Views - Fixer Upper
Address
7070 Franklin Avenue Hollywood, CA
Price
$ 18,500,000
Property Attributes
  • MLS#AR20239350
  • TypePending
  • CountyLOS ANGELES
  • CityHollywood
  • AreaHollywood
  • Zip90028
  • Style
  • Price$ 18,500,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage35378
  • Lot Size0.6 Acres
Listing Provided Courtesy Of:
Handoko Chen with GIG Real Estate Inc..
Property Description

7070 Franklin Ave, Los Angeles, a 62-unit 100% VACANT value-add apartment investment opportunity located in the heart of Hollywood, CA. The property is a block away from the world renown Hollywood Blvd and literally within walking distance to the some of the most iconic Hollywood destinations such as El Capitan Theatre, Hollywood Walk of Fame, TCL Chinese Theatre, Hollywood & Highland, Madame Tussauds Hollywood, Yamashiro Hollywood. Because of this extremely great location, it has a Walk Score 93 out of 100, demonstrating “WALKER’s PARADISE” location to a variety of nearby amenities such as restaurants, shops, health clubs and entertainment venues. This offering presents the only TRUE VALUE ADD, 100% vacant investment opportunity in an iconic neighborhood of Los Angeles. The property has been in the same ownership since 1979. The property is three-story mid-high-rise apartment that was built in 1958 with ±35,378 SF building size and situated on a ±25,931 SF lot size. It has efficient unit mix and good number of parking spaces. The unit mix detail and floor plan can be found in the OFFERING MEMORANDUM. The property is bordering West Hollywood and has superb access to FWY 101, Santa Monica Blvd, and offers an easy commute to additional employment centers of downtown Los Angeles. BUYER TO PAY FOR BUYER's BROKER FEE.

Price History
11/13/2020 Listed $18,500,000

General Features

Assessments Buyer to Verify
Attached Structure Attached
Community Features Mountainous, Urban
Cooling None
Directions 1 block east of La Brea and 1 block north of Hollywood Blvd, nearby Hollywood & Highland
Garage Spaces 0.00
HOA Fee 0.00
Heating See Remarks
Levels Three Or More
Listagentaor Arcadia
Listing Agent Handoko Chen - BRE#01749321
Listing Agent State License 01749321
MLS Area C20 - Hollywood
Pool Features None
Price Per Square Foot 522.92
Property Attached Y/N Yes
PropertyCondition Fixer, Repairs Major
Sewer Public Sewer
Source System CRMLS
Spa Features None
Special Listing Conditions Standard
Total Units 62
Utilities See Remarks
View Hills, Neighborhood
Zoning LAR4

Interior Features

1st Bedroom Area Unit Type Square Feet
2nd Bedroom Area Unit Type Square Feet
3rd Bedroom Area Unit Type Square Feet
Common Walls 2+ Common Walls
Fireplace Features None
Heating Y/N Yes
Laundry Features Common Area
Laundry Y/N Yes
Studio Area Unit Type Square Feet
Total Stories 3

Exterior Features

Building Area Total 35378.00
Foundation Details See Remarks
Lot Features Lot 20000-39999 Sqft, Irregular Lot, Near Public Transit, Value In Land
Lot Size Acres 0.5952
Lot Size Area 25926.0000
Lot Size Source Assessor
Lot Size Square Feet 25926.00
Lot Size Units Square Feet
Number of Buildings 1
Number of Separate Electric Meters 1
Number of Separate Gas Meters 1
Number of Separate Water Meters 1
Total Parking 0.00
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 90028

Price
AVG $4.41M
$18.5M
Visits
AVG 32
42
Year Built
AVG 1978
1958

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