1167-1191 N Western Ave - Storefront Retail/Residential FOR SALE


Los Angeles, CA 90029- Hollywood
$3,650,000 USD
310-279-7779
1167-1191 N Western Ave, Los Angeles, CA for Sale
$3,650,000 USD
Storefront Retail/Residential - FOR SALE
1/5
null | 6.06% Cap Rate

1167-1191 N Western Ave
Los Angeles, CA 90029
Hollywood


HIGHLIGHTS

  • First time on the market in over 40 Years
  • Low $202 price per square foot and over 6% cap rate
  • Gated On-Site Parking
  • A few blocks away from new developments such as the Target-Hollywood Shopping Center, Netflix headquarters, and the Sunset-Western mixed-use complex
  • Walking distance from famed Sunset Boulevard
  • Well-maintained building with recently updated roof and plumbing

OVERVIEW

Sean Nami is proud to present, 1167 North Western Boulevard, a 21-unit mixed use property in the heart of Hollywood - first time on the market in over 40 years. The corner lot building features fourteen (14) multifamily apartments and seven (7) retail commercial spaces on the ground floor. Situated just two blocks from Sunset Boulevard, it benefits from proximity to new major developments, including the 175,000 square foot Target Hollywood Shopping Center, and the upcoming Sunset-Western Mixed-Use Complex, which is in development with plans to introduce 735 apartments and 94,000 square feet of commercial and retail space to the area. The building offers ample gated on-site parking, ensuring convenience for residents and tenants alike. The building features an exceptionally high 93 Walk Score, designated as a “Walker’s Paradise” with an array of retail, dining, and entertainment option nearby the property The offering is also priced attractively at a low $202 per square foot, presenting a valuable low cost basis investment opportunity. The property is well-maintained throughout the building and features recently remodeled and renovated retail units. Additionally, there is significant upside potential with over 32% upside in rents, making it an ideal prospect for investors seeking long-term value in a rapidly developing area. With Hollywood’s continued revitalization and the influx of new developments nearby, this property stands poised to benefit from both immediate cash flow and future appreciation.

FOR SALE DETAILS

PRICE

$3,650,000 USD

PRICE/SF

$222 USD /SF

CAP RATE

6.06%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1921

SPRINKLERS

-

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.31 AC

LAND SF

13,504 SF

ZONING

LAC4

APN/PARCEL ID

5536-008-004

ASK ABOUT THIS PROPERTY

Sean NamiLyon Stahl Investment Real EstateMore Info
310-279-7779

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Sean NamiLyon Stahl Investment Real EstateMore Info
310-279-7779

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.