$4,500,000
$4,995,000
9.9%For more information regarding the value of a property, please contact us for a free consultation.
24 Beds
19 Baths
12,357 SqFt
SOLD DATE : 05/31/2024
Key Details
Sold Price $4,500,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 12,357 sqft
Price per Sqft $364
MLS Listing ID 24370458
Sold Date 05/31/24
Bedrooms 24
HOA Y/N No
Year Built 1964
Lot Size 0.270 Acres
Property Description
We are pleased to present for sale a highly unique 14-unit multifamily gem nestled in the Hollywood Hills walking distance to Universal City. 3625 Regal Place was built in 1964 and comprises a mix of 1, 2 and 3-bedroom units with unique architectural details and spacious layouts. The oversized 11,763 square foot parcel is situated on a gentle slope creating unique elevations throughout the property. There are private patio spaces with views of the surrounding hills as well as front and rear access via both Regal Place and Fredonia Drive. Soft story retrofitting has been completed and a certificate of completion has been issued. 3625 Regal is ideally located on a quiet cul-de-sac in close proximity to Hollywood, Universal City and Studio City. The property is walking distance to an amazing assortment of dining and entertainment options including The Baked Potato, Miceli's and Good Neighbor. 3625 Regal generates fantastic income equating to a cap rate of over 4.5% with remaining upside of approximately 45%. This is a rare turnkey asset allowing for favorable financing yet with tremendous upside potential.
Location
State CA
County Los Angeles
Area C03 - Sunset Strip - Hollywood Hills West
Zoning LARD1.5
Interior
Fireplace No
Exterior
Parking Features Carport
Total Parking Spaces 14
Building
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 2425004025
Special Listing Condition Standard
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Bought with Robert Renshaw • REMAX COMMERCIAL & INVESTMENT REALTY