8514 SHERWOOD DR

WEST HOLLYWOOD, CA, 90069

$5,595,000

$595 per ft²
$5,595,000
$595 per ft²
Active
Active
 - For Sale
beds
12 Beds
baths
8 Baths
carpenters-square
9,392 ft²
property_type
Multi-family
calendar
Built 1957
Price Reduced! 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.
MLS® ID:
22-130991
Listed:
2/23/22
Updated:
6/29/22

Interior Features

Kitchen Appliances
Oven, Built-Ins, Range, Range Hood
Kitchen Features
Counter Top, Remodeled
Total Bedrooms
12
Total Bathrooms
8
Laundry Description
Laundry Area
Floor Description
Hardwood, Wood
Cooling
Air Conditioning
Heating
Wall

Exterior/Building Features

Lot Size
6,466 ft² lot
Lot Details
Lot Shape-Rectangular, Curbs, Single Lot, Sidewalks

Other Property Details

Garage
No
Parking
Covered Parking
Parking Total
8.0
View
Y
County
Los Angeles
Pool
No
Pool Description
None
Total Stories
2
Zoning
WDR3C*

Property History

Date
Event
Price
Value
4/21/22
Price Change
$5,595,000
101%
4/5/22
Price Change
$5,495,000
-1%

 

Courtesy of Jason Tuvia, Marcus & Millichap

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Living the Dream shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2022 Combined L.A./Westside MLS. All rights reserved.

Data last updated 6/29/22

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