We are very pleased to exclusively offer for sale The Siegel, a beautifully expanded and remodeled 9 unit corner lot multi-family property located steps from several illustrious Hollywood Studios as well as nearby historic and famous Hancock Park. The Siegel offers an investor a stabilized, strong income stream of over $313,000 in annual gross income and a $221,235 net operating income, delivering a new owner a Day 1 cap rate of 5.7% and a 12.4 GRM. Comprised of an excellent mix of large 1 and 2 bedroom units, plus one studio unit, The Siegel is perfectly situated on a beautiful tree-lined street, featuring a mix of multi-million dollar single family homes and well manicured duplex properties along Las Palmas Avenue. Many of these units at The Siegel have been renovated to include high end appliances, washer/dryer hookups, hardwood floors, recessed lighting, high end kitchen and bathrooms. This is truly one of the best 9 unit multi-family investment offerings in one of the strongest multi-family markets in Southern California.
Property Details
Price:
$3,895,000
MLS #:
24406797
Status:
Active
Baths:
0
Address:
6708 Willoughby Avenue
Type:
Residential Income
Neighborhood:
c20hollywood
City:
Los Angeles
Listed Date:
Jun 21, 2024
State:
CA
ZIP:
90038
Lot Size:
7,252 sqft / 0.17 acres (approx)
Year Built:
1924
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Schools
Interior
Appliances
Dishwasher, Disposal, Microwave
Heating
Combination
Exterior
Parking Features
Gated
Parking Spots
5.00
Pool Features
None
Security Features
Gated Community
Spa Features
None
Stories Total
2
View
City Lights
Financial
Tenant Pays
Gas, Electricity
Map
Community
- Address6708 Willoughby Avenue Los Angeles CA
- AreaC20 – Hollywood
- CityLos Angeles
- CountyLos Angeles
- Zip Code90038
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Courtesy of Dana Brody. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
6708 Willoughby Avenue
Los Angeles, CA
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