CA > Los Angeles
Los Angeles, CA 90028,7056 Lanewood Ave
Los Angeles, CA 90028,7056 Lanewood Ave
Los Angeles, CA 90028,7056 Lanewood Ave
9
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$4,595,000
Est. payment /mo
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10 BD
22 BA
11,452 SqFt
Active

7056 Lanewood Ave Los Angeles, CA 90028

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Joshua Shorter

Joshua Shorter

+1(702) 728-0089

UPDATED:

11/25/2024 06:33 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 11,452 sqft

Price per Sqft $401

MLS Listing ID 24-391989

Bedrooms 10

Year Built 1953

Lot Size 0.344 Acres

Acres 0.3439

Property Description

7056 Lanewood Avenue is a 22-unit apartment community in Hollywood (90028). The offering offers investors a unique and rare opportunity to acquire an irreplaceable asset with strong in-place metrics and meaningful rental upside in one of LA's most dynamic and stable markets. 7056 Lanewood Avenue was built in 1953 and consists of 11,452 square feet of improvements. The unit composition features an attractive mix of Ten (10) spacious 1-Bedroom Units and Twelve (12) Studio Apartments. The property is sited on a +/- 14,977 square foot parcel, zoned LAR4. The property is well-parked, with 17 parking spaces, and is not on the list of LA City mandatory seismic retrofit. Tenants and future investors will appreciate this well-maintained asset, featuring an attractive courtyard and lush landscaping. Additional amenities include a secure entry with intercom gate access, gated parking, and on-site washer/dryer. 7056 Lanewood Avenue is master-metered for gas and electrical utilities, which currently allows an annual 5% rent increase. Additionally, the Ratio Utility Billing System (RUBs Program) is already in place for all incoming residents. Lanewood Avenue is a quiet tree-lined street near Hollywood employers and attractions. With its prime location in Hollywood, 7056 Lanewood is an outstanding rental location for residents looking for immediate access to major Hollywood employers, services, and entertainment venues. The proximity to world-class neighboring venues makes this an ideal investment for apartment operators seeking a stable investment opportunity and long-term wealth preservation and appreciation.

Location

State CA

County Los Angeles

Area Hollywood

Zoning LAR4

Rooms

Other Rooms None

Interior

Heating Other

Cooling Other

Flooring Hardwood

Equipment Other

Exterior

Parking Features Other

Garage Spaces 17.0

Building

Story 2

Level or Stories Two

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by KW Commercial Studio City

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Joshua Shorter

RE.S.0191694

+1(702) 728-0089

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7056 Lanewood Ave