1005 North Croft Avenue

Los Angeles, CA 90069

$4,650,000
Price
10
Beds
10
Baths
6,440 Sq. Ft.
$722 / Sq. Ft.
6,440
Sq. Ft.
$722
per Sq. Ft.

Description

Welcome to an exceptional investment opportunity in the heart of West Hollywood. This offering presents three adjacent lots, each boasting a seven-unit building with a mix of studio, one-bedroom, two-bedroom, and three-bedroom units. Situated in one of Los Angeles' most desirable neighborhoods on Croft Avenue, these properties offer a remarkable canvas for investors and developers. With most residences delivered vacant, buyers will have the flexibility and freedom to carry out an extensive remodel...Welcome to an exceptional investment opportunity in the heart of West Hollywood. This offering presents three adjacent lots, each boasting a seven-unit building with a mix of studio, one-bedroom, two-bedroom, and three-bedroom units. Situated in one of Los Angeles' most desirable neighborhoods on Croft Avenue, these properties offer a remarkable canvas for investors and developers. With most residences delivered vacant, buyers will have the flexibility and freedom to carry out an extensive remodel or simply refresh the interiors. Also included with the sale are Ready-to-Issue (RTI) plans, streamlining the development process and generating returns sooner. RTI plans are for a 24-unit mid/full-service apartment complex featuring on-site staff, underground valet parking, and panoramic rooftop decks for all residents to enjoy. These lots offer unparalleled access to the city's finest dining, shopping, and entertainment destinations. Seize the chance to transform these three adjacent lots into a signature development that seamlessly blends modern aesthetics, convenient living, and urban sophistication. Whether you're an experienced developer seeking your next project or an investor looking to enter the dynamic West Hollywood market, these properties offer endless potential to shape a remarkable living experience.
  1. Listed by Azy Farahmand • DRE #01958066 • Brokerage DRE #01073919 • The Agency

Property Details for 1005 North Croft Avenue

Zoning
LAR3
Style
Low Rise
Parcel Number
5529007026
Total Units
7.0
Living Area
6440
Source Living Area
Vendor Enhanced
Area
West Hollywood Vicinity (C10)
Vacancy Rate
16

Location

Listing Courtesy of The Agency, Azy Farahmand, DRE #01958066
Add your commute
LISTING UPDATED: 11/28/2023 01:20 PM

Property Details for 1005 North Croft Avenue

StatusActive
MLS #23-298535
Days on Market186
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1959
Lot Size0.15 AC / 6,499 SF
CountyLos Angeles County

Location

Listing Courtesy of The Agency, Azy Farahmand, DRE #01958066
Add your commute

Building Information for 1005 North Croft Avenue

Stories2Residences-Year Built1959Building Size-Lot Size0.15 AC / 6,499 SF

Payment Calculator

$28,795 per month

30 year fixed, 7.25% Interest

Principal and Interest

$25,377

Property Taxes

$3,418

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1005 North Croft Avenue

Community / Development
Community / Development
  • Number Of Units: 7
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: 4
  • View: Yes
  • View Description: Walk Street, Other
Contract Info
Contract Info
  • Disclosures: As Is, LA/Owner Related, Listing Broker Advantage
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $1,026,000
  • Net Operating Income: $751,825.00
  • Gross Income: $1,026,000
  • Cap Rate: 5.39%
  • Gross Rent Multiplier: $13.59
  • Owner Pays: Gardener, Water, Other
  • Total Annual Expense: 274175
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1492
  • Lot Size Square Feet: 6499
  • Lot Size Dimensions: 50x130
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: On street, Tandem, Pull-through
  • Total Parking: 10
  • Parking Features: Street, Tandem Garage, Pull-through
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Air Conditioning
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 11-01-2023
  • Tenant Pays: Cable TV, Electricity, Gas
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $936.58
  • Unit Actual Rent: $936.58
  • Unit Projected Rent: $2,900.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $10,500.00
  • Like Units: 3
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,701.00
  • Unit Actual Rent: $2,701.00
  • Unit Projected Rent: $9,600.00
  • Like Units: 2
Unit 4 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $5,500.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,980,000.00
  • Assessed Improvement Percent: 60.0
  • Assessed Land Value: $1,320,000.00
  • Assessed Land Percent: 40
  • Assessed Total Value: $3,300,000.00

Property History for 1005 North Croft Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1005 North Croft Avenue

Taxable ValueLand$1,346,400Additions$2,020,320Total$3,366,720
Tax Record2023$41,016 ($3,418 / month)
Home Facts
Total Finished SqFt6,440 SqFtAbove Grade Finished SqFt6,440 SqFtLot Size6,499 SqFtStyleMulti-Family Res (5+ Units)Year Built1959ZoningLAR3CountyLOS ANGELESAPN5529-007-026

Schools near 1005 North Croft 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
Public - 7 to 12
Rating
School
Distance
Hubert Howe Bancroft Middle School
Public6 to 8

Fairfax Senior High School
Public9 to 12

West Hollywood Opportunity School
Public7 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.

Similar Homes

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1005 North Croft Avenue is a multi-family home for sale in Los Angeles, CA 90069. This property was listed for sale on November 1, 2023 by The Agency, it's currently listed at $4,650,000. It has been on the market for a total of 186 days and was last sold on May 26, 2021. This listing's school district is Los Angeles Unified School District. Nearby schools include Rosewood Avenue Elementary School, School for Advanced Studies, Hubert Howe Bancroft Middle School and Fairfax Senior High School. 1005 North Croft Avenue is a 10-bed, 10-bath, 6,440 sqft multi-family home built in 1959.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of The Agency, Azy Farahmand, DRE #01958066

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.