Investment Overview

Marcus and Millichap is pleased to present a four (4) unit apartment building located at 1251 N Detroit Street in West Hollywood, California. The subject property is situated in a prime West Hollywood location, south of Fountain Avenue and west of N La Brea Avenue. West Hollywood is a trendy area known for its high-energy nightlife and eclectic restaurants. The fabled Sunset Strip features the Chateau Marmont, a swanky celebrity hideaway, plus comedy clubs and live music venues like the legendary Whiskey a Go Go. Santa Monica Boulevard, awash in rainbow flags, is home to a number of gay bars, dance clubs and shops. WeHo also offers some of the city ’s most buzzworthy restaurants. The subject property is situated near the gateway from West Hollywood to Los Angeles. The area has recently been getting more attention thanks to numerous developments that continue to fuel demand in the area. Recently, LaTerra is finalizing construction for a mixed-use, 71-unit structure at 7617 Santa Monica Boulevard. Other proposed starts include 10-units at 7760-7798 Romaine Street, 17-units at 1032-1036 N Ogden Drive, and an astounding 95-unit hotel and housing mix at 7811 Santa Monica Boulevard. Built in 1947, this property contains a good unit mix of two (2) one-bedroom / one-bathroom units and two (2) two-bedroom / one-bathroom units. The asset will be delivered completely vacant. Select units have also been renovated with new appliances, cabinets, windows, sinks, and in unit washer and dryer. This offering also includes RTI plans for a duplex consisting of two (2) three-bedroom / two-bathroom units that will be situated between the two existing structures. Tenants will love living within only a couple miles from the Sunset Strip, Hollywood Boulevard, and numerous fashion, art, and entertainment amenities that West Hollywood has to offer. The neighborhood attracts many young professionals given the film, fashion, and art industry presence in this location. Plenty of dedicated street parking is available. Situated in the coveted 90046 zip code, this offering presents an excellent opportunity for any investor to capitalize on a 100% vacant property with RTI plans for two additional units while still getting a highly levered residential loan.