5601 Hollywood Blvd, Hollywood, CA 90028

Property Description

Amazing investment opportunity located in a prime tourist area right on Hollywood Blvd! This 30-unit motel has had some great capital improvements such as newer plumbing, fresh paint, upgraded phone system, security gate at the parking entrance, and a security system. Moreover, the property includes a managerial quarters complete with a single bedroom, bathroom, full kitchen, and generous living room that provides the perfect station to manage the motel. The proximity of the motel to major tourist spots such as the Hollywood Walk of Fame, Hollywood Sign, TCL Chinese Theater, Griffith Observatory and so much more ensure a consistent flow of guests to the motel day in and day out. The bounce back from the unfortunate covid shutdowns has been tremendous especially as we head into spring and prepare for the summer months. Total building sqft is approximately 11,460 and sits on an estimated 15,018 sqft lot. This motel and neighboring listing at 5611 Hollywood Blvd. (MLS# PW22056189) are part of a package deal with the potential to be sold separate of one another. Split pricing will be $8.5 million for this motel and $5.5 million for the mixed-use parcel next door. Buyer must comply with the sellers' 1031 exchange. Please call with any questions or requests for additional information.