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    1251 N Detroit Street

    West Hollywood, CA 90046
    • $1,649,000
    • STATUS: Active
    • ON SITE: 58 days
    • ID#: 21692642
    UPDATED: 162 min ago
    $1,649,000
    • 0
      BEDS
    • 0.14
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,984
      SQFT
    • $553
      $/SQFT
    Type:
    Multi-Family
    Built:
    1947
    County:

    School Ratings & Info

    Description

    We are pleased to present this rare opportunity to build OR operate the turnkey 4-unit property located in prime WEST HOLLYWOOD. Zoning is R3C which allows to build up to 45 Feet. The property is currently situated on a 6,724 SF lot, consisting of (4) one-bed/one-bath units, & generating ~$51,400/year (including market rental of 1 unit to be delivered VACANT), which helps offset carry costs, during a developer's entitlement period OR provides cash flow for this turnkey investment rental property. ***The current owner has schematic designs for the opportunity to build 5-8 luxury condos w/ combined building area of about 9,500 SF in one of the trendiest blocks of West Hollywood.*** The design proposes each unit comprising of individual private rooftop decks providing for extended views and social space for outdoor living. The vacant lot next door provides developers tremendous opportunity to combine properties creating a more cost effective project. The area is experiencing significant redevelopment (w/ numerous properties currently in the process of development) with an emphasis on the 1100 and 1200 blocks of Detroit Street. With a walk score of 90, the property is in close proximity to local restaurants and shops, Sunset Strip, Hollywood, Melrose, Pacific Design Center, Cedars Sinai & Beverly Hills.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-14T00:35:14.603. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Realty ONE Group Southwest. Licensed in the State of California, USA.
    www.necolrealty.com/homes/115143672
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    1251 N Detroit Street West Hollywood, CA 90046

    • Price: $1,649,000
    • Status: Active
    • Updated: 162 min ago
    • ID#: 21692642
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.14
    Acres
    2,984
    SQFT
    $553
    $/SQFT
    1947
    Built
    Neighborhood:
    C10 - West Hollywood Vicinity
    County:
    Los Angeles
    Area:
    C10 - West Hollywood Vicinity
    Property Description
    We are pleased to present this rare opportunity to build OR operate the turnkey 4-unit property located in prime WEST HOLLYWOOD. Zoning is R3C which allows to build up to 45 Feet. The property is currently situated on a 6,724 SF lot, consisting of (4) one-bed/one-bath units, & generating ~$51,400/year (including market rental of 1 unit to be delivered VACANT), which helps offset carry costs, during a developer's entitlement period OR provides cash flow for this turnkey investment rental property. ***The current owner has schematic designs for the opportunity to build 5-8 luxury condos w/ combined building area of about 9,500 SF in one of the trendiest blocks of West Hollywood.*** The design proposes each unit comprising of individual private rooftop decks providing for extended views and social space for outdoor living. The vacant lot next door provides developers tremendous opportunity to combine properties creating a more cost effective project. The area is experiencing significant redevelopment (w/ numerous properties currently in the process of development) with an emphasis on the 1100 and 1200 blocks of Detroit Street. With a walk score of 90, the property is in close proximity to local restaurants and shops, Sunset Strip, Hollywood, Melrose, Pacific Design Center, Cedars Sinai & Beverly Hills.
    Property Features

    Gross Income 4330 Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 0 Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 1 Zoning Wdr3c*

    Listing provided courtesy of Josh 'Afi' Afighom of Josh "Afi" Afighom


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-14T00:35:14.603. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Realty ONE Group Southwest. Licensed in the State of California, USA.
     
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