Views
Address
553 N Flores Street West Hollywood, CA
Price
$ 1,895,000
Property Attributes
  • ID#SR21069253
  • TypeIncome
  • CountyLOS ANGELES
  • CityWest Hollywood
  • AreaWest Hollywood Vicinity
  • Zip90048
  • StyleMixed Use
  • Price$ 1,895,000
  • Bedrooms10
  • Full Bathrooms9
  • Half Bathrooms0
  • Lot Size5,758 SqFt
Listing Provided Courtesy Of:
Gina Michelle with The Agency.
Data Source:
CRMLS
Property Description

An extremely rare opportunity to acquire a well-located, high-quality apartment community with multiple scenarios to add future value.5-unit multifamily property located in the always in-demand West Hollywood. Built in 1963, the property features one 1-bedroom unit, three 2-bedroom units, and one 3-bedroom unit. All units are occupied, with average in-place rents that are significantly below market allowing for substantial future upside. In addition to the rental and renovation upside scenarios, the Property also offers the potential to upgrade and convert the existing rental units to for-sale condominium units. The Property is ideally located just one block from the Melrose Avenue Shopping District, one of Los Angeles’ most famous shopping, dining, and entertainment destinations. With over 180 stores, restaurants, and entertainment options situated along the stretch of Melrose Avenue between La Brea Avenue and La Cienega Boulevard.As a testament to the amenity-laden location, the property features a coveted “Walker’s Paradise” designation with a walk score of 92 out of 100 and is directly served by several rapid bus lines and is immediately adjacent to numerous surface arterials, for convenient, centralized access to Hollywood and the greater Los Angeles Westside markets.

Price History
4/3/2021 Listed $1,895,000

General Features

Carport Y/N Yes
Co-Listing Agent State License # 02039001
Community Features Street Lights, Sidewalks, Urban
Cooling Wall/Window Unit(s)
Electric Electricity - On Property
Garage Spaces 10
Garage Y/N Yes
Heating Central
Levels Two
Listing Agent Gina Michelle - BRE#01503003
Listing Agent State License 01503003
MLS Area C10 - West Hollywood Vicinity
Parking Features Attached Carport
Pool Features None
Property Attached Y/N Yes
Property Sub Type Additional Mixed Use
Property SubType Mixed Use
Property Type Residential Income
Roof Flat
Sewer Public Sewer
Spa Features None
Terms Cash to New Loan
Total Actual Rent 6755
Total Units 5
Utilities Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View City Lights
Water Sewer Expense 2014
Zoning WDR3C

Interior Features

Air Conditioning Y/N Yes
Common Walls 2+ Common Walls
Heating Y/N Yes
Laundry Features Common Area

Exterior Features

Lot Features 0-1 Unit/Acre, Near Public Transit, Street Level, Walkstreet
Lot Size Acres 0.13
Lot Size Area 5758
Lot Size Source Assessor
Lot Size Square Feet 5758
Lot Size Units Square Feet
Number of Buildings 1
Number of Separate Electric Meters 5
Number of Separate Gas Meters 5
Number of Separate Water Meters 5
Road Frontage Type City Street
Road Surface Type Paved
Total Parking 10
View Y/N Yes
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 90048

Price
AVG $2.93M
$1.9M
Visits
AVG 18
10
Year Built
AVG 1940
1963
Walkscore
AVG 90
84
Data Provided by Walkscore ® not using MLS data

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