8686 W Olympic Blvd new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90035
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,213 sqft
Price per Sqft $354
MLS Listing ID 25546199
Bedrooms 3
Year Built 1926
Lot Size 7,432 Sqft
Acres 0.1706
Property Sub-Type Multi-Family
Property Description
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.
Location
State CA
County Los Angeles
Area Beverly Center-Miracle Mile
Zoning LAR3
Rooms
Other Rooms None
Interior
Heating Wall
Cooling Wall Unit(s)
Equipment None
Exterior
Parking Features Carport
Building
Level or Stories Two
Others
Special Listing Condition Standard