Beverly Grove
955 N Croft Avenue
Los Angeles, California, 90069 United States

Sotheby's International Realty - Sunset Strip Brokerage
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Listing image

955 N Croft Avenue

This the first time in over 45 years that the property has been marketed for sale, making this a rare opportunity for a new investor. Consisting entirely of large two-bedroom, two-bathroom units, the property features floorplans averaging approximately 1,100 square feet each. Current tenants are paying an average of approximately $2.28 per square foot, which is well below the $3.88 per square foot rent that similar properties are achieving in this exclusive neighborhood. In addition to capitalizing on this rent upside, a new investor can also enjoy additional revenue streams generated by the on-site laundry room and the covered parking spaces.Located near the intersection of Santa Monica Boulevard and La Cienega Boulevard, the property is only three blocks from the world famous Sunset Strip. Tenants at this property enjoy all of the amenities and benefits of West Hollywood, while the landlord is not restricted by West Hollywood rent control. In addition to the Sunset Strip, the property is also within blocks of Trader Joes, Sprouts, Nobu, and Barneys Beanery. Several major high-end shopping destinations are within a short drive, including The Beverly Center, The Grove, The Original Farmers Market, Robertson Boulevard, and Rodeo Drive.

Listing Courtesy of Marcus & Millichap
 
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Amenities & Features

  • Listing Details
    • Property ID
      21708004
    • MLS#
      21708004
    • Property type
      Residential Income
    • Courtesy Of
      Listing Courtesy of Marcus & Millichap
    • Status
      Available
    • Listing Price
      $3,500,000
    • Subdivision
      Not Applicable-C10
    • County
      Los Angeles County
    • School District
      Los Angeles Unified
  • Utilities & Building
    • Year Built
      1967
    • Lot Size Unit
      Acre(s)
    • Lot Size
      0.15
    • Parking
      Garage