5.4% In-Place Cap Rate ! 9 Units Steps to Prime Hancock Park! Amazing Income Property Offering - Beautifully Renovated 9 unit - 5.4% In-Place Cap close to Prime Hancock Park! Walk to Pizzeria Mozza, Sushi Palace and Tesla's new diner & drive-in theatre on Santa Monica Boulevard. We are very pleased to exclusively offer for sale The Siegel, a beautifully curated collection of 9 apartment units perfectly located in the Heart of Hollywood's Media District. Steps from idyllic Larchmont Village and storied Hancock Park, as well as shops and restaurants on Highland and Melrose Avenue, 6708 Willoughby Avenue is a beautifully remodeled nine unit apartment community offering an investor an extremely strong income producing asset in one of the desirable rental markets across Los Angeles. Property features updated plumbing and electrical, new windows, freshly painted, new electrical panels, washer/dryer hookups in all units. The main panel has been upgraded to 400 amps with completely new wiring, including 10 new meters (9 units plus 1 house) have been installed. Units feature high-end finishes including new appliances, high end countertops, recessed lighting, and so much more. Offered at a 5.4% cap rate and a 13 GRM, 6708 Willoughby is an excellent income producing 9 unit apartment building in an extremely hot rental market surrounded by high end homes and primed to continue to appreciate and grow in rental income over time. The Siegel offers a 6.4% cap rate at market rents for all units, with additional rent growth in the future! Don't miss this stable income producing asset that holds significant income upside as rents grow.
This property is $3.0M more than the Median Sold Price and $177/SqFt less than other homes in Los Angeles, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #23339499
Listing Office:
Office Name: Dana Brody
Office Phone: (818) 212-2757
Listing Agent: Dana Brody
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 5/2/2024, 8:25:19 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Feb 19, 2019
Feb 19, 2019Home Sold
$1,700,000
Feb 19, 2019
Feb 19, 2019Home Sold
$1,700,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$21,760
$1,751,963
2020
$5,871
$1,734,000
2019
$5,747
$430,615
2018
$5,637
$422,173
2017
$5,637
$413,896
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
8
/10
Melrose Avenue Elementary School
731 N Detroit St
Distance between this listing and this school0.54 miles
Public Magnet Grades KG-6
5
/10
Vine Street Elementary School
955 Vine St
Distance between this listing and this school0.57 miles
Public District Grades KG-6
9
/10
Academy For Enriched Sciences
6170 Lockhurst Dr
Distance between this listing and this school18.95 miles
Public Magnet Grades 1-5
Middle School
4
/10
Hubert Howe Bancroft Middle School
929 N Las Palmas Ave
Distance between this listing and this school0.13 miles
Public Magnet Grades 6-8
4
/10
Studio
2211 W Avenue 30
Distance between this listing and this school5.85 miles
Public District Grades 6-8
High School
4
/10
Fairfax Senior High School
7850 Melrose Ave
Distance between this listing and this school1.35 miles
Public Magnet Grades 9-12
8
/10
Math, Science, & Technology Magnet Academy at Roosevelt High School
456 S Mathews St
Distance between this listing and this school7.91 miles
Public Magnet Grades 9-12
8
/10
Daniel Pearl Journalism & Communications Magnet
6649 Balboa Blvd
Distance between this listing and this school11.89 miles
Public Magnet Grades 9-12
Assigned Schools
8
/10
Melrose Avenue Elementary School
731 N Detroit St
Distance between this listing and this school0.54 miles
Public Magnet Grades KG-6
5
/10
Vine Street Elementary School
955 Vine St
Distance between this listing and this school0.57 miles
Public District Grades KG-6
9
/10
Academy For Enriched Sciences
6170 Lockhurst Dr
Distance between this listing and this school18.95 miles
Public Magnet Grades 1-5
Assigned Schools
4
/10
Hubert Howe Bancroft Middle School
929 N Las Palmas Ave
Distance between this listing and this school0.13 miles
Public Magnet Grades 6-8
4
/10
Studio
2211 W Avenue 30
Distance between this listing and this school5.85 miles
Public District Grades 6-8
Nearby Schools
4
/10
Joseph Le Conte Middle School
1316 N Bronson Ave
Distance between this listing and this school1.25 miles
Public Magnet Grades 6-8
Assigned Schools
4
/10
Fairfax Senior High School
7850 Melrose Ave
Distance between this listing and this school1.35 miles
Public Magnet Grades 9-12
8
/10
Math, Science, & Technology Magnet Academy at Roosevelt High School
456 S Mathews St
Distance between this listing and this school7.91 miles
Public Magnet Grades 9-12
8
/10
Daniel Pearl Journalism & Communications Magnet
6649 Balboa Blvd
Distance between this listing and this school11.89 miles
The neighbors living near this home have an average income of $106,804. The majority of Los Angeles, CA residents have income $200k+ annually. The majority of families are single, no kids. Residents of this area typically have post secondary degree education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 6708 Willoughby Ave
What is the listing price of this property?
The listing price of 6708 Willoughby Ave property is $3,999,999.
What type of property is this?
The property 6708 Willoughby Ave is a house located in Los Angeles, California, 90038.
Is this property for sale now?
Active Listing: 6708 Willoughby Ave is For Sale (Active/New) which means the seller is accepting offers.
What are the assigned schools for this property?
The assigned schools for 6708 Willoughby Ave are: Melrose Avenue Elementary School: GreatSchools Rating 8/10Vine Street Elementary School: GreatSchools Rating 5/10Academy For Enriched Sciences: GreatSchools Rating 9/10Hubert Howe Bancroft Middle School: GreatSchools Rating 4/10Studio: GreatSchools Rating 4/10Fairfax Senior High School: GreatSchools Rating 4/10Math, Science, & Technology Magnet Academy at Roosevelt High School: GreatSchools Rating 8/10Daniel Pearl Journalism & Communications Magnet: GreatSchools Rating 8/10
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $21,760 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on February 19, 2019 for $1,700,000. (source: MLS/tax record).
How many bedrooms and bathrooms does this property have?
The property at 6708 Willoughby Ave has 10 bedrooms and 9 bathrooms.
What is the square footage of this property?
The property 6708 Willoughby Ave is 8,784 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 6708 Willoughby Ave is 1924.
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This home is located at 6708 Willoughby Ave in Los Angeles, CA and zip code 90038 in the Central LA neighborhood. This 8,784 square foot home, which was built in 1924, sits on a 0.17 acre lot. Features: 10 bedrooms, 9 bathrooms. It has been listed on Rocket Homes since December 14, 2023 and is currently priced at $3,999,999.
Over 701 listings were sold over their listed price in April 2024 in Los Angeles, CA. In the same period over 629 listings were sold below the listed price and 204 listings were sold for the listed price. The number of listings in Los Angeles, CA increased by 14.9% between March 2024 and April 2024. While the average time on the market in April 2024 was 34 days, the median list price was $986,427.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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