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$1,950,000

Beds
6
sq ft
2,984

1251 N Detroit St, West Hollywood, CA 90046

1251 N Detroit St

West Hollywood, CA 90046

  • 121 days on market
    • Price drop $300,000↓
We are 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. 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 de livered 75% 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 75% vacant property with RTI plans for two additional units while still getting a highly levered residential loan.

Details

Property type

Est. home value

$1,256,444

Property condition

Updated/Remodeled

Lot size

6,673 sq ft

Price per sq ft

$654

Year built

1947

HOA

No

Price History

12/11/2024
CLAW

CLAW #24436081

Listed
$1,950,000
11/12/2024
CLAW

CLAW #24436081

Removed
$1,950,000
10/01/2024
CLAW

CLAW #24436081

Price change
$1,950,000
-13.33%

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

First Republic Bank

Loan start date

August 2021

Original loan amount

$720,000

Est. remaining balance

Not provided

Interest rate

3.55%

Loan type

New Conventional, 30 year

Seller

1200 Detroit Llc

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 01/04/2025 at 11:20 PM

Listing updated: 12/11/2024 at 11:40 AM

Listed by: Jason Tuvia, Marcus & Millichap Phone #: (818) 212-2700

MLS: CLAW #24436081

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