Offered for sale on the open market for the first time in over 60 years, 8686 West Olympic presents a rare opportunity for investors to reposition a well-maintained asset in one of Los Angeles' most supply-constrained and desirable rental markets. Current ownership has maintained the building over the years, making… Read More selective upgrades as needed, but much of the property remains in original condition giving the next owner a clear path to unlock significant value through targeted interior and exterior renovations. With a ~22% loss-to-lease on in-place rents, new ownership can capitalize on substantial upside by aligning units with the luxury expectations of a tenant base drawn to the property's proximity to Beverly Hills. The surrounding submarket is dominated by vintage, unrenovated character buildings, creating a unique opportunity to deliver a boutique product that stands out in the local rental landscape. Originally constructed in 1926, the property sits on a 7,430 SF corner lot and consists of two separate two-story walk up structures with a total of 7 (seven) on-site parking spaces. The unit mix includes one (1) Single and seven (7) 1-bedroom, 1-bath units. The building offers excellent frontage on Olympic Boulevard, lush landscaping, and underutilized common areas that could be reimagined to enhance resident experience and overall value. Read Less
Courtesy of NorthMarq Realty Services, Inc. 949-717-5200
Listing Snapshot
Days Online
5
Last Updated
Property Type
Other
Beds
3
Square Ft.
6,213
Lot Size
0.17 Acres
Year Built
1926
MLS Number
25546199
30 Days Snapshot Of 90035
$1.95M
-22%
(avg) sold price
11
+22%
homes sold
66
-9%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
None
Building
6,213 sq ft, Built in 1926, Levels: Two
Cooling
Wall Unit(s)
Disclosures
None
Garage
Carport
Heating
Wall
Lot
LotAcreage: 0.1706, LotSizeArea: 7,432
Parking
TotalParking: 0
Property
NumberOfUnits: 8, Zoning: LAR3
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