7056 Lanewood Avenue is a 22-unit apartment community in Hollywood (90028). The offering offers investors a unique and rare opportunity to acquire an irreplaceable asset with strong in-place metrics and meaningful rental upside in one of LA's most dynamic and stable markets. 7056 Lanewood Avenue was built in 1953 and consists of 11,452 square feet of improvements. The unit composition features an attractive mix of Ten (10) spacious 1-Bedroom Units and Twelve (12) Studio Apartments. The property is sited on a +/- 14,977 square foot parcel, zoned LAR4. The property is well-parked, with 17 parking spaces, and is not on the list of LA City mandatory seismic retrofit. Tenants and future investors will appreciate this well-maintained asset, featuring an attractive courtyard and lush landscaping. Additional amenities include a secure entry with intercom gate access, gated parking, and on-site washer/dryer. 7056 Lanewood Avenue is master-metered for gas and electrical utilities, which currently allows an annual 5% rent increase. Additionally, the Ratio Utility Billing System (RUBs Program) is already in place for all incoming residents. Lanewood Avenue is a quiet tree-lined street near Hollywood employers and attractions. With its prime location in Hollywood, 7056 Lanewood is an outstanding rental location for residents looking for immediate access to major Hollywood employers, services, and entertainment venues. The proximity to world-class neighboring venues makes this an ideal investment for apartment operators seeking a stable investment opportunity and long-term wealth preservation and appreciation.
Property Details
Property Features
Property Information:
Year Built: 1953
Stories: 2
Living Area: 11,452 SqFt
Listing Office:
Office Name: KW Commercial Studio City
Office Phone: (818) 432-1500
Listing Agent: Nick Astrupgaard
Interior Features
Interior Information:
Flooring Type: Wood
Bedroom and Bathroom Information:
Total Bedroom Count: 10
Lot Features
Lot Information:
Lot Size: 0.34 Acres
Other
Directions Information:
Directions: Prime Hollywood Location, Near West Hollywood, and Neighboring Employers and Attraction.
Price Information
Listing Price Info
Price Summary:
List Price: $4,595,000
Price Per SqFt: $401/SqFt
Tax Information:
Annual Amount: $6,142
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Los Angeles, CA.
This property is $3.5M more than the Median Sold Price and $240/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: #24391989
Listing Office:
Office Name: KW Commercial Studio City
Office Phone: (818) 432-1500
Listing Agent: Nick Astrupgaard
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: 11/17/2024, 5:20:51 PM 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
Aug 02, 2021
Aug 02, 2021Home Sold
$4,100,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$6,142
$355,115
2020
$6,007
$344,071
2019
$5,788
$337,325
2018
$5,647
$330,712
2017
$5,647
$324,228
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.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
4
/10
Gardner Street Elementary
7450 Hawthorn Ave
Distance between this listing and this school0.50 miles
Public District Grades PK-5
9
/10
Melrose Avenue Elementary School
731 N Detroit St
Distance between this listing and this school1.02 miles
Public District Grades KG-5
5
/10
Vine Street Elementary
955 Vine St
Distance between this listing and this school1.20 miles
Public District Grades KG-6
Nearby Schools
4
/10
Bancroft Middle School
929 N Las Palmas Ave
Distance between this listing and this school0.85 miles
Public District Grades 6-8
6
/10
Laurel School
925 N Hayworth Ave
Distance between this listing and this school1.38 miles
Public District Grades KG-8
4
/10
Joseph Le Conte Middle School
1316 N Bronson Ave
Distance between this listing and this school1.50 miles
Public District Grades 6-8
Nearby Schools
6
/10
Hollywood High School
1521 N Highland Ave
Distance between this listing and this school0.18 miles
Public District Grades 9-12
8
/10
Larchmont Charter
1265 N Fairfax Ave
Distance between this listing and this school1.12 miles
Public Charter Grades KG-12
6
/10
Fairfax High School
7850 Melrose Ave
Distance between this listing and this school1.46 miles
The neighbors living near this home have an average income of $24,508. The most common annual income of people living in Los Angeles, CA is less than $35k. Residents typically live in single, no kids family. Residents of this area typically have post secondary degree education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 7056 Lanewood Ave
What is the listing price of this property?
The listing price of 7056 Lanewood Ave property is $4,595,000.
What type of property is this?
The property 7056 Lanewood Ave is a house located in Los Angeles, California, 90028.
Is this property for sale now?
Active Listing: 7056 Lanewood Ave is For Sale (Active/New) which means the seller is accepting offers.
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $6,142 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on August 2, 2021 for $4,100,000. (source: MLS/tax record).
How many bedrooms and bathrooms does this property have?
The property at 7056 Lanewood Ave has 10 bedrooms and 22 bathrooms.
What is the square footage of this property?
The property 7056 Lanewood Ave is 11,452 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 7056 Lanewood Ave is 1953.
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This home is located at 7056 Lanewood Ave in Los Angeles, CA and zip code 90028 in the Central LA neighborhood. This 11,452 square foot home, which was built in 1953, sits on a 0.34 acre lot. Features: 10 bedrooms, 22 bathrooms. It has been listed on Rocket Homes since May 16, 2024 and is currently priced at $4,595,000.
Over 598 listings were sold over their listed price in October 2024 in Los Angeles, CA. In the same period over 753 listings were sold below the listed price and 191 listings were sold for the listed price. In October 2024 in Los Angeles, CA there were 11.2% more homes for sale than in September 2024. In October 2024, listings were on the market for 38 days. During the same period, the median list price in this real estate market was $1,023,474.
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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