$3,050,000
$3,350,000
9.0%For more information regarding the value of a property, please contact us for a free consultation.
7,880 Sqft Lot
SOLD DATE : 11/01/2024
Key Details
Sold Price $3,050,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID OC24158158
Sold Date 11/01/24
HOA Y/N No
Year Built 1961
Tax Year 2024
Lot Size 7,880 Sqft
Property Description
Generational Opportunity – Current ownership has owned the property for nearly 40 years. In its current state the property boasts an outstanding location with massive potential upside once a value add program is completed. The property presents opportunistic buyers the ability unlock immense upside and value at the property by implementing a value add program.
Prestigious Brentwood Location – located on the Westside of Los Angeles. Brentwood is one of the city's most renowned areas. The historic Brentwood Country Mart and Brentwood Country Club add to the neighborhood's prestigious lifestyle. Classified as “Very Walkable” by Walkscore.com and boasting one of the lowest population densities in the city, Brentwood offers an exclusive and tranquil atmosphere. The neighborhood's cultural richness is matched by its stylish retail boutiques, cafes, and promenades. With fewer than 400 apartment buildings in Brentwood, the high demand for rentals ensures a secure and lucrative investment opportunity for property owners.
High Barrier to Homeownership – despite high interest rates home values in Brentwood continues to be ranked in the Top 10 most expensive zip codes in Los Angeles County. Today's year over year home value growth is over 7% with the average home in Brentwood being priced at nearly $3 Million.
Close Proximity to Major Employment Hubs – strategically located near several prominent employment hubs, boasts a diverse range of job opportunities. A short drive away, Century City stands out as one of the strongest office markets in the country, hosting corporate offices, law firms, and financial institutions. The University of California, Los Angeles (UCLA) campus, in close proximity, serves as a significant employment hub in education, research, and healthcare. Nearby Culver City, known for its burgeoning tech and creative industries, provides additional employment prospects. Beverly Hills, is an upscale area with high-end businesses and luxury retailers, contributing to the economic vibrancy of the broader West Los Angeles region. These employment centers collectively enhance Brentwood's appeal, offering a balance between residential charm and access to diverse job markets.
Location
State CA
County Los Angeles
Area C06 - Brentwood
Zoning LAR3
Interior
Fireplace No
Laundry Common Area
Exterior
Parking Features Attached Carport, Assigned
Carport Spaces 9
Pool None
Community Features Biking, Golf, Storm Drain(s), Street Lights, Sidewalks, Urban
Total Parking Spaces 9
Private Pool No
Building
Lot Description Over 40 Units/Acre, Near Public Transit
Story 3
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 4265011049
Energy Description 1017.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash to Loan
Special Listing Condition Standard
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Michael Smith • NorthMarq Realty Services, Inc
GET MORE INFORMATION
Broker Associate | Lic# 01398838