$2,795,000
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553 Flores Street West Hollywood, CA 90048
Cluster
Residence
10
Beds
9
Baths
...
Bed/Bath
7,087
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
Saves
The property at 553 Flores Ave offers an excellent unit mix, including one 1+1, one 2+2, one 3+3, two 3+2 units, and RTI plans for a 2+2 ADU, attracting a wide range of tenants from young professionals to families. Situated in the heart of West Hollywood, it serves as a gateway to Los Angeles' cultu...ral epicenter, near iconic landmarks like The Grove, Farmers Market, and Melrose Avenue, ensuring high tenant demand and premium rental rates. Nearby restaurants such as Catch LA, Sushi Gina Onodera, and Urth Caffe, with the "Golden Triangle" in Beverly Hills just a short drive away, add to its appeal. The property offers modern conveniences, fostering a sense of community and reducing reliance on transportation, leading to higher tenant retention and increased desirability. This stabilized asset presents an attractive acquisition in a supply-constrained market, offering a 5.12% CAP rate, with three of the five units extensively renovated and achieving market rents. The seller has secured approved plans for an ADU, enhancing rental income potential. West Hollywood's affluent demographic, with an average household income of nearly $131K within a mile, contributes to a favorable investment climate and sustained demand for quality rentals. Overall, 553 Flores Ave represents a compelling investment opportunity with strong fundamentals, a prime location, exceptional walkability, and promising growth prospects, making it a lucrative option for discerning investors in the dynamic Los Angeles real estate market.
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MLS#
24395707
Property Type
Cluster
Bedrooms
10
Bathrooms
Year Built
1963
Square Feet
7,087
sq. ft
Lot Size
0.13
Stories
2.0
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Walk Score measures the walkability of any address, Transit Score measures access to public transit on a scale of 1-100.
Source: Walk Score®
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