Property Detail

Description

7063 Lanewood Avenue is a multifamily apartment building located in the heart of Central Hollywood, one of Los Angeles' most transit-rich, high-demand rental submarkets. Situated just steps from the Hollywood/Highland Metro station and within immediate proximity to Hollywood Boulevard, Sunset Boulevard, and the 101 Freeway, the property offers tenants an unmatched combination of walkability, urban convenience, and connectivity to major entertainment, employment, and lifestyle corridors. The surrounding area includes Runyon Canyon, the Hollywood Bowl, and a dense concentration of dining, nightlife, and retail, all of which contribute to sustained, year-round rental demand from a deep and diverse tenant pool. Central Hollywood is characterized by limited developable land, significant barriers to new construction, and a persistently undersupplied rental market conditions that support long-term rent growth and asset appreciation.The property is an 18-unit Mediterranean-style apartment building comprising approximately 16,926 square feet of improvements on an 8,750-square-foot lot. The unit mix consists of six studio units and twelve one-bedroom / one-bath units a tenant-friendly configuration well suited to the young professionals, creatives, and entertainment industry workers who drive rental demand in this submarket. The building is fully occupied, providing a stabilized income stream with upside potential as future turnover allows rents to be brought to market over time. With a Walk Score of 95, a premier Hollywood address, and a proven rental profile in a supply-constrained corridor, 7063 Lanewood Avenue represents a compelling opportunity to acquire a well-located, fully leased multifamily asset with long-term appreciation potential in one of Los Angeles' most iconic and consistently in-demand residential neighborhoods.