Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire The Lofts on Lillian Way, an eight-unit multifamily investment opportunity located in the Hollywood submarket of Los Angeles. Built in 2018, The Lofts on Lillian Way offers investors the opportunity to acquire a premier core, investment-grade community with upscale condominium quality finishes in a spectacular location within the heart of Hollywood, California. Located on Lillian Way, approximately one-quarter mile away from the intersection of Melrose Avenue and Vine Street, the property provides excellent walkability, access to public transit, and luxury living. The four-story property was developed with luxury finishes and distinctive features that appeal to today's renters. The asset features state-of-the-art kitchens, fir wood plank style flooring, oversized windows, and private balcony space. The excellent unit mix includes one large, two-story studio loft, two two-bedroom units with lofts and two-bathrooms, four two-bedroom units with lofts and two and one-half bathrooms, and one three-bedroom unit with two lofts and three and one-half bathrooms.
Reflecting the latest in apartment design, The Lofts on Lillian Way evokes the architectural aesthetic of a modern boutique hotel. Every detail is crafted to match the vibe of the neighborhood and meet the upscale preferences of today’s lifestyle renter. These discerning renters are putting off home purchases and choosing an urban lifestyle where they can walk, work and socialize. The Lofts on Lillian Way enjoys a walk score of 91, further enhancing the attraction of domestic and foreign investors seeking long term ownership and core returns with this highly desirable urbanchic community in the Hollywood MSA.
Situated on a quiet residential street, The Lofts on Lillian Way provides a welcome, hideaway feel, while being within one block from the myriad of lifestyle amenities along Melrose Avenue, Vine, and Larchmont Boulevard, the world famous Paramount Pictures studio lot and Raleigh Studios. Residents are steps from hot new restaurants, artisanal cafes, bars, boutique shops, theaters and the quaint-yet-vibrant “Main Street America” community that is Hollywood, California.
The Lofts on Lillian Way has an incredibly unique location in the heart of Hollywood, California, which sits within one of the most robust employment markets in the country AND is known as the world’s entertainment capital. Few comparable properties are as close to the endless number of restaurants, retail and entertainment venues as The Lofts on Lillian Way. The Property also benefits from high renter demand, further bolstered by the booming entertainment industry in Hollywood and surrounding employment centers.
The Lofts on Lillian Way is conducive to lifestyle renters who seek high-end finishes in locations where they can walk and bike to work, dining, entertainment and errands. Only a few properties in Los Angeles fit these exacting standards sought by the most aggressive, core investors; The Lofts on Lillian Way represents one of the newest and most stylized of these opportunities.
