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Listing Details

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School Ratings & Info

Description

Marcus & Millichap is pleased to present a 7 Unit Offering in one of the best Hollywood Locations surrounded by multi-million dollar homes, new developments, shops, dining, and entertainment. The subject property was built in 1924 and features (3) 2 Bedroom / 1 Baths and (4) 1 Bedroom / 1 Bath. The Seller will deliver this Offering with RTI plans for an additional Studio unit that would add massive upside in rental potential and lower cost basis metrics. A future investor can also confirm the ability to add another ADU, which may potentially bring the total unit count to 9 Units. The interior of the units have unique character and have been very well maintained. The units that have been renovated have excellent finishes making them competitive with newer construction units in the area. The building offers additional income from parking and garages that are currently leased as store units.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-18T21:42:44.897. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.haciendagroupinc.com/homes/121109473
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6708 Willoughby Ave Los Angeles, CA 90038

  • Price: $2,490,000
  • Status: Active
  • Updated: 79 min ago
  • MLS #: 21-779954
10
Beds
0
Baths
0
½ Baths
0.17
Acres
6,280
SQFT
$396
$/SQFT
1924
Built
Neighborhood:
Hollywood
County:
Los Angeles
Area:
Hollywood
Property Description
Marcus & Millichap is pleased to present a 7 Unit Offering in one of the best Hollywood Locations surrounded by multi-million dollar homes, new developments, shops, dining, and entertainment. The subject property was built in 1924 and features (3) 2 Bedroom / 1 Baths and (4) 1 Bedroom / 1 Bath. The Seller will deliver this Offering with RTI plans for an additional Studio unit that would add massive upside in rental potential and lower cost basis metrics. A future investor can also confirm the ability to add another ADU, which may potentially bring the total unit count to 9 Units. The interior of the units have unique character and have been very well maintained. The units that have been renovated have excellent finishes making them competitive with newer construction units in the area. The building offers additional income from parking and garages that are currently leased as store units.
Exterior Features

Garage Structures Total 1 Lot Size Area 7250 Other Structures Accessory Dwelling Unit Parking Garage DetachedAttached Total Parking 5

Interior Features

Baths Total 7.00 Cooking Appliances Gas Cooling None Equipment Refrigerator Heating Wall Laundry Inside

Property Features

Assessed Total Value 1734000 Gross Income 144574 Gross Operating Income 144575 Like Units1 3 Like Units2 4 Net Operating Income 89284.00 Number Of Buildings 2 Number Of Units 7 Owner Pays WaterGardener Rent Control YN Yes Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Tenant Pays GasElectricity Total Annual Expense 51151 Type Of Units 2 +11+1 Year Built Source Vendor Enhanced Zoning Lard1.5

Listing provided courtesy of Robert Narchi DRE#01788517 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-18T21:42:44.897. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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Hacienda Agency Inc
77935 Calle Tampico # 201
La Quinta CA, 92253