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$5,800,000
Est. payment /mo
16 Beds
16 Baths
10,744 SqFt
UPDATED:
12/05/2024 01:22 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 10,744 sqft
Price per Sqft $539
MLS Listing ID 24468333
Bedrooms 16
HOA Y/N No
Year Built 1950
Lot Size 0.276 Acres
Property Description
We are pleased to present the exclusive listing of 8730-8736 Holloway Drive. The properties built in 1950 consist of two eight (8) unit buildings (with their own APN#'s) side by side totaling sixteen (16) units with a total of 10,744 rentable square feet on a 12,014 square foot lot. The property offers a compelling investment opportunity in one of the most sought-after areas of Los Angeles, steps to the iconic Sunset Strip. The buildings feature a mix of renovated and standard one-bedroom, one-bathroom apartments. Seven of the units have been fully renovated with high-end finishes such as stainless-steel appliances, hardwood floors, quartz countertops, and updated fixtures, while the remaining nine units offer standard features. With six of the 16 units currently vacant, there is significant upside potential for the investor to quickly lease up these units and generate immediate cash flow. The property also offers ample parking with 12 covered spaces and four surface spaces, a valuable amenity in this urban area. Of note, the soft story retrofit has been completed. Located a 10-minute walk from the Sunset Strip, residents enjoy proximity to an array of entertainment, dining, and nightlife options, including famous venues like Soho House, Rainbow Bar & Grill, The Roxy Theatre, and Sunset Plaza. The neighborhood also offers excellent access to grocery stores like Whole Foods, Trader Joe's, and Ralph's, making it an attractive area for renters seeking convenience and a vibrant lifestyle. The building's community amenities, including controlled entry access and on-site laundry, further enhance its appeal to tenants. West Hollywood's strong rental demand and the area's high desirability as a cultural and entertainment hub offer significant potential for rental growth. The property's location in such high-demand area ensures a steady stream of potential tenants, and the vacancy rate presents a solid opportunity for the investor to capitalize on lease-up potential. Overall, this property offers strong potential for both short-term income through the lease-up of vacant units and long-term value appreciation as West Hollywood continues to grow and attract both renters and investors. The combination of its prime location, desirable unit features, and proximity to key West Hollywood landmarks makes 8730-8736 Holloway Dr an attractive investment opportunity in one of LA's most vibrant neighborhoods.
Location
State CA
County Los Angeles
Area C10 - West Hollywood Vicinity
Zoning WDR4*
Interior
Interior Features Ceiling Fan(s)
Heating Forced Air
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features Controlled Entrance
Total Parking Spaces 16
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4339009001
Special Listing Condition Standard
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Listed by Eliyahu Appel • Marcus & Millichap
1st Class Real Estate Mavericks
Brokerage | License ID: 02245942
+1(760) 203-3373 | 1stclassmavericks@gmail.com