1550 Wilcox Ave Los Angeles, CA 90028

Property Details for 1550 Wilcox Ave

Year built

1925

Construction

TILT-UP CONCRETE

Lot size

0.53 lot acres

Property size

25,770 SF

Zone code

LAC4

Property type

Schools

APN

5546-013-002

APU

5546013002

Description

This exceptional 3-story, 35,715 square foot building, constructed in 1925 and extensively renovated in 2014, presents a unique investment opportunity in the heart of Hollywood, California. Currently operating as triple net master-leased student housing, this 68-unit property offers 144 beds, each featuring a renovated full bathroom, closet, and air conditioning. The property boasts a desirable C4-2D zoning, allowing for potential repositioning as co-living, transitional, or supportive housing, with the possibility of incorporating ground floor retail. Amenities include a secure gated compound with a guard station, a large interior courtyard, elevator, skylight, and ample common areas such as a lobby, lounge, community kitchen, dining area, computer lab/offices, business center, fitness room, and two laundry rooms. Situated on a 14,477 square foot lot (APN 5546-013-002), this property enjoys a Walk Score of 99, placing it in a vibrant neighborhood with numerous restaurants, nightclubs, and retail options. Its prime location is steps from renowned hotels, popular restaurants, and the Hollywood Walk of Fame, and offers easy access to public transportation (Metro Station at Hollywood & Vine) and major freeways (101 FWY). The property's location within an Opportunity Zone and State Enterprise Zone further enhances its investment appeal. This is an owner-user opportunity or a leased investment.