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1041 N Stanley AVE West Hollywood, CA 90046
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Key Details
Sold Price $2,900,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 6,756 sqft
Price per Sqft $429
MLS Listing ID 21759848
Sold Date 11/30/21
HOA Y/N No
Year Built 1957
Lot Size 6,525 Sqft
Acres 0.1498
Property Description
Presenting 1041 North Stanley Avenue, an 8-unit apartment asset in West Hollywood, one of the most desirable submarkets of Los Angeles. Located a half a block south of Santa Monica Boulevard and five blocks east of Fairfax, 1041 North Stanley Avenue tenants enjoy some of the hottest restaurants, shopping and nightlife within walking distance. Built in 1957, the property has an advantageous unit mix of (5) two-bedroom/two-bathroom and (3) one-bedroom/one-bathroom units with 8 parking spaces. This asset offers an investor a rare opportunity to own a value-add apartment asset in a class A location and neighborhood in West Hollywood. The current units are ripe for luxury renovations and offer a 63% upside potential in rental income. Densely packed into 1.9 walkable square miles, West Hollywood includes a vast culinary landscape, the Sunset Strips notorious nightlife, designer flagships lining the Design District, celebrity hot spots, global annual events, premier spas, fitness centers and entertainment. With the median price of homes at $1.82 million, 1041 North Stanley Avenue is in a highly sought-after location.
Location
State CA
County Los Angeles
Area C10 - West Hollywood Vicinity
Zoning WDR3C*
Interior
Interior Features CeilingFans
Heating None
Cooling None
Fireplace No
Appliance GasCooktop, GasOven
Exterior
Garage Covered, Carport
Parking Type Covered, Carport
Total Parking Spaces 8
Building
Story 2
New Construction No
Others
Senior Community No
Tax ID 5530016024
Special Listing Condition Standard
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Bought with Kimberly Roberts Stepp • Stepp Commercial