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$3,795,000
Est. payment /mo
14 Beds
14 Baths
7,888 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 7,888 sqft
Price per Sqft $481
MLS Listing ID 26876191
Bedrooms 14
HOA Y/N No
Year Built 1988
Lot Size 6,499 Sqft
Property Description
1001 N. Croft Avenue, an eight-unit multifamily investment opportunity in one of Los Angeles' most supply-constrained rental submarkets. Built in 1988, the property is exempt from the Los Angeles Rent Stabilization Ordinance (LARSO) and is governed solely by AB 1482, giving ownership meaningful flexibility rarely found in this location. In-place rents sit approximately 20% below market, and because the property falls outside LARSO, a new owner can immediately implement the full 8.7% rent increase currently permitted under AB 1482 on seven of the eight units. This combination of day-one income growth and long-term mark-to-market upside, in a non-rent-controlled asset west of La Brea, positions 1001 N. Croft Avenue as a rare opportunity to acquire durable cash flow with a clear path to significantly higher returns.The unit mix consists of six spacious two-bedroom, two-bathroom units and two one-bedroom, one-bathroom units. Each unit is fully equipped with a gas stove, dishwasher, refrigerator, microwave, and in-unit washer and dryer, complemented by granite countertops and wood flooring throughout. Central air conditioning and heat in every unit further distinguishes the property from its competitive set. Private outdoor space is a defining feature: every unit enjoys a balcony, while Units 201 and 204 each feature two patios, and top-floor units are enhanced by vaulted ceilings. Parking is well provided seven tandem spaces and one single space give every unit dedicated on-site parking, and one unit has been upgraded with a tenant-installed EV charger. Utility structure is investor-friendly, with ownership responsible only for water, trash, and sewer.1001 N. Croft Avenue sits in the heart of the West Hollywood / Beverly Grove corridor, one of the most desirable and consistently high-performing rental locations in Los Angeles. Residents are moments from the Melrose District's shopping and dining, the Santa Monica Boulevard commercial corridor, and the design showrooms of the West Hollywood Design District. The Beverly Center, The Grove, and Cedars-Sinai Medical Center one of the region's largest employers are all within a short drive, with the employment centers of Century City, Beverly Hills, and Hollywood's studio and media campuses minutes away.
Location
State CA
County Los Angeles
Area C10 - West Hollywood Vicinity
Zoning LAR3
Interior
Heating Central
Cooling Central Air
Fireplace No
Appliance Dishwasher, Microwave, Refrigerator
Exterior
Total Parking Spaces 15
Building
Story 3
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5529007027
Special Listing Condition Standard
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Listed by John Swartz Compass #01873487
Nearby Locations
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