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Los Angeles, CA
Price Upon Request
Josh Altman Commercial has teamed up with Simon Shorland Development and are proud to bring to market the property at 1908 – 1916 Hillcrest Road Nestled in the hills just above the famed Magic Castle and Dolby Theater resides a dreamlike secluded property. This exclusive gated community features updated stand-alone Victorian and Craftsman bungalows surrounded by perfectly manicured gardens, lush foliage, and tall trees. With the heart of Hollywood sitting just beyond your gate, the tranquil serenity and privacy of the grounds, make this a truly exceptional piece of land unlike anything else in Los Angeles. Each unit has been newly remodeled but retains it's authentic characterizes with hardwood floors, ornate ceilings, and fantastic fireplaces. Modern updates include Central air, heating, and all new kitchen appliances.
If that's not enough this would make a great opportunity for redevelopment. Sitting just under half an acre, a feasibility stage 2 has been done which shows up to 25 units can be built on the land. Property will be delivered Vacant for developers.
With the property being in such prestigious condition it would make an ideal location for corporate rentals (reaching nearly a 6% Cap) as entitlements are pursued. Located just north of Franklin and Highland this magical place is one of a kind. Add this to any portfolio knowing there is security in your investment.
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