$1,100,000
$1,300,000
15.4%For more information regarding the value of a property, please contact us for a free consultation.
2,367 SqFt
SOLD DATE : 12/29/2023
Key Details
Sold Price $1,100,000
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
Square Footage 2,367 sqft
Price per Sqft $464
MLS Listing ID SB23195142
Sold Date 12/29/23
HOA Y/N No
Year Built 1923
Lot Size 5,606 Sqft
Acres 0.1287
Property Description
This exceptional SB8-exempt vacant duplex stands as a canvas of possibilities, offering a rare chance for developers or discerning homeowners seeking to redefine this property into a modern haven or a savvy investment opportunity. The front house, though challenged by extensive fire damage, opens doors to a transformative vision. Nestled in the heart of the sought-after Fairfax District, just off Melrose, the property boasts an esteemed address.
Notably, neither unit is subject to rent control, a rare attribute in the current market. The rear house was constructed in the 1980s, and the front unit was owner-occupied. This provides you with the flexibility to either embark on a new construction project to create two additional duplexes, forming an impressive 4-plex, or to embark on a renovation journey that promises to elevate the property's value to an impressive After Repair Value (ARV) of $2,000,000.
Offering a combined living space of 2,367 square feet, all set on a generous 5,605 square foot R2 lot, this property boasts not only tremendous potential but also an enviable location. The location of this property is truly outstanding, as it is conveniently situated near a highly-regarded school and boasts an outstanding walkability score. Enjoy the benefits of being just steps away from the vibrant Melrose Avenue, home to a plethora of remarkable restaurants and cafes, while also being a short drive from renowned destinations like The Grove, Beverly Hills, West Hollywood, and the prestigious Cedars Sinai Medical Center. Plus, the convenience of nearby grocery stores and more further adds to the allure of this promising real estate opportunity.
Location
State CA
County Los Angeles
Area C10 - West Hollywood Vicinity
Zoning LAR2
Rooms
Ensuite Laundry Electric Dryer Hookup, Gas Dryer Hookup
Interior
Interior Features All Bedrooms Down
Laundry Location Electric Dryer Hookup,Gas Dryer Hookup
Fireplace No
Laundry Electric Dryer Hookup, Gas Dryer Hookup
Exterior
Pool None
Community Features Sidewalks
Private Pool No
Building
Lot Description Corner Lot, Front Yard, Tear Down, Walkstreet
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5525011011
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Conventional
Special Listing Condition Standard
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Bought with Robert Sillman • Lyon Stahl Investment Real Estate, Inc.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "