Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire the Haven Villa Apartments, a 30-unit apartment building located one block south of the famed Sunset Strip in West Hollywood. Built in 1953 and being offered for sale for the first time in 40 years, the property offers investors the rare opportunity to acquire a mid-sized value-apartment building in prime West Hollywood. A new investor should be able to implement a comprehensive renovation program that will increase rental income by approximately 68 percent over average in place rents.
Consisting of one two-story building on a 30,617 square foot lot, the unit mix includes (2) studio units (18) one-bedroom/one-bathroom floorplans, and (10) two-bedroom/one and one half-bathroom floorplans. The property is well amenitized featuring a swimming pool with sun deck and lounge furniture, on site laundry and on-site parking.
Located just south of the Sunset Strip in West Hollywood, Haven Villa provides residents access to countless restaurants, coffee shops, boutique shopping, and nightlife within a short walk. Additionally, the neighboring employment centers of Beverly Hills, Century City, Hollywood and Miracle Mile are a short distance from the subject property and offer residents a convenient commute to work.
