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Key Details
Sold Price $2,300,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 8,210 sqft
Price per Sqft $280
MLS Listing ID 23337713
Sold Date 12/29/23
Bedrooms 13
HOA Y/N No
Year Built 1964
Lot Size 6,534 Sqft
Property Description
1031 N Laurel Ave, a seven-unit valueadd investment opportunity located in the heart of West Hollywood. Located just south of Santa Monica Blvd, this asset is ideally located with walkability to numerous entertainment options and restaurants such as Laurel Hardware, Ysabel, Delilah, among others. The building features an excellent unit mix of one one-bedroom, four two bedrooms, and two three-bedrooms with parking. One of the three-bedroom units will be delivered vacant at the close of escrow. The majority of the units are below-market, providing an investor the opportunity to capture the 49% rental upside through interior unit renovations as units turn. West Hollywood is one of the most coveted multifamily submarkets in Los Angeles and a top travel destination attracting those in entertainment, fashion, and entrepreneurship. High Walk Score of 95, proximity to schools, employment, and transit options, this location makes it convenient for residents to commute throughout the city and to nearby neighborhoods such as Beverly Hills, Hollywood, and Beverly Grove.
Location
State CA
County Los Angeles
Area C10 - West Hollywood Vicinity
Zoning WDR3C*
Interior
Interior Features Ceiling Fan(s)
Heating Natural Gas
Cooling Central Air
Fireplace No
Appliance Refrigerator
Building
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5529024020
Special Listing Condition Standard
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Bought with Donya Partow • Nelson Shelton Real Estate Era Powered