$4,595,000
7056 Lanewood AVE Los Angeles, CA 90028
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$4,595,000
Est. payment /mo
10 Beds
22 Baths
11,452 SqFt
UPDATED:
09/30/2024 06:41 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 11,452 sqft
Price per Sqft $401
MLS Listing ID 24391989
Bedrooms 10
HOA Y/N No
Year Built 1953
Lot Size 0.344 Acres
Property Description
7056 Lanewood Avenue is a 22-unit apartment community in Hollywood (90028). The offering offers investors a unique and rare opportunity to acquire an irreplaceable asset with strong in-place metrics and meaningful rental upside in one of LA's most dynamic and stable markets. 7056 Lanewood Avenue was built in 1953 and consists of 11,452 square feet of improvements. The unit composition features an attractive mix of Ten (10) spacious 1-Bedroom Units and Twelve (12) Studio Apartments. The property is sited on a +/- 14,977 square foot parcel, zoned LAR4. The property is well-parked, with 17 parking spaces, and is not on the list of LA City mandatory seismic retrofit. Tenants and future investors will appreciate this well-maintained asset, featuring an attractive courtyard and lush landscaping. Additional amenities include a secure entry with intercom gate access, gated parking, and on-site washer/dryer. 7056 Lanewood Avenue is master-metered for gas and electrical utilities, which currently allows an annual 5% rent increase. Additionally, the Ratio Utility Billing System (RUBs Program) is already in place for all incoming residents. Lanewood Avenue is a quiet tree-lined street near Hollywood employers and attractions. With its prime location in Hollywood, 7056 Lanewood is an outstanding rental location for residents looking for immediate access to major Hollywood employers, services, and entertainment venues. The proximity to world-class neighboring venues makes this an ideal investment for apartment operators seeking a stable investment opportunity and long-term wealth preservation and appreciation.
Location
State CA
County Los Angeles
Area C20 - Hollywood
Zoning LAR4
Interior
Flooring Wood
Fireplace No
Exterior
Total Parking Spaces 17
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5548013018
Special Listing Condition Standard
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Listed by Nick Astrupgaard • KW Commercial Studio City
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