Property
Beds
3
Full Baths
None
1/2 Baths
None
Year Built
1926
Sq.Footage
6,213
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 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.
Features & Amenities
Interior
-
Total Bedrooms
3
Area & Lot
-
Lot Size(acres)
0.1706
-
Property Type
Residential Income
Exterior
-
Garage
No
-
Parking
Carport
Financial
-
Sales Price
$2,200,000
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Location
County
Los Angeles
Elementary School
Middle School
High School
Listing Courtesy of Elliot Hassan , NorthMarq Realty Services, Inc.
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