SOLD 12/29/2023
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Commercial sold for $4,295,000 in 116 days
1253 N Laurel Ave West Hollywood, CA, 90046
Off the market Other
Situated in the heart of West Hollywood, 1253 N Laurel Ave, "The Laurel Apartments" is a charming 14-unit multifamily, encompassing 15,592 sqft on a 14,796 sqft lot. The Laurel Apartments is Available for the first time in 70 years and includes a highly desirable unit mix in coveted West Hollywood. Unit Mix is comprised of: (1) 3 Bed + 2 Bath Unit // (2) 2 Bed + 1.5 Bath Townhome-Style Units (One Unit Delivered Vacant) // (4) 1 Bed + 1 Bath Units // (7) 2 Bed + 2 Bath Units. West Hollywood continues to see consistent rental growth, driven by an unyielding demand from new residents eager to be part of the West Hollywood experience. With rents currently below market value and a desirable unit mix, there's significant potential to boost the rental rate and stabilize at an impressive +/- 9.2% Cap Rate. The Laurel Apartments primed for various investment strategies by scaling operations and optimizing expenses. Whether you're an Owner/User or an Investor, 1253 N Laurel Ave promises to be a valuable addition to your portfolio. Featuring a remarkable WalkScore of 92, The Laurel Apartments offers its residents the luxury of a pedestrian-friendly lifestyle. The iconic Sunset Strip and Santa Monica Blvd. are a few moments away, allowing easy access to trendy dining, eclectic shopping, and
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Property details
15,592 sqft interior area
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Other
Land area
14,796 sqft (0.34 acres)
Address
1253 N Laurel Ave, West Hollywood, CA, 90046
City of California
West Hollywood
County
Los Angeles
Year Built
1953
District
Listing
Virtual Tour
Nearby major retailers
Albertsons
Trader Joe's
Whole Foods Market
T-Mobile
Gucci
Tom Ford
Toyota
Supermarket: 12
Mobile phone: 6
Clothes: 2
Car: 1
Car repair: 1
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Interior Features
Tile, Vinyl floors
Floor Covering
Tile, Vinyl
Garage & Parking
Other
Amenities
Other
Listed by
David Weinberger, Keller Williams Studio City
Name
David Weinberger
License number
01349349
Brokerage company
Keller Williams Studio City
MLS #
CL23307401
Buyer agent
Name
Justin Nahamou
Brokerage company
Atllas, Inc.
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Calculate your monthly payments
Mortgage
$13,187
Taxes
$0
HOA dues
$0
Mortgage
$859,000 / 20%
2.28%
30 years
Your amount
$13,187 / month
Lot details
TMK #5554010006
Parcel nr.
5554010006
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%
63%
Non family households
445,681
Population
$129,470
Average Income
Age & gender
Median age 39 years
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Commute types
74% commute by car
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Education level
39% have bachelor education
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Number of employees
1% work in retail trade
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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
$2.5m
Neighborhood average
sales price*
sales price*
$1.77m
Neighborhood median
sales price*
sales price*
775
Number
of sales*
of sales*
Housing type
36% are apartments
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Rooms
38% 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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12 / 20
Above 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 | $4,295,000 | 0 | Public Record |
| Dec 29, 2023 | Price Decrease | $4,295,000 -14.1% | 0 | MLS #CL23307401 |
| Oct 3, 2023 | Under contract | $5,000,000 | 0 | MLS #CL23307401 |
| Sep 5, 2023 | New Listing | $5,000,000 | 0 | MLS #CL23307401 |
Taxes of 1253 N Laurel Ave, West Hollywood, CA, 90046
WDR4 zoning / MLS #CL23307401
Zoning
WDR4
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Frequently Asked Questions about 1253 N Laurel Ave
What is 1253 N Laurel Ave?
1253 N Laurel Ave is a Commercial/Industrial propertywith 15,592 sqft interior space.
What is the rental income?
-
What is the full address of this Commercial?
1253 N Laurel Ave, West Hollywood, CA, 90046.
What comparable properties are nearby?
Comparable nearby commercial properties include 1316 Havenhurst Dr, 8225 Fountain Ave, 7916 Santa Monica Blvd, 1047 N Sierra Bonita Ave, 1020 N Alfred St, 1226 N Fuller 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: Dec 29, 2023
Verhouse Last checked less than a minute ago
The closest grocery stores are Whole Foods Market, 0.26 miles away and Gelson's Market, 0.41 miles away.
The 90046 zip area has a population of 445,681, and 33% of the families have children. The median age is 39.68 years and 74% commute by car. The most popular housing type is "apartment" and 68% is renter.
