Thank you
Max Berger
Compass
310-230-5478
8570 Holloway Drive presents a unique and generational investment opportunity in the heart of West Hollywood, where prime location meets untapped potential. This charming triplex, situated one block south of the iconic Sunset Strip at the intersection of Sunset Blvd and La Cienega Blvd, offers investors a blank canvas with immense promise. Nestled on a 7,708 SF lot zoned R4B, 8570 Holloway currently comprises a front duplex and a vacant one-bedroom above the garages, presenting a unique opportunity for income generation while pursuing further development. The true allure of this property lies in its development potential. According to a BrickWork development report, the future owner can develop up to 8 units "by right" or 14 units by utilizing density bonus incentives (buyer to verify). In addition, the existing front duplex presents the perfect win-win opportunity. It is well-maintained by current ownership, allowing the future owner to generate income while undergoing the planning and development process. The front duplex features (1) two-story 3-bdrm. and 2.5-bath unit and (1) two-story 2-bdrm. and 2.5-bath unit. Each charming residence features spacious living and dining rooms perfect for entertainment, skylights and wrap-around picture windows that allow for plenty of natural light, a shared deck overlooking a lush and well-landscaped backyard, and an office space. Please note, the front duplex may be delivered VACANT upon COE. 8570 Holloway is a rare find in the highly sought-after West Hollywood market. With its prime location, untapped potential, and iconic allure of West Hollywood, the property combines immediate income potential with the promise of substantial future gains through development.
Sell a home like this and save $209,501 Find Out How
Total Bedrooms : 6
Total Baths: 6
Full Baths: 0
Half Baths: 0
Interior Features: Ceiling Fan(s)
Property Appliances: Dishwasher,Refrigerator,Dryer,Washer
Fireplace: Living Room
Flooring: Tile,Wood
Wall Furnace
Has Heating
Fireplace Features: Living Room
Has Fireplace: 1
Year Built: 1939
Building Area Total: 4,003
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.177
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 7710
Original List Price: 3,500,000
Listing Contract Date: 2024-03-01
Listing Agreement: Seller Reserved
Parcel Number: 4339004002
Garage Description: Door-Multi,Door-Single,Garage
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: C10 - West Hollywood Vicinity
Postal Code Plus 4: 2446
Directions: Walking distance to the Sunset Strip, the subject property is located 2 blocks south of La Cienega Blvd. and Sunset Blvd.
Zoning: WDR4*
Source Property Type: Residential Income
Area: C10 - West Hollywood Vicinity
Property Age: 85
Year Built Source: Vendor Enhanced
Total Square Feet Living: 4003
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
8420 Sunset Boulevard #.., West Hollywood, CA,90069 | $3,600,000 | 2 | 2 | 2,726 | -- |
9255 Doheny Road #706, West Hollywood, CA,90069 | $2,980,000 | 2 | 3 | 1,672 | 32163 Sqft |
1235 N Olive Drive, West Hollywood, CA,90069 | $10,900,000 | -- | -- | -- | 14986 Sqft |
1229 N Olive Drive, West Hollywood, CA,90069 | $10,900,000 | -- | -- | -- | 14986 Sqft |
1223 Larrabee Street #4, West Hollywood, CA,90069 | $1,395,000 | 1 | 2 | 1,576 | 6999 Sqft |
1023 Hancock Avenue #114, West Hollywood, CA,90069 | $614,900 | 1 | 1 | 671 | 31001 Sqft |
1659 Marlay Drive, West Hollywood, CA,90069 | $10,500,000 | 6 | 8 | 7,049 | 21546 Sqft |
843 1/2 Westbourne Drive, West Hollywood, CA,90069 | $2,425,000 | 6 | -- | 3,240 | 6644 Sqft |
8787 Shoreham Drive #B7, West Hollywood, CA,90069 | $395,000 | -- | 1 | 304 | 48008 Sqft |
Woods Dr., West Hollywood, CA,90069 | $225,000 | -- | -- | -- | 4974 Sqft |
Copyright © 2024 by the Multiple Listing Service of the California Regional MLS®. This information is believed to be accurate but is not guaranteed. Subject to verification by all parties. This data is copyrighted and may not be transmitted, retransmitted, copied, framed, repurposed, or altered in any way for any other site, individual and/or purpose without the express written permission of the Multiple Listing Service of the California Regional MLS®. Information Deemed Reliable But Not Guaranteed. Any use of search facilities of data on this site, other than by a consumer looking to purchase real estate, is prohibited.
ByOwner last updated this listing 05/15/2024 @ 03:30
MLS: 24363935
LISTED BY: Max Berger, Compass
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.