Residential Income In Los Angeles

Hollywood Hills Treasure: A Three-Unit Spanish Colonial Gem Beneath the Hollywood Sign. Perched on a quiet, tree-lined cul-de-sac in the Hollywood Hills, this exceptional 1924 Spanish Colonial property offers a rare opportunity to own a distinctive piece of authentic Hollywood history. Built by renowned sculptor Salvatore Scarpitta, the property is itself a work of art, evident in its remarkable handcrafted detailsfrom the whimsical sculptural faces adorning the faade to graceful arched openings and architectural flourishes that give the building its unmistakable character. The property consists of three residences: two charming one-bedroom apartments and a spacious two-bedroom, two-bath upper rear home. Each residence has its own personality and character, blending period architecture with improvements made over the years an is totally private from each other. Arched openings, built-in shelving, distinctive fireplaces, original hardwood floors and large windows preserve the warmth and craftsmanship of an earlier era, while updated kitchens and baths in select areas provide modern-day comfort. Private patios, mature trees and hillside surroundings create a peaceful retreat remarkably removed from the energy of the city below. The lush, established landscaping lends the property an almost European sensibility, providing privacy, shade and an intimate residential atmosphere rarely found in a multi-unit property. Adding to its appeal are three separate garages and additional parking, providing an important amenity in the Hollywood Hills without detracting from the property’s historic character. Over the decades, this storied property has reflected the creative spirit of Hollywoodan intimate hillside setting whose architecture, craftsmanship and bohemian character recall an earlier era of artists, actors and visionaries. For an owner-occupant, the property offers the possibility of eventually creating a truly exceptional personal residence while retaining income from the additional units. For an investor, it represents an opportunity to acquire an architecturally distinctive three-unit property in one of Los Angeles’ most recognizable and enduring neighborhoods. All three residences are currently tenant occupied and subject to the City of Los Angeles Rent Stabilization Ordinance (RSO). The beautiful upper rear two-bedroom home is occupied by a long-term tenant and will require substantial cosmetic restoration to realize its full potential. Certain photographs of this residence have been digitally enhanced to illustrate its potential appearance following renovation and should not be interpreted as depicting its current condition. More than simply an income property, this is a rare opportunity to acquire a tangible connection to the architecture, artistry and history of Old Hollywoodjust beneath the Hollywood Sign.