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Tracy Thrower Conyers

team@beachcitiesbuyers.com +1(424) 229-1634

$16,495,000

Est. payment - /mo

62 Beds

72 Baths

42,399 SqFt

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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 42,399 sqft

Price per Sqft $389

MLS Listing ID 24455673

Bedrooms 62

HOA Y/N No

Year Built 1965

Lot Size 0.623 Acres

Property Description

Seller finally says Sell! Over a $1M price reduction ! 5.25 cap with significant upside and room to convert the recreation rooms into two ADU's. Trophy Value Add Muti-family Investment opportunity in a Prime Hollywood Hills area of Los Angeles, CA.This Property has been in same family for over 40 years. Rents are 35 % below market ! The Market Cap Rate is over 8% with a 9 x GRM. Property has an inviting lobby - large pool- elevator - room to add multiple ADU's , a gym and a roof top deck. The property was built in 1965 but completely renovated in the 1980s. Units have central A/C . Walk score is 94. Premiere hiking trails nearby as well as Hollywood and Sunset Blvd eateries and shops.This is an amazing rental area -one of the most trendy, desirable and walkable neighborhoods in LA.Metro line is only a 15 min walk away and centrally located with Easy access to 101 freeway , Downtown and the San Fernando Valley. There is a tremendous amount of development and job availability in the immediate area.Netflix, Sunset Gower Studios, Nickelodeon, Capital Records within a 10 min drive. This property is surrounded by condos and an astute buyer can take this property to the next level with some cosmetic upgrades.

Location

State CA

County Los Angeles

Area C20 - Hollywood

Zoning LAR3

Interior

Heating Electric, Heat Pump

Fireplace No

Appliance Disposal

Exterior

Parking Features Underground

View Y/N Yes

View Park/Greenbelt

Total Parking Spaces 65

Building

Faces East

Story 4

Entry Level Three Or More

Architectural Style Contemporary

Level or Stories Three Or More

New Construction No

Others

Senior Community No

Tax ID 5550016020

Special Listing Condition Standard

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Listed by Alex Galuz Keller Williams Realty Calabasas #01291486

NEARBY SCHOOL & BUSINESS

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Tracy Thrower Conyers

+1(424) 229-1634

Broker Associate, JD | License ID: 01712960

Broker Associate, JD License ID: 01712960

1617 N Fuller AVE Los Angeles, CA 90046

Tracy Thrower Conyers

Key Details

Location

Interior

Exterior

Building

Others