1253 Laurel Avenue

West Hollywood, CA 90046

$4,295,000

Sold Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $320 / sqft

1953

calendar_month Built

Property Description

Situated in the heart of West Hollywood, 1253 N Laurel Ave, "The Laurel Apartments" is a charming 14-unit multifamily, encompassing 15,592 sqft on a 14,796 sqft lot. The Laurel Apartments is Available for the first time in 70 years and includes a highly desirable unit mix in coveted West Hollywood. Unit Mix is comprised of: (1) 3 Bed + 2 Bath Unit // (2) 2 Bed + 1.5 Bath Townhome-Style Units (One Unit Delivered Vacant) // (4) 1 Bed + 1 Bath Units // (7) 2 Bed + 2 Bath Units. West Hollywood continues to see consistent rental growth, driven by an unyielding demand from new residents eager to be part of the West Hollywood experience. With rents currently below market value and a desirable unit mix, there's significant potential to boost the rental rate and stabilize at an impressive +/- 9.2% Cap Rate. The Laurel Apartments primed for various investment strategies by scaling operations and optimizing expenses. Whether you're an Owner/User or an Investor, 1253 N Laurel Ave promises to be a valuable addition to your portfolio. Featuring a remarkable WalkScore of 92, The Laurel Apartments offers its residents the luxury of a pedestrian-friendly lifestyle. The iconic Sunset Strip and Santa Monica Blvd. are a few moments away, allowing easy access to trendy dining, eclectic shopping, and diverse employment opportunities. The property's coveted location ensures residents benefit from extensive public transportation and parking access, making commutes to Beverly Hills, Century City, and Hollywood a breeze.

Listing Information

Close Price $4,295,000
Close Date Friday, December 29th, 2023
Status Closed
MLS 23307401
Type Residential Income
Year Built 1953
Lot Size 14,796
Structure Size N/A
DOM 28
Courtesy Of Keller Williams Studio City
Listing Agent David Weinberger DRE#01349349
Co-Listing Agent Megan Husri DRE#02089901

Interior Features

Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A
Flooring Information
Material Vinyl, Tile
Fireplace Information
Features None
Additional Information
Additional Features Ceiling Fan(s)

Exterior Information

Maps

Listing information courtesy of: David Weinberger, Megan Husri, Keller Williams Studio City . *Based on information from the Association of REALTORS/Multiple Listing as of Dec 29th, 2023 at 12:44 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.