7118 Willoughby Avenue

Los Angeles, CA 90046

$1,525,000
Last Sold Price
8
Beds
6
Baths
4,161 Sq. Ft.
$366 / Sq. Ft.
4,161
Sq. Ft.
$366
per Sq. Ft.

Description

Marcus and Millichap is pleased to present a six (6) unit apartment building located at 7118 Willoughby Avenue in Los Angeles, California. The subject property is situated in a prime West Hollywood adjacent location, south of Santa Monica Boulevard and west of North La Brea Avenue. Built in 1948, this property contains a great unit mix of three (3) one bedroom / one bathroom units, two (2) two bedroom / one bathroom units, and one (1) two bedroom / two bathroom unit. This rare corner lot property...Marcus and Millichap is pleased to present a six (6) unit apartment building located at 7118 Willoughby Avenue in Los Angeles, California. The subject property is situated in a prime West Hollywood adjacent location, south of Santa Monica Boulevard and west of North La Brea Avenue. Built in 1948, this property contains a great unit mix of three (3) one bedroom / one bathroom units, two (2) two bedroom / one bathroom units, and one (1) two bedroom / two bathroom unit. This rare corner lot property is gated, secure, and features lush landscaping. There is potential to convert the five (5) garage parking spaces or other areas within the spacious lot into two (2) ADU units. Offering will be delivered with one (1) vacant unit. Tenants will enjoy this incredible location in Los Angeles, right on the border of West Hollywood. Right across the street is a brand new Sprouts Farmers Marketplace. For entertainment, tenants can find some of the trendiest boutique retail and galleries just a few blocks away, along Melrose Avenue. Outdoor recreation is available less than half a mile away, just a short walk down the corridor on Willoughby Avenue to Poinsettia Recreation Center and tennis courts. Situated in a prime West Hollywood adjacent location, this offering presents an excellent opportunity for any investor to add value and capitalize on over 65% rental upside potential in one of the rarest core Los Angeles markets.
  1. Listed by Jason Tuvia • DRE #01772495 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 7118 Willoughby Avenue

Zoning
LAR3
Cross Streets
Santa Monica Blvd & N La Brea Ave
Parcel Number
5525004012
Total Units
6.0
Living Area
4161
Source Living Area
Vendor Enhanced
Area
West Hollywood Vicinity (C10)
Vacancy Rate
17%

Location

Listing Courtesy of Marcus & Millichap, Jason Tuvia, DRE #01772495

Sold By Marcus & Millichap, Jason Tuvia, DRE #01772495

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LISTING UPDATED: 08/02/2022 05:55 PM

Property Details for 7118 Willoughby Avenue

StatusSold
MLS #22-159082
Days on Market46
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1948
Lot Size0.15 AC / 6,747 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Jason Tuvia, DRE #01772495

Sold By Marcus & Millichap, Jason Tuvia, DRE #01772495

Add your commute

Building Information for 7118 Willoughby Avenue

Stories2Residences-Year Built1948Building Size-Lot Size0.15 AC / 6,747 SF

Payment Calculator

$9,930 per month

30 year fixed, 7.25% Interest

Principal and Interest

$8,323

Property Taxes

$1,607

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 7118 Willoughby Avenue

Community / Development
Community / Development
  • Tax Mello Roos: No
  • Number Of Units: 6
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Market
  • View: Yes
  • View Description: City
  • View: City Lights
  • Security Features: Gated
  • Water Heaters: Yes
Contract Info
Contract Info
  • Probate: No
  • Financing: Submit
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $96,426
  • Net Operating Income: $60,942.00
  • Gross Income: $99,408
  • Cap Rate: 3.48%
  • Gross Rent Multiplier: $17.60
  • Financial Info as Of: 06/09/2022
  • Vacancy Allow Dollar: $2,982.00
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 35484
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Alley: Yes
  • Paved: Yes
  • Lot Acreage: 0.1549
  • Lot Size Square Feet: 6747
  • Lot Features: Landscaped
  • Lot Description: Landscaped, Single Lot, Curbs, Alley Paved
  • Lot Location: City
Parking Details
Parking Details
  • Parking Garage: Detached, Garage Is Detached, Covered Parking, Garage
  • Total Parking: 5
  • Garage Spaces Total: 5
  • Parking Features: Detached Carport, Covered, Garage
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Air Conditioning
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Built-Ins
  • Common Walls: Attached
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis: No
  • Tennis Court: None
  • Patio Features: Balcony, Porch, Patio Open
  • New Construction: No
  • Other Structural Features: Balcony
  • Other Structures: Stall(s)
Lease Terms
Lease Terms
  • Entry Date: 05-19-2022
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,825.00
  • Unit Actual Rent: $1,825.00
  • Unit Projected Rent: $2,150.00
  • Like Units: 3
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $982.00
  • Unit Actual Rent: $982.00
  • Unit Projected Rent: $2,450.00
  • Like Units: 2
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $846.00
  • Unit Actual Rent: $846.00
  • Unit Projected Rent: $2,500.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $64,980.00
  • Assessed Improvement Percent: 51.16
  • Assessed Land Value: $62,033.00
  • Assessed Land Percent: 48.84
  • Assessed Total Value: $127,013.00

Property History for 7118 Willoughby 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 7118 Willoughby Avenue

Taxable ValueLand$1,300,000Additions$226,130Total$1,526,130
Tax Record2023$19,280 ($1,607 / month)
Home Facts
Total Finished SqFt4,161 SqFtAbove Grade Finished SqFt4,161 SqFtLot Size6,747 SqFtStyleMulti-Family Res (5+ Units)Year Built1948ZoningLAR3CountyLOS ANGELESAPN5525-004-012

Schools near 7118 Willoughby Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 9 to 12
Public - K to 5
Public - 9 to 12
Rating
School
Distance
Laurel Elementary School
PublicK to 8

Fairfax Senior High School
Public9 to 12

Melrose Elementary School
PublicK to 5

Whitman Continuation School
Public9 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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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 Marcus & Millichap, Jason Tuvia, DRE #01772495

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.