3 Units | Prime Hollywood Triplex Gem

Highlights:

• Built 1932/1961
• Prime Hollywood Location
• New Roof Installed 2019
• 14% Rent Upside Potential
• Lowest Price in 90038 Zip
• Front Duplex + Rear House
• Entry Level Opportunity
• Well Maintained Asset

Description:

Overview

The LAAA Team of Marcus & Millichap is pleased to present 1224 N Wilcox Avenue, a three-unit multifamily property located in the heart of Hollywood’s Transit-Oriented Core. Positioned within a TOC Tier 3 zone and surrounded by major employment, transit, and entertainment hubs, the property offers investors a well maintained, low-intensity asset with light value-add potential and stable cash flow in one of Los Angeles’s most consistently rented submarkets.

Property

Built in 1932 and 1961, the property comprises two detached structures totaling 2,038 square feet on a 4,740-square-foot RD1.5-1XL lot. The front duplex includes two one-bedroom, one bath units, while the rear standalone house features a three bedroom, two-bath layout—ideal for owner occupancy or premium rental positioning. All three units are individually metered, RSO-subject, and currently occupied, providing reliable in-place income and approximately 14 percent upside in rents through natural turnover and light cosmetic upgrades.

Recent capital work includes a complete roof replacement (2019, finaled permit), providing peace of mind for long-term ownership. The property shows no deferred maintenance, is not subject to seismic retrofit, and sits outside all major hazard zones including flood, fire, and methane. With no open code violations and strong zoning fundamentals, 1224 N Wilcox presents an ideal first-time or exchange investment that combines stable returns, zoning flexibility, and long-term land security.

Location

Centrally positioned one block north of Fountain Avenue and just east of Cahuenga Boulevard, the property enjoys immediate access to the US-101 Freeway, Hollywood/Western Metro Station, and multiple rapid bus lines—linking residents directly to Downtown Los Angeles, Burbank, and the San Fernando Valley. The site is walkable to major neighborhood anchors including Netflix Studios, Kaiser Permanente Medical Center, Sunset Gower Studios, and Hollywood Recreation Center, placing tenants within one of Los Angeles’s most dynamic live-work environments.

Hollywood continues to experience sustained investment and redevelopment, with over $1.5 billion in recent and planned projects within a one-mile radius, including mixed-use, creative office, and hospitality developments. This surge in institutional ownership and infrastructure improvements has strengthened the submarket’s fundamentals—driving rent stability, low vacancy, and consistent long term appreciation. As a result, 1224 N Wilcox Avenue stands as a secure foothold within a core infill corridor that combines urban convenience, strong tenant demand, and enduring investor appeal.

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