Two adjacent properties (7044 & 7056 Lanewood Ave) located on 5-lots in prime Hollywood. 37,449 S.F. zoned LAR4, TOC Tier 3 suitable to develop up to a 160 brand new multi-family property (Buyer to verify). Significant (58%) upside in rents. 9.4 x Gross & 7.6% Cap with rents at market. $247,273/Unit. Existing loan secured by 7044 Lanewood is $5,200,000 @ 4% fixed, payable I.O. until 12/1/24. Due 12/1/31 Sold with APN 5548-013-018 (7056 Lanewood Ave)
- Price:
- $13,600,000
- Bedrooms:
- 36
- Square Footage:
- 29,102
- Acreage:
- 0.86
- Year Built:
- 1956
- Listing ID #:
- 23234175
- Street Address:
- 7044 Lanewood Ave
- City:
- Hollywood
- State:
- California
- Postal Code:
- 90028
- County:
- Los Angeles
- Community:
- Hollywood
- Listing Status:
- Active
- Listing Type:
- Residential Income
- Approximate Total Liveable Area:
- 29102
- Number Of Units:
- 55
- Total # Of Buildings:
- 2
- Total Building Square Footage:
- 29102
- Year Built:
- 1956
- Gross Income:
- 918549
- Net Operating Income:
- 543807
- Conforms To Zoning:
- Lar4
- Lot Size:
- 37449
- Lot Square Footage:
- 37449
- Days On Market:
- 62
- On Market Date:
- 2023-01-17
- Originating Mls:
- Crmls
- Parking Description:
- Assigned
- Parking Spaces:
- 43
- Pool Description:
- Association
- Appliances:
- Dishwasher
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.
Your Payment
$1,400/mo
Source: CINC
- Listing Agent Hamid Soroudi with Keller Williams Beverly Hills
