West Hollywood, CA 90048 553 N Flores Street

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  • MLS# SR21069253
  • 04/02/2021
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Presented By: Gina Michelle with The Agency.
  • Beds • 10
  • Baths • 9
  • Garage • 10
  • Year Built • 1963

Home Details

An extremely rare opportunity to acquire a well-located, high-quality apartment community with multiple scenarios to add future value.5-unit multifamily property located in the always in-demand West Hollywood. Built in 1963, the property features one 1-bedroom unit, three 2-bedroom units, and one 3-bedroom unit. All units are occupied, with average in-place rents that are significantly below market allowing for substantial future upside. In addition to the rental and renovation upside scenarios, the Property also offers the potential to upgrade and convert the existing rental units to for-sale condominium units. The Property is ideally located just one block from the Melrose Avenue Shopping District, one of Los Angeles’ most famous shopping, dining, and entertainment destinations. With over 180 stores, restaurants, and entertainment options situated along the stretch of Melrose Avenue between La Brea Avenue and La Cienega Boulevard.As a testament to the amenity-laden location, the property features a coveted “Walker’s Paradise” designation with a walk score of 92 out of 100 and is directly served by several rapid bus lines and is immediately adjacent to numerous surface arterials, for convenient, centralized access to Hollywood and the greater Los Angeles Westside markets.
Presented By: Gina Michelle with The Agency.

Interior Features for 553 N Flores Street

Other Interior Features

Air Conditioning Y/NYes
Common Walls2+ Common Walls
Heating Y/NYes
Laundry FeaturesCommon Area

General for 553 N Flores Street

Additional Parcels Y/NNo
Carport Y/NYes
Co-Listing Agent State License #02039001
Community FeaturesStreet Lights, Sidewalks, Urban
CoolingWall/Window Unit(s)
ElectricElectricity - On Property
Garage Spaces10
Garage Y/NYes
HeatingCentral
Land Lease Y/NNo
LevelsTwo
Listing AgentGina Michelle - BRE#01503003
Listing Agent State License01503003
MLS AreaC10 - West Hollywood Vicinity
Parking FeaturesAttached Carport
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalMixed Use
Property SubTypeMixed Use
Property TypeResidential Income
RoofFlat
Senior Community Y/NNo
SewerPublic Sewer
Spa FeaturesNone
Special Listing ConditionsStandard
TermsCash to New Loan
Total Actual Rent6755
Total Units5
UtilitiesElectricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
ViewCity Lights
Water Sewer Expense2014
ZoningWDR3C

Exterior for 553 N Flores Street

Lot Features0-1 Unit/Acre, Near Public Transit, Street Level, Walkstreet
Lot Size Acres0.13
Lot Size Area5758
Lot Size SourceAssessor
Lot Size Square Feet5758
Lot Size UnitsSquare Feet
Number of Buildings1
Number of Separate Electric Meters5
Number of Separate Gas Meters5
Number of Separate Water Meters5
Road Frontage TypeCity Street
Road Surface TypePaved
SpaNo
Total Parking10
View Y/NYes
Water SourcePublic

Additional Details

Price History

Stephen Pliaconis

Pliaconis Realty Group
Price $1,895,000
MLS#SR21069253
List Date 04/02/2021
Property Type Income
Phone 310.658.1749
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