7056 Lanewood Avenue

Los Angeles, CA 90028

$4,595,000

List Price

10

bed Beds

22

shower Baths

11,452 sqft

straighten / sqft

1953

calendar_month Built

Property Description

7056 Lanewood Avenue is a 22-unit apartment community in Hollywood (90028). The offering offers investors a unique and rare opportunity to acquire an irreplaceable asset with strong in-place metrics and meaningful rental upside in one of LA's most dynamic and stable markets. 7056 Lanewood Avenue was built in 1953 and consists of 11,452 square feet of improvements. The unit composition features an attractive mix of Ten (10) spacious 1-Bedroom Units and Twelve (12) Studio Apartments. The property is sited on a +/- 14,977 square foot parcel, zoned LAR4. The property is well-parked, with 17 parking spaces, and is not on the list of LA City mandatory seismic retrofit. Tenants and future investors will appreciate this well-maintained asset, featuring an attractive courtyard and lush landscaping. Additional amenities include a secure entry with intercom gate access, gated parking, and on-site washer/dryer. 7056 Lanewood Avenue is master-metered for gas and electrical utilities, which currently allows an annual 5% rent increase. Additionally, the Ratio Utility Billing System (RUBs Program) is already in place for all incoming residents. Lanewood Avenue is a quiet tree-lined street near Hollywood employers and attractions. With its prime location in Hollywood, 7056 Lanewood is an outstanding rental location for residents looking for immediate access to major Hollywood employers, services, and entertainment venues. The proximity to world-class neighboring venues makes this an ideal investment for apartment operators seeking a stable investment opportunity and long-term wealth preservation and appreciation.

Listing Information

List Price $4,595,000
Status Active
MLS 24391989
Type Residential Income
Year Built 1953
Lot Size 14,981
Structure Size 11,452
DOM 91
Courtesy Of KW Commercial Studio City
Listing Agent Nick Astrupgaard DRE#01893466
Co-Listing Agent Rich Johns DRE#01432215

Interior Features

Total Bedroom
Bedrooms 10
Total Bathroom
Bathrooms 22
Flooring Information
Material Wood

Exterior Information

Maps

Listing information courtesy of: Nick Astrupgaard, Rich Johns, KW Commercial Studio City . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 30th, 2024 at 6:41 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.