
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$432$/SQFT
School Ratings & Info
Description
We are pleased to offer for sale a rare multi-family investment opportunity located at 7056 Lanewood Avenue in the heart of Hollywood and immediately adjacent to West Hollywood. Consisting of 22 units in a serene courtyard setting, the building boasts a great unit mix consisting of large studio and 1-bedroom units. Offering substantial rental upside, the property will be delivered with several vacant units, thus enabling an astute investor to capitalize on high market rents. The unit mix includes (10) 1-bed, 1-bath units and (12) studio, 1-bath units. This is a great turnkey, easy to manage asset in an undeniably attractive location that will surely pay long-term dividends to a savvy investor. Additional property features include on-site parking for 17 cars that is exempt from seismic soft story retrofit work (Buyer to verify), an on-site laundry facility, and secure entry. All utilities are master metered, which will allow an investor to profit from higher annual rent increases. In close proximity to high-end dining, entertainment venues, and nightlife, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire an easy-to-manage asset in one of the best rental locations in all of Los Angeles.
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.