Price Reduction - Views
Address
8514 Sherwood Drive, West Hollywood, CA
Price
$ 4,995,000
Property Attributes
  • MLS#22151000
  • TypeIncome
  • CountyLOS ANGELES
  • CityWest Hollywood
  • AreaWest Hollywood Vicinity
  • Zip90069
  • Style
  • Price$ 4,995,000
  • Bedrooms8
  • Full Bathrooms12
  • Half Bathrooms0
  • Sqr Footage9392
  • Lot Size6,466 SqFt
Listing Provided Courtesy Of:
Jason Tuvia with Marcus & Millichap
Data Source:
Combined LA/Westside MLS (CLAW)
Property Description

Price Reduced 600k! 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 located at 8514 Sherwood Drive in West Hollywood, California. 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. Four (4) Units will be delivered vacant for immediate renovations and upside. 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.

Price History
4/29/2022 Listed $5,595,000
5/20/2022 4% - $5,395,000
6/6/2022 4% - $5,195,000
6/23/2022 4% - $4,995,000

General Features

Appliances Built-In, Oven, Range, Refrigerator, Range Hood, Dryer, Washer
Heating Wall Furnace
Interior Features Ceiling Fan(s)
Levels Multi/Split
Listing Agent Jason Tuvia - BRE#01772495
Listing Agent State License 01772495
Lot Size Square Feet 6466
MLS Area C10 - West Hollywood Vicinity
Pool Features None
Property Condition Updated/Remodeled
Property Type Residential Income
Senior Community Y/N No
Spa Features None
Special Listing Conditions Standard
Status Active
Total Units 12
View City Lights
Zoning WDR3C*

Interior Features

Flooring Wood
Heating Y/N Yes

Exterior Features

Lot Features Front Yard
Lot Size Acres 0.1484
Lot Size Area 6466
Lot Size Units Square Feet
Number of Buildings 1
Parking Features Covered
Total Parking 8
View Y/N Yes

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Income Average in 90069

Price
AVG $5.79M
$5M
Visits
AVG 52
27
Year Built
AVG 1934
1957

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