8016 Selma Avenue, Los Angeles, CA 90046

Property Description

First time on the market in over 65 years! This spectacular French Normandy courtyard style building has been held by the same family through 7 decades. Prize location, just 2 blocks from the legendary Chateau Marmont, at the east entry of the Sunset Strip. 8 generously proportioned units comprised of 4 -2 bedroom/ 2bath townhouse style units and 4- 1 bedroom/1 bath units sited on a lot of over 14000 square feet! Character abounds! Original stained glass living room windows, kitchens with floor to ceiling tiled walls, decorative fireplace mantles and iron work, warm original hardwood flooring in excellent condition, magnesite stairways. All units have their own rear service entrance as well as laundry hook-ups. Built in 1937, only 5 years after the Chateau was converted to a hotel, the history in these walls is palpable! Lovingly maintained, through the years. All of the main electrical boxes have been upgraded, 6 of the 8 units have had their interior panels upgraded. 80% of the plumbing supply lines have been replaced. 2 4-car garages at the rear with a remote operated gate offer ample and secure off-street parking for each unit. Income of almost $200,000 per year, yet room to grow by 50% with these 8 units alone, to say nothing of potential additional development opportunities afforded by the oversized lot! This is a trophy building in an iconic and upscale location waiting to reward your stewardship with income and genuine pride of ownership through the next several decades. Call agent for details.