ray@ray4realty.com
Ray (Arash) Akbari
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818.400.4344
 

553 Flores Street West Hollywood, CA 90048

1,895,000

General Information
  • Status: Pending
  • Type:Multi-Family
  • Bedrooms
  • Bathrooms
  • Square feet: 6,320
  • Lot size: 5,758
  • Year built: 1963
  • Mls# SR21069253
  • Days on Market: 117
  • Units: 5
  • Acres:
  • HOA Fees:
  • 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.
    Features
    • Flat Roof
    • Wall/Window Unit(s) Cooling
    • Central Heat
    • Attached Carport
    • Source:CRISNET IDX
    • LA:Gina Michelle
    • Co-LA:Melissa SiegelCalBRE#02039001
    • Listing Updated:7/22/2021 4:31:06 PM
    • LO:The Agency,SR0123501
    • Co-LO:The Agency,SR0123501
    • Database Updated:2021/07/28 21:58:21
    • SA:
    • SO:
    • Co-SA:
    • Co-SO:

    Based on information from CARETS as of 28/07/2021 07:00:00 AM. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. 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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    Testimonials

    Ray was very professional and courteous. He is knowledgeable on many aspects of the transaction and always willing to provide his ...
    - kanaotto

    Location

    23622 Calabasas Rd., Unit 148
    Calabasas, CA 91302
    818.400.4344
    ray@ray4realty.com

    DRE Lic. #01447600

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