Executive Summary

INVESTMENT HIGHLIGHTS

• The Neema Group of Marcus & Millichap is pleased to present 626-632 N Wilton Place, Los Angeles, CA 90004. Located between Melrose Ave and Beverly Blvd, the subject property features two parcels totaling 13,615 in the heart of the Hollywood Studio District adjacent to the Hollywood Historic Hotel.
• The current structures consist of twelve bungalow-style units consisting of one-bedroom units which will be delivered 100% vacant, no relocations or buyouts necessary.
• This offering presents a developer the opportunity to purchase a sizeable lot ideal for a multifamily development project.
• The parcels are currently zoned R3-1; there are no plans or entitlements in-place currently. Opportunity to build 17 units by-right.
• The Hollywood market remains one of the most desirable submarkets for living and working. With over 100,000 people living within one-mile and an average home value of over $840,000 within a three-mile radius, the demand for apartment units continues to increase year-over-year.
• The subject property has a walk score of 90 and offers direct access to the 101 Freeway and a quick walk to the Metro Local Lines on Western & Melrose