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$ 6,500,000
Est. payment | /mo
23,611 SqFt
$ 6,500,000
Est. payment | /mo
23,611 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 23,611 sqft
Price per Sqft $275
MLS Listing ID CL25485757
HOA Y/N No
Year Built 1964
Lot Size 0.277 Acres
Acres 0.28
Property Sub-Type Other
Property Description
First time on the market in 47 years! Located on a charming tree lined street, steps away from Melose shops and dining. This 19 unit building consists of (15) two-bedroom units, (3) one-bedroom units, and (1) two-bedroom unique owner's penthouse unit with beautiful Hollywood Hills views. FIVE UNITS DELIVERED VACANT! Upgrade and increase rental incomes. The building is 23,611 gross square feet and sits on a 12,079-square-foot lot. Residents enjoy a 93 walk score with unparalleled access to world-class dining, retail shops, and entertainment along the renowned Melrose Ave. with Beverly Hills just minutes away. This prime location ensures excellent connectivity via La Cienega Blvd and Melrose Ave, offering both lifestyle and convenience. This offering presents a value-add investment opportunity, offering a 5.4% initial CAP rate with the potential to achieve 7.30% once units turnover. Don't miss your chance to own a piece of this thriving community where culture, And prime location create an ideal environment for residents to live, work, and play. (All Electric Building, 31 Parking Spaces, Photos reflect a sampling of all currently vacant units)
Location
State CA
County Los Angeles
Zoning WDR3
Interior
Heating Radiant
Fireplace No
Laundry Community Facility, Laundry Room
Exterior
Utilities Available Other Water/Sewer
View Y/N true
View City Lights, Hills
Building
Water Other
New Construction No
Others
Tax ID 5528015035
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Listed by Danny Mahelka • Coldwell Banker Realty