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8520 Sherwood Drive

West Hollywood, CA 90069
  • $4,895,000
  • STATUS: Active
  • ON SITE: 29 Days
  • ID#: 22180901
UPDATED: 58 min ago
$4,895,000
  • 0
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1957
County:

School Ratings & Info

Listing Agent(s): Jason Tuvia of Marcus & Millichap (818-212-2700)


Description

We are pleased to present a twelve (12) unit apartment building with preliminary plans for three (3) ADU units and four (4) vacant units for immediate renovation and upside priced at only 407K/door! The subject property is situated in a prime Tri-West location, south of Santa Monica Boulevard and west of La Cienega Boulevard. Built in 1957, this offering contains a solid unit mix of four (4) studio/one-bathroom units, eight (8) one-bedroom/one-bathroom units, and preliminary plans for three (3) studio/one-bathroom ADU units in the basement while keeping all existing parking spaces, all in prime West Hollywood. The property features large units with potential to reconfigure the layouts, creating additional beds and maximizing rent potential. Each unit features laminate flooring in the living rooms and bedrooms, while the kitchens and bathrooms boast unique tile with tons of built-in storage/cabinetry. These character units are expansive and bright with plenty of windows letting in natural light. All units come fully equipped with ceiling fans, window A/C units, stove/oven combos, refrigerators, and access to on-site laundry facilities. Select units include updated kitchens and fresh paint. Located on the corner of Sherwood Drive and West Knoll Drive, this 9,392 square foot building sits on a 6,466 square foot lot. This well-maintained property features an Old-Hollywood aesthetic, fitting for its prime location. It also includes eight (8) tuck-under parking spaces which need to be retrofitted (ADUs will lower the scope and cost of required soft-story retrofit), multi-level balcony space, and lovely curb appeal. Tenants enjoy the walkable access to dominant commercial corridors on La Cienega Blvd, a one (1) minute walk, and the Beverly Center, a fifteen (15) minute walk south. Situated in prime West Hollywood, this offering presents an excellent opportunity for any investor to capitalize on huge rental upside proximate to some of Los Angeles' most sought-after dining, retail and entertainment.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-19T22:31:59.677. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Cane Real Estate | Keller Williams La Jolla. Licensed in the State of California, USA.
www.canerealestate.com/homes/131085506
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8520 Sherwood Drive West Hollywood, CA 90069

  • Price: $4,895,000
  • Status: Active
  • On Site: 29 Days
  • Updated: 58 min ago
  • ID#: 22180901
0
Beds
0
Baths
0
½ Baths
0.15
Acres
1957
Built
Neighborhood:
C10 - West Hollywood Vicinity
County:
Los Angeles
Area:
C10 - West Hollywood Vicinity
Property Description
We are pleased to present a twelve (12) unit apartment building with preliminary plans for three (3) ADU units and four (4) vacant units for immediate renovation and upside priced at only 407K/door! The subject property is situated in a prime Tri-West location, south of Santa Monica Boulevard and west of La Cienega Boulevard. Built in 1957, this offering contains a solid unit mix of four (4) studio/one-bathroom units, eight (8) one-bedroom/one-bathroom units, and preliminary plans for three (3) studio/one-bathroom ADU units in the basement while keeping all existing parking spaces, all in prime West Hollywood. The property features large units with potential to reconfigure the layouts, creating additional beds and maximizing rent potential. Each unit features laminate flooring in the living rooms and bedrooms, while the kitchens and bathrooms boast unique tile with tons of built-in storage/cabinetry. These character units are expansive and bright with plenty of windows letting in natural light. All units come fully equipped with ceiling fans, window A/C units, stove/oven combos, refrigerators, and access to on-site laundry facilities. Select units include updated kitchens and fresh paint. Located on the corner of Sherwood Drive and West Knoll Drive, this 9,392 square foot building sits on a 6,466 square foot lot. This well-maintained property features an Old-Hollywood aesthetic, fitting for its prime location. It also includes eight (8) tuck-under parking spaces which need to be retrofitted (ADUs will lower the scope and cost of required soft-story retrofit), multi-level balcony space, and lovely curb appeal. Tenants enjoy the walkable access to dominant commercial corridors on La Cienega Blvd, a one (1) minute walk, and the Beverly Center, a fifteen (15) minute walk south. Situated in prime West Hollywood, this offering presents an excellent opportunity for any investor to capitalize on huge rental upside proximate to some of Los Angeles' most sought-after dining, retail and entertainment.
Exterior Features

Lot Features Front Yard Parking Features Covered Parking Total 8 Pool Features None Pool Private YN No Spa Features None Spa YN No View City Lights View YN Yes

Interior Features

Appliances Built-InOvenRangeRefrigeratorRange HoodDryerWasher Flooring Wood Heating Wall Furnace Heating YN Yes Interior Features Ceiling Fan(S)

Property Features

Additional Parcels YN No Association Fee 0 Gross Income 250008 Land Lease YN No Levels Multi/Split Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 154216 New Construction YN No Property Condition Updated/Remodeled Senior Community YN No Special Listing Conditions Standard Zoning Wdr3c*



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-19T22:31:59.677. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Cane Real Estate | Keller Williams La Jolla. Licensed in the State of California, USA.
 
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Cane Real Estate | Keller Williams La Jolla
7817 Ivanhoe Avenue #101
La Jolla CA, 92037
Listing Agent(s): Jason Tuvia of Marcus & Millichap (818-212-2700)