1931 North Wilcox Avenue

1931 Wilcox Ave, Los Angeles, CA 90068, USA

For Sale

$6,000,000

Property Description

Marcus and Millichap is pleased to present a twenty-one (21) unit apartment building located at 1931 Wilcox Avenue in Los Angeles, California. The subject property is situated in a prime Hollywood Heights location, north of Franklin Avenue and west of Cahuenga Boulevard.

Hollywood Heights is a neighborhood in the Hollywood Hills of Los Angeles, bounded by the Hollywood Bowl on the north, Highland Avenue on the east, Outpost Estates on the west, and Franklin Avenue on the south. The hillside enclave offers residents with dominant access to 24- hour Hollywood attractions and amenities of all kinds. Hollywood Boulevard is home to many of these amenities and is a mere fifteen (15) minute walk south of the subject property. Residents enjoy the walk along this Boulevard to visit landmark spots like the Hollywood Walk of Fame, TCL Chinese Theatre, Dolby Theatre, Hollywood Wax Museum, Museum of Illusions, The Egyptian Theatre, and El Capitan Theatre. Other notable Hollywood Boulevard destinations include Hollywood & Vine, The Bourbon Room, Joe’s Pizza, Dirty Laundry, No Vacancy, and the Room Hollywood. Walk one (1) block further south to Sunset Boulevard to enjoy the plethora of amenities it houses. This area is also in close proximity to outdoor space at Franklin-Ivar Park, Yucca Park, Dorothy & Benjamin Smith Park, Selma Park, Highland Camrose Park, Runyon Canyon Park, Hollywood Reservoir Trailhead, Bronson Canyon, and the Griffith Observatory. Tenants also enjoy the easy access to nearly every part of Los Angeles via the US-101 Freeway and the many Los Angeles Metro stops within walking distance.

Built in 1939, this offering contains a good unit mix of two (2) studio/one-bathroom units, fifteen (15) one-bedroom/one-bathroom units, and four (4) two-bedroom/ one-bathroom units. Select units were recently refurbished with hardwood and tile flooring throughout, updated light fixtures, fresh paint, new vertical blinds, and updated bathrooms and kitchens featuring new hardware, including a refrigerator and gas stove. Each unit features wall A/C units and large windows creating a bright space. The rare art deco style property features gated access via intercom system, on-site laundry facilities, and a beautiful central courtyard including a community pool and recreation area. There is also ample gated and covered on-site parking available. Though there is parking available, no need for a vehicle in this location, with incredible walkable amenities around every corners. Residents can walk one (1) block south along Cahuenga Boulevard to visit Solar de Cahuenga Takeout, Madera Kitchen, It’s Pho, The North End Bar, and the Brickyard Pub. The property next door to the south has plans to build a luxury 144 room hotel which will boost demand for the neighborhood in additional to all the other new developments nearby.

Situated in prime Hollywood Heights, this offering presents an excellent opportunity for any investor to capitalize on strong rental upside in a premier market of Los Angeles.

Contact Agent

Jason Tuvia

(818) 212-2735

Unit Mix

Two (2) Studio / 1 Bathroom Units, Fifteen (15) 1 Bedroom / 1 Bathroom Units, & Four (4) 2 Bedroom / 1 Bathroom Units

Property Type

Multifamily

Submarket

Price

Size

15,313 SF

Total Units

Year Built

1939

Property Location

1931 Wilcox Ave, Los Angeles, CA 90068, USA

Property Description

Marcus and Millichap is pleased to present a twenty-one (21) unit apartment building located at 1931 Wilcox Avenue in Los Angeles, California. The subject property is situated in a prime Hollywood Heights location, north of Franklin Avenue and west of Cahuenga Boulevard.

Hollywood Heights is a neighborhood in the Hollywood Hills of Los Angeles, bounded by the Hollywood Bowl on the north, Highland Avenue on the east, Outpost Estates on the west, and Franklin Avenue on the south. The hillside enclave offers residents with dominant access to 24- hour Hollywood attractions and amenities of all kinds. Hollywood Boulevard is home to many of these amenities and is a mere fifteen (15) minute walk south of the subject property. Residents enjoy the walk along this Boulevard to visit landmark spots like the Hollywood Walk of Fame, TCL Chinese Theatre, Dolby Theatre, Hollywood Wax Museum, Museum of Illusions, The Egyptian Theatre, and El Capitan Theatre. Other notable Hollywood Boulevard destinations include Hollywood & Vine, The Bourbon Room, Joe’s Pizza, Dirty Laundry, No Vacancy, and the Room Hollywood. Walk one (1) block further south to Sunset Boulevard to enjoy the plethora of amenities it houses. This area is also in close proximity to outdoor space at Franklin-Ivar Park, Yucca Park, Dorothy & Benjamin Smith Park, Selma Park, Highland Camrose Park, Runyon Canyon Park, Hollywood Reservoir Trailhead, Bronson Canyon, and the Griffith Observatory. Tenants also enjoy the easy access to nearly every part of Los Angeles via the US-101 Freeway and the many Los Angeles Metro stops within walking distance.

Built in 1939, this offering contains a good unit mix of two (2) studio/one-bathroom units, fifteen (15) one-bedroom/one-bathroom units, and four (4) two-bedroom/ one-bathroom units. Select units were recently refurbished with hardwood and tile flooring throughout, updated light fixtures, fresh paint, new vertical blinds, and updated bathrooms and kitchens featuring new hardware, including a refrigerator and gas stove. Each unit features wall A/C units and large windows creating a bright space. The rare art deco style property features gated access via intercom system, on-site laundry facilities, and a beautiful central courtyard including a community pool and recreation area. There is also ample gated and covered on-site parking available. Though there is parking available, no need for a vehicle in this location, with incredible walkable amenities around every corners. Residents can walk one (1) block south along Cahuenga Boulevard to visit Solar de Cahuenga Takeout, Madera Kitchen, It’s Pho, The North End Bar, and the Brickyard Pub. The property next door to the south has plans to build a luxury 144 room hotel which will boost demand for the neighborhood in additional to all the other new developments nearby.

Situated in prime Hollywood Heights, this offering presents an excellent opportunity for any investor to capitalize on strong rental upside in a premier market of Los Angeles.

Contact Agent

Jason Tuvia

(818) 212-2735

(818) 448-4415

CalBRE #01772495

Unit Mix

Two (2) Studio / 1 Bathroom Units, Fifteen (15) 1 Bedroom / 1 Bathroom Units, & Four (4) 2 Bedroom / 1 Bathroom Units

Property Details

Property Type

Multifamily

Submarket

Hollywood Hills

Price

$6,000,000

Price per Unit

$285,714

Price per SF

$391.82

Status

For Sale

Size

15,313 SF

Total Units

21

Year Built

1939

Property Location

1931 Wilcox Ave, Los Angeles, CA 90068, USA