8570 Holloway Dr

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Address: 8570 Holloway Dr, West Hollywood, California, US
Created date: May 15, 2024
Date last updated: May 18, 2024

Property Description

8570 Holloway Drive presents a unique and generational investment opportunity in the heart of West Hollywood, where prime location meets untapped potential. This charming triplex, situated one block south of the iconic Sunset Strip at the intersection of Sunset Blvd and La Cienega Blvd, offers investors a blank canvas with immense promise. Nestled on a 7,708 SF lot zoned R4B, 8570 Holloway currently comprises a front duplex and a vacant one-bedroom above the garages, presenting a unique opportunity for income generation while pursuing further development. The true allure of this property lies in its development potential. According to a BrickWork development report, the future owner can develop up to 8 units "by right" or 14 units by utilizing density bonus incentives (buyer to verify). In addition, the existing front duplex presents the perfect win-win opportunity. It is well-maintained by current ownership, allowing the future owner to generate income while undergoing the planning and development process. The front duplex features (1) two-story 3-bdrm. and 2.5-bath unit and (1) two-story 2-bdrm. and 2.5-bath unit. Each charming residence features spacious living and dining rooms perfect for entertainment, skylights and wrap-around picture windows that allow for plenty of natural light, a shared deck overlooking a lush and well-landscaped backyard, and an office space. Please note, the front duplex may be delivered VACANT upon COE. 8570 Holloway is a rare find in the highly sought-after West Hollywood market. With its prime location, untapped potential, and iconic allure of West Hollywood, the property combines immediate income potential with the promise of substantial future gains through development.

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: 2-4 Units
Price: $3,500,000
No. of Units: 3
Year Built: 1939
Lot Size: 4,003.00 Sq ft
Opportunity Zone: No
Price per unit: $1,166,667
Property Website Click Here
Number of Bedrooms: 6
Number of Bathrooms: 0
Address: 8570 Holloway Dr, West Hollywood, CA 90069, USA
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