23
See all 23 photos
$2,200,000
Est. payment /mo
8 Beds
10 Baths
7,583 SqFt
New
803 N Detroit ST Los Angeles, CA 90046
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 7,583 sqft
Price per Sqft $290
MLS Listing ID 26986595
Bedrooms 8
HOA Y/N No
Year Built 1929
Lot Size 7,248 Sqft
Property Description
803 N Detroit Street is a beautiful 10-unit character multifamily property located just east of West Hollywood near the Fairfax District. Built in 1929, the property features a desirable unit mix of (8) 1BR/1BA units and (2) studio units and is currently 100% occupied, providing investors with stable in-place income from day one. The property is offered at an attractive basis of approximately $220,000 per unit, $290 per square foot, a 6.05% cap rate, and a 10.33 GRM. Current rents remain approximately 42% below market, presenting a compelling value-add opportunity for an investor to significantly grow income over time while owning a well-located vintage asset in one of Los Angeles' strongest rental markets. Ownership has completed several meaningful capital improvements in recent years, including the full replacement of the building's rear exterior stairs in 2024 and upgrades to the electrical main panel, breakers and subpanels to a 400-amp Siemens system in 2021, per LADBS records. The property also includes two single-car garages providing additional parking or storage. 803 N Detroit Street is ideally positioned just east of West Hollywood near Plummer Park, the Fairfax District, Pan Pacific Park and The Grove. The property is also minutes from the Sunset Strip and Melrose Avenue, providing residents convenient access to some of Los Angeles' most popular restaurants, nightlife, shopping and entertainment.
Location
State CA
County Los Angeles
Area C10 - West Hollywood Vicinity
Zoning LAR3
Interior
Heating Forced Air
Fireplace No
Laundry None
Exterior
Garage Spaces 2.0
Garage Description 2.0
Total Parking Spaces 2
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5525003003
Special Listing Condition Standard
Listed by Jake Glaser Lyon Stahl Investment Real Estate, Inc. #02128816
NEARBY SCHOOL & BUSINESS
GET MORE INFORMATION