1235-1239 N Detroit St - Apartments FOR SALE


West Hollywood, CA 90046 | 
$4,500,000 USD
818-219-6146
1235-1239 N Detroit St, West Hollywood, CA for Sale
$4,500,000 USD
Apartments - FOR SALE
1/13
null | 5.21% Cap Rate

1235-1239 N Detroit St
West Hollywood, CA 90046


HIGHLIGHTS

  • Prime West Hollywood Location — Near Corner of Santa Monica Boulevard and La Brea Avenue
  • Large 12,999 Square Foot Lot Zoned WDR3C — Currently Contains Three Separate Buildings and 18 Open Parking Spaces
  • Two Blocks from West Hollywood Gateway Shopping Center — Among Only Big Box Retailers Permitted in West Hollywood (Target, Best Buy)
  • No Seismic Retrofit Requirements (Buyer to Verify)
  • Short Drive to The Grove, The Beverly Center, Sunset Strip, and Beverly Hills
  • Less than One Mile from the Epicenter of Hollywood — Hollywood Boulevard and Highland Avenue

OVERVIEW

Marcus & Millichap is pleased to announce the opportunity to purchase 1235-1239 N Detroit Street, an 18-unit multifamily property that includes an additional four non-conforming units, located in West Hollywood, CA. Situated near the intersection of Santa Monica Boulevard and La Brea Avenue, the three separate buildings are contained within one large 12,999 square foot parcel zoned WDR3C. Having earned a high Walk Score of 94 along with the title of “Walker’s Paradise,” the property allows tenants convenient access to several famous local neighborhoods and attractions. The Grove and The Original Farmers Market, along with The Beverly Center, the Sunset Strip, the Hollywood Bowl, and the Hollywood Walk of Fame are all within a short distance. Residents can also easily reach nearby Beverly Hills, Hancock Park, and Hollywood. According to recent reports from Niche.com, West Hollywood ranked #1 out of 111 neighborhoods in Los Angeles County among the Best Suburbs for Young Professionals, and ranked #2 in the entire state of California. With 80% of the West Hollywood population residing in rental housing, both occupancy rates and rents remain boosted in dense rental neighborhoods such as the area surrounding 1235-1239 N Detroit Street.

FOR SALE DETAILS

PRICE

$4,500,000 USD

PRICE/SF

$547 USD /SF

# OF UNITS

22

PRICE/UNIT

$204,545

CAP RATE

5.21%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Near Santa Monica Blvd | No Retrofit Required

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1940

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

12,999 SF

ZONING

R3, West Hollywood

APN/PARCEL ID

5531-008-007

ASK ABOUT THIS PROPERTY

Rick RaymundoMarcus and MillichapMore Info
818-219-6146

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Rick RaymundoMarcus and MillichapMore Info
818-219-6146

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.