10 Units by The Grove w/ Upside - Next Door Avail..

Highlights:

• WeHo adjacent - Prime location in the heart of the city
• Walking distance to The Grove - Central to Fairfax District
• Nightlife and hospitality options abound
• Walking distance to everything trendy
• Long term Owners with tons of upside on the rents
• Soft Story Retrofit complete
• Parking in front and back of building - Possible ADU?
• Tons of Jobs in immediate area including high paying entertainment jobs
• Next Door 9 Unit Building also for sale

Description:

Partners CRE is proud to exclusively present for sale a 10 unit residential income property just outside of West Hollywood. The adjacent 9 unit building is also available for sale.

Central, central, central! Just off Melrose Ave., and around the corner from the Central Fairfax District and Fairfax High School (with it’s weekend Melrose Trading Post), this property is right dab in the middle of a Walker’s Paradise, surrounded by shops, fine and casual dining, sought-after nightlife, and pretty much anything trendy one can think of!

Long-term owners have lovingly cared for the building over the years, and with new and longer-term tenants, rents are still averaging around 27% below market.

The building’s tuck-under parking has been mitigated, with the already-completed Soft Story Seismic Retrofit work. And there’s always potential for ADUs!

The offering features bright units that each cover the whole width of the building, and spacious layouts ranging from 652 square feet to 936 square feet each…with a Single at 295 square feet! There are three sets of tandem parking spaces in the front and five gated parking spaces in the back, accessible from the alley.

Lots of jobs in the area, but situated on a calm residential street with permit parking! Walking distance to The Grove, the 3rd Street Shopping District, the Beverly Center and more!

The property currently shares some services with the neighboring building, such as garbage, garage gates and laundry room.

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