We are pleased to present 515 N Alfred St, a rare 18-unit apartment building in the heart of West Hollywood, a highly desirable area in Los Angeles, California. Built in 1961, the property consists of (4) one-bedroom + one-bathroom units, (13) two-bedroom + two-bathroom units, and (1) unique owner's penthouse,… Read More with three-bedrooms + 2 bathrooms, and breathtaking views. Located on a charming, tree-lined street, the building is 18,254 gross square feet and sits on a 15,919-square-foot lot. Residents enjoy unparalleled access to world-class dining, retail shops, and entertainment along the renowned Sunset Strip and Santa Monica Blvd, with Beverly Hills and Hollywood just minutes away. This prime location ensures excellent connectivity via La Cienega Blvd and Santa Monica Blvd, offering both lifestyle and convenience. The building's resort-style layout offers an inviting atmosphere, perfect for tenants seeking a luxurious living experience. With lovely, responsible tenants in place and easy maintenance features, this property promises a hassle-free investment. It presents a value-add investment opportunity, offering a 4.22% initial CAP rate with the potential to achieve 7.04% once units turnover. Don't miss your chance to own a piece of this thriving community where culture and sophistication meet.***Unit 209 was occupied by the Seller through an Owner Occupancy Eviction around May 2017. This unit will be delivered Vacant at close of escrow. Please contact agent for details regarding Owner Occupancy Evictions in the City of West Hollywood. Read Less
Courtesy of Marcus & Millichap, Michael Sterman, 818-943-2319.
Listing Snapshot
Days Online
15
Last Updated
Property Type
Other
Beds
33
Square Ft.
18,524
Lot Size
0.37 Acres
Year Built
1961
MLS Number
24-469965
30 Days Snapshot Of 90048
$2,477k
+13%
(avg) sold price
13
+30%
homes sold
150
+89%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
None
Building
18,524 sq ft, Built in 1961, Levels: Two
Cooling
Window Unit(s)
Disclosures
LA/Owner Related
Garage
Covered Parking
Lot
LotAcreage: 0.3654, LotSizeArea: 15,919
Parking
TotalParking: 0
Property
NumberOfUnits: 18, Zoning: WDR3C*
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