SOLD 12/29/2023
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Commercial sold for $2,300,000 in 58 days
1031 N Laurel Ave West Hollywood, CA, 90046
Off the market Other
1031 N Laurel Ave, a seven-unit valueadd investment opportunity located in the heart of West Hollywood. Located just south of Santa Monica Blvd, this asset is ideally located with walkability to numerous entertainment options and restaurants such as Laurel Hardware, Ysabel, Delilah, among others. The building features an excellent unit mix of one one-bedroom, four two bedrooms, and two three-bedrooms with parking. One of the three-bedroom units will be delivered vacant at the close of escrow. The majority of the units are below-market, providing an investor the opportunity to capture the 49% rental upside through interior unit renovations as units turn. West Hollywood is one of the most coveted multifamily submarkets in Los Angeles and a top travel destination attracting those in entertainment, fashion, and entrepreneurship. High Walk Score of 95, proximity to schools, employment, and transit options, this location makes it convenient for residents to commute throughout the city and to nearby neighborhoods such as Beverly Hills, Hollywood, and Beverly Grove.
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Property details
8,210 sqft interior area
Land area
6,533 sqft (0.15 acres)
Address
1031 N Laurel Ave, West Hollywood, CA, 90046
City of California
West Hollywood
County
Los Angeles
Year Built
1964
District
Listing
Nearby major retailers
Albertsons
Trader Joe's
Whole Foods Market
T-Mobile
Gucci
Tom Ford
Toyota
Supermarket: 13
Mobile phone: 8
Clothes: 2
Car: 1
Car repair: 1
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Interior Features
—
Amenities
Other
Listed by
Neema Ahadian, Marcus & Millichap
Name
Neema Ahadian
License number
01346750
Brokerage company
Marcus & Millichap
MLS #
CL23337713
Buyer agent
Name
Donya Partow
Brokerage company
Nelson Shelton Real Estate Era Powered
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Calculate your monthly payments
Mortgage
$7,062
Taxes
$0
HOA dues
$0
Mortgage
$460,000 / 20%
2.28%
30 years
Your amount
$7,062 / month
Lot details
TMK #5529024020
Parcel nr.
5529024020
90046 info
Essentials nearby
Neighborhood stats
Walkability
Coffee shops
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no data
Bus stop
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no data
Supermarket
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no data
Costco
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no data
Hospital
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no data
Park
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no data
Beach
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no data
Elementary school
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no data
Middle school
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no data
High school
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no data
Local airport
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no data
People living in 90046
33%
Families with children
National average: 39%
62%
Non family households
445,681
Population
$129,470
Average Income
Age & gender
Median age 39 years
More info
Commute types
75% commute by car
More info
Education level
39% have bachelor education
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Number of employees
1% work in retail trade
More info
Vehicles available
53% have 1 vehicle
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Vehicles by gender
53% have 1 vehicle
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Housing market insights for
$2.48m
Neighborhood average
sales price*
sales price*
$1.77m
Neighborhood median
sales price*
sales price*
794
Number
of sales*
of sales*
Housing type
35% are apartments
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Rooms
37% of the houses have 2 or 3 rooms
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Bedrooms
44% have 2 or 3 bedrooms
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Owners vs Renters
68% are renters
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9.67 / 20
Below Average
►
15-20
Most Walkable
10-15
Above Average
5-10
Below Average
1-5
Least Walkable
Walkability according to the National Walkability Index
Price history
Sold Dec 29, 2023
| Date | Event | Price | $/sqft | Source |
|---|---|---|---|---|
| Dec 29, 2023 | Sold | $2,300,000 | 0 | Public Record |
| Dec 29, 2023 | Price Decrease | $2,300,000 -2.13% | 0 | MLS #CL23337713 |
| Nov 2, 2023 | New Listing | $2,350,000 | 0 | MLS #CL23337713 |
Taxes of 1031 N Laurel Ave, West Hollywood, CA, 90046
WDR3 zoning / MLS #CL23337713
Zoning
WDR3
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Frequently Asked Questions about 1031 N Laurel Ave
What is 1031 N Laurel Ave?
1031 N Laurel Ave is a Commercial/Industrial propertywith 8,210 sqft interior space.
What is the rental income?
-
What is the full address of this Commercial?
1031 N Laurel Ave, West Hollywood, CA, 90046.
What comparable properties are nearby?
Comparable nearby commercial properties include 1146 N Formosa Ave, 1316 N Fairfax Ave, 648 N Hayworth Ave, 642 N Hayworth Ave, 610 N Spaulding Ave, 7401 Fountain Ave.
Based on information from the bridgeMLS as of 05-19-2024. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Listing last updated on: Jan 02, 2024
Verhouse Last checked 12 minutes ago
The closest grocery stores are Whole Foods Market, 0.28 miles away and Gelson's Market, 0.34 miles away.
The 90046 zip area has a population of 445,681, and 33% of the families have children. The median age is 39.65 years and 75% commute by car. The most popular housing type is "apartment" and 68% is renter.
