Marcus & Millichap is pleased to present an 7 unit apartment building on Hollywood Boulevard in prime Hollywood, California. Located in the center of Hollywood, 7467 Hollywood Blvd is a perfect location for a tenant to embrace the Hollywood lifestyle.
Built in 1937 and subject to rent control, the property consists of Two (2) Studios, One (1) One Bedroom/One Bathroom unit, Three (3) Two Bedroom/One and One Half Bathroom Townhouse Units, and One (1) Three Bedroom/Two Bathroom Townhouse Unit with a Washer and Dryner. Tenants are attracted to the property given the various amenities offered which include hardwood floors, crown moldings, spacious units, ample parking, and on-site laundry.
The subject property is located in Hollywood which is also known as the Heart of Los Angeles. Hollywood is a city known worldwide and is home to countless production and film companies. The entertainment options, dining establishments, and shopping outlets are endless. Conveniently located in between Fountain Avenue and Sunset Boulevard, the property is just minutes to Runyon Canyon, the Laugh Factory, the Hollywood Bowl, the Walk of Fame, the Chinese Theater and many other places. Various other attractions include the Hollywood and Highland Center, The Grove, Sunset Plaza, and the Beverly Center.
While the current owners have been successful in achieving reasonable rents, there is still significant upside in rental income. There is still opportunity to create significant higher income by renovating the exterior and completing the rehabs on some of the interiors and moving rents to market as the units turnover.
7467 Hollywood Blvd is an excellent opportunity for an investor looking to purchase a charming 1930's character building in the heart of Hollywood.
