8570 Holloway Drive, West Hollywood
West Hollywood Home For Sale
*** $200,000 PRICE REDUCTION --- $650,000 REDUCTION FROM ORIGINALLY LISTED PRICE --- MOTIVATED SELLER *** 8570 Holloway Drive presents a unique and generational investment opportunity in the heart of West Hollywood, where prime location meets untapped potential. This charming triplex, situated one block south of the iconic Sunset Strip at the intersection of Sunset Blvd and La Cienega Blvd, offers investors a blank canvas with immense promise. Nestled on a 7,708 SF lot zoned R4B, 8570 Holloway currently comprises a front duplex and a vacant one-bedroom above the garages, presenting a unique opportunity for income generation while pursuing further development. The true allure of this property lies in its development potential. According to a BrickWork development report, the future owner can develop up to 8 units "by right" or 14 units by utilizing density bonus incentives (buyer to verify). In addition, the existing front duplex presents the perfect win-win opportunity. It is well-maintained by current ownership, allowing the future owner to generate income while undergoing the planning and development process. The front duplex features (1) two-story 3-bdrm. and 2.5-bath unit and (1) two-story 2-bdrm. and 2.5-bath unit. Each charming residence features spacious living and dining rooms perfect for entertainment, skylights and wrap-around picture windows that allow for plenty of natural light, a shared deck overlooking a lush and well-landscaped backyard, and an office space. Please note, the front duplex may be delivered VACANT upon COE. 8570 Holloway is a rare find in the highly sought-after West Hollywood market. With its prime location, untapped potential, and iconic allure of West Hollywood, the property combines immediate income potential with the promise of substantial future gains through development.
Property Details
Additional Information
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- City:
- West Hollywood
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- County:
- Los Angeles
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- Zip:
- 90069
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- MLS® #:
- 24363935
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- Bedrooms:
- 6
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- Bathrooms:
- 5
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- Square Ft:
- 4,003
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- Lot Size:
- 0.18
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- Levels:
- Two
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- Garages:
- 3
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- HOA Dues:
- $
Price Change History for 8570 Holloway Drive, West Hollywood, (MLS® #24363935)
| Date | Details | Price | Change |
|---|---|---|---|
| Price Reduced (from $3,500,000) | $3,300,000 | $200,000 (5.71%) |
Based on information from California Regional Multiple Listing Service, Inc. as of August 4th, 2024 at 12:10pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.