$2,695,000 Price Analysis   ♡   West Hollywood, CA 90048 10 bed 9 bath 7,087 SqFt ($380/SqFt) 5,760SqFt lot. Built 1963 Listed 2024-05-24, Taxes $22,839 | Ⓧ USDA Ineligible due to price & location near West Hollywood |
The property at 553 Flores Ave offers an excellent unit mix
Including one 1+1, one 2+2, one 3+3, two 3+2 units and RTI plans for 2+2 ADU, attracting a wide range of tenants from young professionals to families. Situated in the heart of West Hollywood, it serves as a gateway to Los Angeles' cultural epicenter, near iconic landmarks like The Grove, Farmers Mark et and Melrose Avenue, ensuring high tenant demand and premium rental rates. Nearby restaurants such as Catch LA, Sushi Gina Onodera and Urth Caffe, with the Golden Triangle in Beverly Hills a short drive away, add to its appeal. The property offers modern conveniences, fostering a sense of community and reducing reliance on transportation, leading to higher tenant retention and increased desirability.
This stabilized asset presents an attractive acquisition in a supply-constrained market, offering a 5.12% CAP rate, with three of the five units extensively renovated and achieving market rents. The seller has secured approved plans for an ADU, enhancing rental income potential. West Hollywood's affluent demographic, with an average household income of nearly $131K within a mile, contributes to a favorable investment climate and sustained demand for quality rentals. Overall, 553 Flores Ave represents a compelling investment opportunity with strong fundamentals, a prime location, exceptional walkability and promising growth prospects, making it a lucrative option for discerning investors in the dynamic Los Angeles real estate market.
Presented by Saadia Liberow at
Marcus & Millichap.
Property MLS #24-395707 from TheMLSCLAW
Full Bathrooms: 9
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 5760
Calculated Total Monthly Association Fees: 0
Number of Units: 6
Unit Features: 1 BedsTotal: 3, 1 BathsTotal: 2, 1 SquareFeet: 4500, 2 BedsTotal: 2, 2 BathsTotal: 2, 2 SquareFeet: 3500, 3 BedsTotal: 3, 3 BathsTotal: 3, 3 SquareFeet: 4500, 4 BedsTotal: 1, 4 BathsTotal: 1, 4 SquareFeet: 2500, 5 BedsTotal: 3, 5 BathsTotal: 2, 5 SquareFeet: 4500, 6 BedsTotal: 2, 6 BathsTotal: 2, 6 SquareFeet: 3500
County: Los Angeles
Cap Rate: 5.36
Directions: Near cross streets Flores St and Clinton Ave.
Source Property Type: Residential Income
Area: West Hollywood Vicinity
Source Neighborhood: West Hollywood Vicinity
Parcel Number: 5528-014-042
Postal Code Plus 4: 6035
Zoning: WDR3C
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $1,095,000 + $730,000 $1,825,000 | $22,839 |
| 2021 | $174,384 + $70,191 $244,575 | $4,823 |
| 2020 | $172,596 + $69,472 $242,068 | $4,848 |
| 2019 | $169,212 + $68,110 $237,322 | $4,707 |
| 2018 | $165,895 + $66,775 $232,670 | $4,562 |
| 2017 | $162,643 + $65,466 $228,109 | $4,449 |
| 2016 | $159,454 + $64,183 $223,637 | $4,289 |
| 2015 | $157,059 + $63,219 $220,278 | $4,242 |
| 2014 | $153,983 + $61,981 $215,964 | $4,272 |
| 2013 | $153,288 + $61,701 $214,989 | $4,245 |
| 2012 | $150,283 + $60,492 $210,775 | $4,259 |
| 2010 | $147,337 + $59,306 $206,643 | $4,038 |
| 2009 | $146,584 + $59,003 $205,587 | $3,895 |
| 2009 | $146,236 + $58,863 $205,099 | $3,895 |
| 2008 | $143,710 + $57,847 $201,557 | $3,775 |
| 2007 | $140,893 + $56,713 $197,606 | $3,647 |
$2,695,000
TheMLSCLAW
Listed 2024-05-24
$2,795,000
TheMLSCLAW
Listing removed 2022-01-25
$0
CRISNET
Sold 2021-07-30
$1,825,000
Public Record
Listing removed 2012-05-16
$2,295
ITECH
Listing removed 2010-03-15
$2,295
TheMLSCLAW
Listing removed 2010-01-04
$2,295
TheMLSCLAW
Listed for rent 2009-10-18
$2,295
TheMLSCLAW
Listed for rent 2009-10-09
$2,295
ITECH
Listed for rent 2009-10-09
$2,295
TheMLSCLAW
Listing removed 2005-10-02
$1,995
ITECH
Listed for rent 2005-08-11
$1,995
ITECH
Year Built: 1963
Levels: Two Level
Property Age: 61
Levels or Stories: 2
Building Total Stories: 2
Year Built Source: Vendor Enhanced
Map directions Map directions Map directions Map directions
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
|  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.