$8,700,000
We are pleased to present Verwood - a 12,946 square foot mixed-use retail and apartment building located at 4673 Hollywood Boulevard, ideally situated one parcel east of the northeast signalized corner of Hollywood Boulevard and Vermont Avenue in the heart of Los Feliz, California. Since 2017, ownership has invested more than $2 million in a comprehensive modernization program that included seismic upgrades, major electrical and plumbing enhancements, new HVAC, a roof replacement, facade improvements, extensive tenant buildouts, and the renovation of eight apartment units significantly enhancing safety, efficiency, and tenant appeal. The property is currently leased to six high-quality, internet-resistant retail tenants on triple-net leases with thirteen apartment units on the second story. The retail lineup has been carefully curated to reflect the neighborhood's creative and wellness-driven culture, with tenants including Kettl Tea (Brooklyn-based tea house), Old Gold Vegan Pizza (Sicilian-style pizza), Red Gate Bakery (critically acclaimed New York based bakeshop), Face Facial Bar (wellness spa), Studio-a-go-go (Lagree fitness studio), and Puppy Fades (dog grooming). Retail suites average just over 1,000 square feet, making them efficient and highly leasable spaces with limited tenant improvement requirements. Ten of the thirteen apartment units have been renovated, providing stabilized residential income with continued value-add potential through the repositioning of the remaining units. Some investment highlights include ~$2 Million+ in strategic capital improvements (2017-Present), 13 second story apartment units (10 of 13 units renovated), exceptional walkability & foot traffic (Walk Score of 96), 6 storefront retail "internet-resistant" food and lifestyle concepts on long term, triple-net leases, additional passive income from billboard revenue, close proximity to iconic dining & entertainment destinations.
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Listed by Mark Cianciulli with The CREM Group (323) 347-1009
Property Type
Mixed Use
Status
Active
MLS Number
26661089
Year Built
1923
Lot Size
0.31 acres