1235-1239 N Detroit St
West Hollywood, CA 90046
Attractive Price/Unit | Large 12,999 SF Lot · Multifamily Property For Sale · 18 Units

*CAP Rate and GRM includes non-conforming units Marcus & Millichap is pleased to announce the sale of 1235-1239 N Detroit Street, a multifamily property situated in the prestigious and vibrant city of West Hollywood, adjacent to both Beverly Hills and Hollywood. Located near the intersection of Santa Monica Boulevard and La Brea Avenue, the property contains three separate buildings on a 12,999 square foot parcel. The asset includes 18 apartment units, plus an additional four non-conforming units, as well as on-site laundry facilities to provide an extra stream of income for the new owner. The property is in close proximity to both the Sunset Strip and Hollywood & Highland, offering tenants numerous options in terms of popular restaurants, bars, clubs, and shopping. Tenants can enjoy a short, two-block walk to the West Hollywood Gateway shopping center on Santa Monica Boulevard, which is anchored by both Target and Best Buy, the first big box retailers ever within the City of West Hollywood. Directly across the street from the property is a Ralphs Supermarket. In addition to boasting a Walk Score of 91, which is very high for the Los Angeles area, the building affords tenants convenient vehicular access to the The Grove and The Beverly Center. Current rents sit approximately 24% below market level, without even accounting for additional potential income earned by the non-conforming units. All three buildings were recently painted, helping to decrease deferred maintenance expenses for the owner. A quiet terrace is tucked into the rear corner of the property, providing a relaxing space for tenants to relax and/or socialize.