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8514 Sherwood Dr

West Hollywood, CA 90069
  • $5,595,000
  • STATUS: Active
  • ON SITE: 19 Days
  • MLS #: 22-151000
UPDATED: 39 min ago
$5,595,000
  • 8
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 9,392
    SQFT
  • $596
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1957
County:

School Ratings & Info

Description

We are 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.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-18T21:42:57.743. 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.
www.searchdesertrealestate.com/homes/128175362
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8514 Sherwood Dr West Hollywood, CA 90069

  • Price: $5,595,000
  • Status: Active
  • On Site: 19 Days
  • Updated: 39 min ago
  • MLS #: 22-151000
8
Beds
0
Baths
0
½ Baths
0.15
Acres
9,392
SQFT
$596
$/SQFT
1957
Built
Neighborhood:
West Hollywood Vicinity
County:
Los Angeles
Area:
West Hollywood Vicinity
Property Description
We are 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.
Exterior Features

Covered Parking 8 Levels Multi/Split Lot Description Front YardSingle LotSidewalks Lot Location City Lot Size Area 6466 Other Structures None Parking Garage Covered Parking Patio Features Balcony Paved YN Yes Pool Description None Pool YN No Spa None Spa YN No Tennis Court None Total Parking 8 View Description City View YN Yes

Interior Features

Bathroom Features Shower Over Tub Baths Total 12.00 Common Walls Attached Cooking Appliances OvenBuilt-InsRangeRange Hood Cooling Air Conditioning Equipment Built-InsDryerRefrigeratorRange/OvenWasherCeiling Fan Flooring HardwoodWood Heating Wall Kitchen Features Counter TopRemodeled Laundry Laundry Area

Property Features

Assessed Total Value 295760 Gross Income 246408 Gross Operating Income 239016 Land Lease Type Fee Like Units1 4 Like Units2 8 Net Operating Income 142740.00 Number Of Buildings 1 Number Of Units 12 Property Condition Updated/Remodeled Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 96276 Type Of Units Market Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Wdr3c*

Listing provided courtesy of Jason Tuvia DRE#01772495 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-18T21:42:57.743. 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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The John Jay Group - Bennion Deville Homes
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