6501 W Flamingo Drive,Los Angeles, CA 90038
Los Angeles, CA 90038
Description
The Flamingo Collection presents a rare opportunity to acquire a boutique portfolio of five free-standing contemporary Single-Family Homes in the heart of Los Angeles' Hollywood Media District. Built in 2019 and individually parceled with five separate APNs, each 3-bedroom, 3.5-bath residence offers approximately 1,754 - 1,822 square feet of sophisticated living space with white oak hardwood floors, custom cabinetry and closets, stainless steel appliances, in-home laundry, central HVAC, private 2-car garage and rooftop deck. Four residences are currently occupied, while one has been intentionally held vacant to preserve flexibility during the sale process. At the Buyer's election, Seller can deliver the fifth residence occupied at $6,500 per month, resulting in a fully occupied portfolio generating $384,000 in annual rental income. Alternatively, Seller can deliver all five residences 100% vacant at close of escrow, allowing an incoming Buyer to immediately implement its preferred investment strategy. Built in 2019, the homes are exempt from the City of Los Angeles Rent Stabilization Ordinance (RSO), providing additional flexibility for future rental operations. Five individual APNs further create multiple potential investment and exit strategies, including traditional long-term leasing, corporate/executive housing, furnished rentals, individual home sales, or a combination of approaches. With the ability to acquire the portfolio fully occupied with immediate income, newer construction, RSO-exempt status and multiple future exit strategies, The Flamingo Collection is particularly well suited for a 1031 Exchange buyer seeking a high-quality replacement asset with immediate income and long-term flexibility. Attractive Seller financing available. Sale includes the following APN's: 5533-022-045, 046, 047, 048, 049.
Details
| MLS # | 26873909 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | New Construction |
| Status | Active |
| Year | 2019 |
| Days On Site | 15 |
| Listing Provided By | Sotheby's International Realty | Allen Roth |
Features
| Bed(s) | 15 |
|---|---|
| Bath(s) | 20 |
| SQ Feet | 8,999 |
| Garage | 10 |
| Story(s) | 3 |
| Units | 5 |
| Building(s) | 5 |
| Zoning | LAR3 |
| Acreage | 0.15 |
| Property View | Yes |
Interior
| Cooling | Central Air |
|---|---|
| Heating | Central, Zoned |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Interior Features | High Ceilings, Multiple Staircases, Recessed Lighting, Storage, Walk In Closets |
| Window Features | Custom Coverings, Double Pane Windows |
| Appliances | Dishwasher, Gas Cooktop, Disposal, Gas Oven, Microwave, Oven, Refrigerator, Dryer, Washer |
| Fireplace Yes / No | No |
Exterior
| Security Features | Fire Sprinkler System, Security Gate, Gated Community, Key Card Entry |
|---|---|
| Construction Materials | Synthetic Stucco |
| Foundation Details | Slab |
Parking
| Attached Garage Yes / No | Yes |
|---|---|
| Parking Features | Controlled Entrance, Covered, Door Multi, Direct Access, Garage, Garage Door Opener, Private, Side By Side |
| Garage Yes / No | Yes |
Utilities
| Sewer | Other |
|---|
Location
| Community Features | Gated |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90038 |
| Area | C20 Hollywood |
| Listing VS Median (in 90038) | |
Price: $6,500,000 low | high Med: $577,500 sqft: 8,999 low | high Med: 830 $ / sqft: $722 low | high Med: $696 On site: 15 low | high Med: 29 | |
Market Activity 90038
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90038 |
| Area | C20 Hollywood |
| Listing VS Median (in 90038) | |
Price: $6,500,000 low | high Med: $577,500 sqft: 8,999 low | high Med: 830 $ / sqft: $722 low | high Med: $696 On site: 15 low | high Med: 29 | |