7056 Lanewood Avenue
7056 Lanewood Avenue
$4,595,000
10
22
11,452
11,452
$401
Description
7056 Lanewood Avenue is a 22-unit apartment community in Hollywood (90028). The offering offers investors a unique and rare opportunity to acquire an irreplaceable asset with strong in-place metrics and meaningful rental upside in one of LA's most dynamic and stable markets. 7056 Lanewood Avenue was built in 1953 and consists of 11,452 square feet of improvements. The unit composition features an attractive mix of Ten (10) spacious 1-Bedroom Units and Twelve (12) Studio Apartments. The property is...7056 Lanewood Avenue is a 22-unit apartment community in Hollywood (90028). The offering offers investors a unique and rare opportunity to acquire an irreplaceable asset with strong in-place metrics and meaningful rental upside in one of LA's most dynamic and stable markets. 7056 Lanewood Avenue was built in 1953 and consists of 11,452 square feet of improvements. The unit composition features an attractive mix of Ten (10) spacious 1-Bedroom Units and Twelve (12) Studio Apartments. The property is sited on a +/- 14,977 square foot parcel, zoned LAR4. The property is well-parked, with 17 parking spaces, and is not on the list of LA City mandatory seismic retrofit. Tenants and future investors will appreciate this well-maintained asset, featuring an attractive courtyard and lush landscaping. Additional amenities include a secure entry with intercom gate access, gated parking, and on-site washer/dryer. 7056 Lanewood Avenue is master-metered for gas and electrical utilities, which currently allows an annual 5% rent increase. Additionally, the Ratio Utility Billing System (RUBs Program) is already in place for all incoming residents. Lanewood Avenue is a quiet tree-lined street near Hollywood employers and attractions. With its prime location in Hollywood, 7056 Lanewood is an outstanding rental location for residents looking for immediate access to major Hollywood employers, services, and entertainment venues. The proximity to world-class neighboring venues makes this an ideal investment for apartment operators seeking a stable investment opportunity and long-term wealth preservation and appreciation.
- Listed by Nick Astrupgaard • DRE #01893466 • Brokerage DRE #01458187 • KW Commercial Studio City
- Listed by Rich Johns • DRE #01432215 • Brokerage DRE #01458187 • KW Commercial Studio City
Property Details for 7056 Lanewood Avenue
Zoning
LAR4
Parcel Number5548013018
Total Units22.0
Living Area11452
Source Living AreaVendor Enhanced
AreaHollywood (C20)
Vacancy Rate4.5%
Lot Size Area14981
Location
LISTING UPDATED: 05/22/2024 12:01 AM
Property Details for 7056 Lanewood Avenue
Status | Active |
---|---|
MLS # | 24-391989 |
Days on Market | 18 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1953 |
Lot Size | 0.34 AC / 14,981 SF |
County | Los Angeles County |
Location
Building Information for 7056 Lanewood Avenue
Stories2Residences-Year Built1953Building Size-Lot Size0.34 AC / 14,981 SF
Payment Calculator
$29,437 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 7056 Lanewood Avenue
Property History for 7056 Lanewood Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 7056 Lanewood Avenue
Taxable ValueLand$3,060,000Additions$1,129,480Total$4,189,480
Tax Record2023$52,317 ($4,360 / month)
Home Facts
Total Finished SqFt11,452 SqFtAbove Grade Finished SqFt11,452 SqFtLot Size14,977 SqFtStyleMulti-Family Res (5+ Units)Year Built1953ZoningLAR4CountyLOS ANGELESAPN5548-013-018
Schools near 7056 Lanewood Avenue
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Charter - | K to 12 |
Rating | School | Distance |
---|---|---|
Gardner Street Elementary School PublicK to 5 | ||
Hubert Howe Bancroft Middle School Public6 to 8 | ||
Hollywood Senior High School Public9 to 12 | ||
Larchmont Charter School CharterK to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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