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    955 N Croft Ave

    Los Angeles, CA 90069
    • $3,500,000
    • STATUS: Active
    • ON SITE: 47 days
    • ID#: 21-708004
    UPDATED: 13 min ago
    $3,500,000
    • 12
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,879
      SQFT
    • $509
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1967
    County:

    School Ratings & Info

    Description

    This the first time in over 45 years that the property has been marketed for sale, making this a rare opportunity for a new investor. Consisting entirely of large two-bedroom, two-bathroom units, the property features floorplans averaging approximately 1,100 square feet each. Current tenants are paying an average of approximately $2.28 per square foot, which is well below the $3.88 per square foot rent that similar properties are achieving in this exclusive neighborhood. In addition to capitalizing on this rent upside, a new investor can also enjoy additional revenue streams generated by the on-site laundry room and the covered parking spaces.Located near the intersection of Santa Monica Boulevard and La Cienega Boulevard, the property is only three blocks from the world famous Sunset Strip. Tenants at this property enjoy all of the amenities and benefits of West Hollywood, while the landlord is not restricted by West Hollywood rent control. In addition to the Sunset Strip, the property is also within blocks of Trader Joes, Sprouts, Nobu, and Barneys Beanery. Several major high-end shopping destinations are within a short drive, including The Beverly Center, The Grove, The Original Farmers Market, Robertson Boulevard, and Rodeo Drive.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-05-06T17:42:42.757. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.brandiprattrealestate.com/homes/115315290
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    955 N Croft Ave Los Angeles, CA 90069

    • Price: $3,500,000
    • Status: Active
    • Updated: 13 min ago
    • ID#: 21-708004
    12
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    6,879
    SQFT
    $509
    $/SQFT
    1967
    Built
    Neighborhood:
    West Hollywood Vicinity
    County:
    Los Angeles
    Area:
    West Hollywood Vicinity
    Property Description
    This the first time in over 45 years that the property has been marketed for sale, making this a rare opportunity for a new investor. Consisting entirely of large two-bedroom, two-bathroom units, the property features floorplans averaging approximately 1,100 square feet each. Current tenants are paying an average of approximately $2.28 per square foot, which is well below the $3.88 per square foot rent that similar properties are achieving in this exclusive neighborhood. In addition to capitalizing on this rent upside, a new investor can also enjoy additional revenue streams generated by the on-site laundry room and the covered parking spaces.Located near the intersection of Santa Monica Boulevard and La Cienega Boulevard, the property is only three blocks from the world famous Sunset Strip. Tenants at this property enjoy all of the amenities and benefits of West Hollywood, while the landlord is not restricted by West Hollywood rent control. In addition to the Sunset Strip, the property is also within blocks of Trader Joes, Sprouts, Nobu, and Barneys Beanery. Several major high-end shopping destinations are within a short drive, including The Beverly Center, The Grove, The Original Farmers Market, Robertson Boulevard, and Rodeo Drive.
    Exterior Features

    Lot Size Area 6499 Other Structures None Parking Garage Garage Total Parking 0

    Interior Features

    Baths Total 13.00 Cooling Other Equipment Other Heating Other

    Property Features

    Assessed Total Value 937560 Gross Income 202188 Gross Operating Income 198288 Like Units1 6 Net Operating Income 131551.00 Number Of Buildings 1 Number Of Units 6 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 66737 Type Of Units Residential Year Built Source Vendor Enhanced Zoning Lar3

    Listing provided courtesy of Roderick 'Rick' Raymundo DRE#01357019 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-05-06T17:42:42.757. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    eXp Realty of California, Inc.
    2603 Camino Ramon, Suite 200
    San Ramon CA, 94583