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Multifamily

8514 Sherwood Dr

8514 Sherwood Dr, West Hollywood, CA 90069

Listing Price: $5,495,000

Cap Rate
2.62%
Number of Units
12
Occupancy
67.0%
Price/Unit
$457,917
Price/Gross SF
$585.07
Gross SF
9,392

Investment Overview

Price Reduced! Marcus & Millichap is pleased to present a twelve (12) unit apartment building with preliminary plans for three (3) ADU units and four (4) vacant units for immediate renovation and upside located at 8514 Sherwood Drive in West Hollywood, California. The subject property is situated in a prime Tri-West location, south of Santa Monica Boulevard and west of La Cienega Boulevard. Built in 1957, this offering contains a solid unit mix of four (4) studio/one-bathroom units, eight (8) one-bedroom/one-bathroom units, and preliminary plans for three (3) studio/one-bathroom ADU units in the basement while keeping all existing parking spaces, all in prime West Hollywood. Four (4) Units will be delivered vacant for immediate renovations and upside. The property features large units with potential to reconfigure the layouts, creating additional beds and maximizing rent potential. Each unit features laminate flooring in the living rooms and bedrooms, while the kitchens and bathrooms boast unique tile with tons of built-in storage/cabinetry. These character units are expansive and bright with plenty of windows letting in natural light. All units come fully equipped with ceiling fans, window A/C units, stove/oven combos, refrigerators, and access to on-site laundry facilities. Select units include updated kitchens and fresh paint. Located on the corner of Sherwood Drive and West Knoll Drive, this 9,392 square foot building sits on a 6,466 square foot lot. This well-maintained property features an Old-Hollywood aesthetic, fitting for its prime location. It also includes eight (8) tuck-under parking spaces which need to be retrofitted (ADUs will lower the scope and cost of required soft-story retrofit), multi-level balcony space, and lovely curb appeal. Tenants enjoy the walkable access to dominant commercial corridors on La Cienega Blvd, a one (1) minute walk, and the Beverly Center, a fifteen (15) minute walk south. Situated in prime West Hollywood, this offering presents an excellent opportunity for any investor to capitalize on huge rental upside proximate to some of Los Angeles' most sought-after dining, retail and entertainment.

Investment Highlights

  • Prime West Hollywood Location (Tri-West)
  • Huge Rental Upside Potential
  • Four (4) Studio/One-Bathroom Units, Eight (8) One-Bedroom/One-Bathroom Units, & Preliminary Plans for Three (3) ADU Studio/One-Bathroom Units in the Basement While Keeping All Existing Parking Spaces
  • Four (4) Units Will Be Delivered Vacant for Immediate renovations and Upside
  • Large Units with the Potential to Reconfigure the Layouts, Creating Additional Beds & Maximizing Rents
  • Character Units Feature Unique Tile in Bathrooms & Kitchens
  • Tons of Built-In Storage/Cabinetry in Each Unit
  • Eight (8) Tuck-Under Parking Spaces & On-Site Laundry Facilities

Exclusively Listed By

Financing By

Multifamily

8514 Sherwood Dr

Listing Price: $5,495,000

Cap Rate
2.62%
Number of Units
12
Occupancy
67.0%
Price/Unit
$457,917
Price/Gross SF
$585.07
Gross SF
9,392

Investment Highlights

  • Prime West Hollywood Location (Tri-West)
  • Huge Rental Upside Potential
  • Four (4) Studio/One-Bathroom Units, Eight (8) One-Bedroom/One-Bathroom Units, & Preliminary Plans for Three (3) ADU Studio/One-Bathroom Units in the Basement While Keeping All Existing Parking Spaces
  • Four (4) Units Will Be Delivered Vacant for Immediate renovations and Upside
  • Large Units with the Potential to Reconfigure the Layouts, Creating Additional Beds & Maximizing Rents
  • Character Units Feature Unique Tile in Bathrooms & Kitchens
  • Tons of Built-In Storage/Cabinetry in Each Unit
  • Eight (8) Tuck-Under Parking Spaces & On-Site Laundry Facilities

Investment Overview

Price Reduced! Marcus & Millichap is pleased to present a twelve (12) unit apartment building with preliminary plans for three (3) ADU units and four (4) vacant units for immediate renovation and upside located at 8514 Sherwood Drive in West Hollywood, California. The subject property is situated in a prime Tri-West location, south of Santa Monica Boulevard and west of La Cienega Boulevard. Built in 1957, this offering contains a solid unit mix of four (4) studio/one-bathroom units, eight (8) one-bedroom/one-bathroom units, and preliminary plans for three (3) studio/one-bathroom ADU units in the basement while keeping all existing parking spaces, all in prime West Hollywood. Four (4) Units will be delivered vacant for immediate renovations and upside. The property features large units with potential to reconfigure the layouts, creating additional beds and maximizing rent potential. Each unit features laminate flooring in the living rooms and bedrooms, while the kitchens and bathrooms boast unique tile with tons of built-in storage/cabinetry. These character units are expansive and bright with plenty of windows letting in natural light. All units come fully equipped with ceiling fans, window A/C units, stove/oven combos, refrigerators, and access to on-site laundry facilities. Select units include updated kitchens and fresh paint. Located on the corner of Sherwood Drive and West Knoll Drive, this 9,392 square foot building sits on a 6,466 square foot lot. This well-maintained property features an Old-Hollywood aesthetic, fitting for its prime location. It also includes eight (8) tuck-under parking spaces which need to be retrofitted (ADUs will lower the scope and cost of required soft-story retrofit), multi-level balcony space, and lovely curb appeal. Tenants enjoy the walkable access to dominant commercial corridors on La Cienega Blvd, a one (1) minute walk, and the Beverly Center, a fifteen (15) minute walk south. Situated in prime West Hollywood, this offering presents an excellent opportunity for any investor to capitalize on huge rental upside proximate to some of Los Angeles' most sought-after dining, retail and entertainment.

Exclusively Listed By

Financing By

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