Active
6708 Willoughby Ave
Los Angeles CA, 90038
$3,999,999
$455.37 per sqft
Active
10 Beds
8,784 sqft
Residential
Built in 1924
Amazing Income Property Offering - Beautifully Renovated 9 unit - 5.4% In-Place Cap in Prime Hancock Park! Walk to Pizzeria Mozza and Tesla's new diner & drive-in theatre on Santa Monica Boulevard. We are very pleased to exclusively offer for sale The Siegel, a beautifully curated collection of 9 apartment units perfectly located in the Heart of Hollywood's media district. Steps from Larchmont Village and storied Hancock Park, as well as shops and restaurants on Melrose Avenue, 6708 Willoughby Avenue is a beautifully remodeled nine unit apartment community offering an investor an extremely strong income producing asset in one of the desirable rental markets across Los Angeles. Property features updated plumbing and electrical, new windows, freshly painted, new electrical panels, washer/dryer hookups in all units. The main panel has been upgraded to 400 amps with completely new wiring, including 10 new meters (9 units plus 1 house) have been installed. Units feature high-end finishes including new appliances, high end countertops, recessed lighting, and so much more. Offered at a 5.4% cap rate and a 13 GRM, 6708 Willoughby is an excellent income producing 9 unit apartment building in an extremely hot rental market surrounded by high end homes and primed to continue to appreciate and grow in rental income over time. The Siegel offers a 6.4% cap rate at market rents for all units, with additional rent growth in the future! Don't miss this stable income producing asset that holds significant income upside as rents grow.
23-339499
MLSⓇ ID
December 13, 2023
Listed
April 12, 2024
Updated
Map
6708 Willoughby Ave
Los Angeles CA, 90038
Interior Features
Total Stories
2
Bedrooms
10 Beds
Appliances
Freezer, Garbage Disposal, Range/Oven, Refrigerator, Microwave, Dishwasher, Stackable W/D Hookup
Laundry Description
In Unit
Floor Description
Hardwood
Fireplace
No
Cooling
Yes
Cooling Description
Air Conditioning
Heating
Yes
Heating Description
Combination
Exterior/Building Features
Lot Size
0.17 Acres
Architectual Style
Contemporary Mediterranean
Other Property Details
Area Name
Hollywood
Days on Market
121
Garage
No
Parking
Gated
Parking Total
2
View
Yes
View Description
City Lights, Hills
County
Los Angeles
Pool
No
Pool Features
None
Zoning
LARD1.5
Listing History
Date | Event | Price |
---|---|---|
4/12/2024 | Price Change | $3,999,999 -7% |
2/26/2024 | Price Change | $4,300,000 -5% |
Listed by Dana Brody with Dana Brody
Listing Contact: 310-849-8151
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Craig & David Homes shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 4/12/2024