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1216 N La Cienega Boulevard

West Hollywood, CA 90069
  • $10,995,000
  • STATUS: Active
  • ON SITE: 104 Days
  • ID#: 24404213
UPDATED: 44 min ago
$10,995,000
  • 13
    BEDS
  • 0.35
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 17,282
    SQFT
  • $636
    $/SQFT
Type:
Multi-Family
Built:
1928
County:

School Ratings & Info

Listing Agent(s): Cory Weiss of Douglas Elliman (310-595-3888)


Description

Introducing an exceptional investment opportunity: Empire Residences, a testament to vintage architectural splendor situated in the heart of West Hollywood's prestigious Courtyard Thematic District. Built in 1928 by renowned architect William Hauptman, this historic property boasts 14 units spread across two floors, offering one Executive Studio, 9 one-bedroom and 4 one-bedroom plus den floor plans ranging from 1,000 to 1,300 square feet. Steeped in rich history, Empire Residences embodies Hauptman's homage to Japanese-style architecture, paying tribute to the Emperor of Japan with its highly stylized pagoda-like structure. Original design elements such as decorative banding, corbels, and metal cresting adorn the exterior, while peaked and undulating gables, wood window grilles, and wood-frame large picture windows with arched headers capture the essence of a bygone era. Wood balconies, panel doors with hammered doorknobs, hand-finished plaster walls, antique lanterns, and decorative Japanese metal relief insets further enhance the property's allure. Nestled amidst lush greenery, Empire Residences offers a tranquil retreat from the hustle and bustle of Los Angeles, yet remains conveniently located just moments away from the vibrant segment of the Sunset Strip. The interiors seamlessly blend historic charm with modern convenience, with many units fully updated to include their own washer/dryer, beautiful new hardwood floors, high ceilings, stainless steel appliances, and a comprehensive security system. Moreover, seize the opportunity to maximize income potential with three units currently paying significantly below market value. With secured underground parking adding to the property's appeal, investors will appreciate the potential for increased revenue streams. Notably, Empire Residences benefit from its designation as a Historical Property, qualifying for the Mills Act and offering a substantial reduction in property taxes. No ULA as well. Don't miss out on the chance to own this magnificent income property in prime West Hollywood. Embrace the prestige and profitability of Empire Residences, where timeless charm meets lucrative investment potential.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-11-01T17:38:26.547. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or CFC Realty, Inc. Licensed in the State of California, USA.
www.cfc-realty.com/homes/152807422
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1216 N La Cienega Boulevard West Hollywood, CA 90069

  • Price: $10,995,000
  • Status: Active
  • On Site: 104 Days
  • Updated: 44 min ago
  • ID#: 24404213
13
Beds
0
Baths
0
½ Baths
0.35
Acres
17,282
SQFT
$636
$/SQFT
1928
Built
Neighborhood:
C10 - West Hollywood Vicinity
County:
Los Angeles
Area:
C10 - West Hollywood Vicinity
Property Description
Introducing an exceptional investment opportunity: Empire Residences, a testament to vintage architectural splendor situated in the heart of West Hollywood's prestigious Courtyard Thematic District. Built in 1928 by renowned architect William Hauptman, this historic property boasts 14 units spread across two floors, offering one Executive Studio, 9 one-bedroom and 4 one-bedroom plus den floor plans ranging from 1,000 to 1,300 square feet. Steeped in rich history, Empire Residences embodies Hauptman's homage to Japanese-style architecture, paying tribute to the Emperor of Japan with its highly stylized pagoda-like structure. Original design elements such as decorative banding, corbels, and metal cresting adorn the exterior, while peaked and undulating gables, wood window grilles, and wood-frame large picture windows with arched headers capture the essence of a bygone era. Wood balconies, panel doors with hammered doorknobs, hand-finished plaster walls, antique lanterns, and decorative Japanese metal relief insets further enhance the property's allure. Nestled amidst lush greenery, Empire Residences offers a tranquil retreat from the hustle and bustle of Los Angeles, yet remains conveniently located just moments away from the vibrant segment of the Sunset Strip. The interiors seamlessly blend historic charm with modern convenience, with many units fully updated to include their own washer/dryer, beautiful new hardwood floors, high ceilings, stainless steel appliances, and a comprehensive security system. Moreover, seize the opportunity to maximize income potential with three units currently paying significantly below market value. With secured underground parking adding to the property's appeal, investors will appreciate the potential for increased revenue streams. Notably, Empire Residences benefit from its designation as a Historical Property, qualifying for the Mills Act and offering a substantial reduction in property taxes. No ULA as well. Don't miss out on the chance to own this magnificent income property in prime West Hollywood. Embrace the prestige and profitability of Empire Residences, where timeless charm meets lucrative investment potential.
Exterior Features

Parking Features Electric GateGuestPrivate Parking Total 17 Pool Features None Pool Private YN No Spa Features None Spa YN No

Interior Features

Appliances DishwasherRefrigeratorDryerWasher Cooling Central Air Cooling YN Yes Heating Central Heating YN Yes

Property Features

Association YN No Cap Rate 4.21 Gross Income 581516 Levels Multi/Split Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 462545 New Construction YN No Rent Control YN Yes Security Features Security GateKey Card Entry Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 0 Zoning WDR4*



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-11-01T17:38:26.547. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or CFC Realty, Inc. Licensed in the State of California, USA.
 
https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_373084683-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_373084683-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_373084683-2.jpg
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CFC Realty, Inc
931 Pueblo Drive
Lake Havasu City AZ, 86406
Listing Agent(s): Cory Weiss of Douglas Elliman (310-595-3888)