753 Lillian Way

Los Angeles, CA

 

$5,500,000

 
 
 
 

8

UNITS

$606

PRICE/SF

$687,500

PRICE/UNIT

4.89%

CAP

14.74

GRM

5.13%

PRO FORMA CAP

14.21

PRO FORMA GRM
 

LAAA is pleased to present The Lofts on Lillian Way, an eight-unit multifamily investment opportunity located in the Hollywood submarket of Los Angeles. Built in 2018, The Property offers investors the opportunity to acquire a premier core, investment-grade asset with upscale finishes in a spectacular location. Located on Lillian Way, approximately a quarter mile away from the intersection of Melrose Avenue and Vine Street, The Offering provides excellent walk-ability, ease of access to public transit and opulent living. This four-story investment was developed with luxury finishes and distinctive features that appeal to renters today. The Asset features state-of-the-art kitchens, fir wood plank style flooring, over-sized windows, and private balconies. The excellent unit mix includes 1- spacious two-story studio loft, 2- two bedroom / two bathroom with lofts, 4- two bedroom / two and a half bathroom with lofts, and 1- three bedroom / three and a half bathroom unit with two lofts. There are over $120,000 in furniture and appliances included in the sale. Units #1, 6, 7 & 8 are fully furnished and all 8 units include high-end washer & dryers, stoves & refrigerators. Newly built, the asset is also low in expenses as each unit is individually metered for water, power and gas.

The latest in apartment design, The Lofts on Lillian Way evoke the architectural aesthetic of a modern boutique hotel. Every detail is crafted to match the vibe of the neighborhood and the upscale preferences of today's lifestyle renter. These discerning renters are putting off home purchases and choosing an urban lifestyle where they can walk, work and socialize. The Lofts on Lillian Way enjoys a Walk Score of 91, further enhancing the attraction of investors seeking long-term ownership and core returns with this highly desirable urban-chic community in the Hollywood MSA.

Situated on a quiet residential street, The Offering provides a welcome-hideaway feel, while being within blocks from hot new restaurants, artisan cafes, bars, boutique shops, theaters, Paramount Studios, Raleigh Studios, Hollywood Forever and the quaint-yet-vibrant "Main Street America" community that is Hollywood, California. Hollywood, known as the "Entertainment Capital of the World", is also home to one of the most robust employment markets in the country and benefits from high renter demand, further bolstered by the booming entertainment industry. Few comparable properties are this close to the endless amount of dining, entertainment and nightlife.

The Lofts on Lillian Way is conducive to lifestyle renters who seek high-end finishes in locations where they can walk and bike to work, errands, dining, entertainment and nightlife. Only a few properties in Los Angeles fit these exacting standards sought by the most aggressive, core investors. The Property represents one of the newest and most stylized offerings on the market today.

 
 
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Glen Scher

Vice President

O: (818) 212-2808

M: (818) 667-6683

Email Now

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Filip Niculete

Vice President

O: (818) 212-2748

M: (818) 577-9893

Email Now