12109 Hoffman Street

Description

(50% VACANT / OWNER USER POTENTIAL / ADU POTENTIAL) As the exclusive listing agent, we are pleased to present the opportunity to acquire The Hoffman, a unique *Fourplex property located in the highly sought-after Studio City submarket. This prime property is ideally positioned near major landmarks such as Radford Studio, upscale businesses, trendy restaurants, boutiques, and Ventura Place, offering a high-quality living experience in one of Los Angeles' most desirable neighborhoods. The Hoffman consists of a charming *4-unit building, originally constructed in 1928, with 2-bedroom units and stunning 1920s architectural details. The property sits on a lot size of 7,201 SF and offers a large building footprint of 4,538 SF, zoned LAR3-1-RIO, providing ample potential for future re-development or addition of ADU's.The Hoffman presents a rare opportunity to acquire a property in one of Studio Citys most highly desirable luxury areas, with potential for owner-user use, ADU development, and/or redevelopment. Originally constructed as a *Fourplex, the property was converted into a *Triplex in the 1970s by removing a small wall between the two upstairs units. This wall has since been reinstated, and both vacant upstairs units have undergone recent updates and renovations without permits. While the process to revert the property back to a *Fourplex was initiated, it remains incomplete. The buyer to verify the status of the permitting process and redevelopment potential. With 50% vacancy (2 of 4 units), this property provides investors with the opportunity to secure new tenants at market rents or take advantage of the owner-user potential. The detached garages at the rear of the property, which are also 50% vacant, may provide additional ADU potential"again, buyer to verify. Hoffman is ideally located in Studio City, one of Los Angeles most coveted neighborhoods, surrounded by renowned landmarks and local amenities. The property is within close proximity to Radford Studio, making it a prime location for industry professionals and creatives. Additionally, residents will enjoy the upscale businesses, high-end boutiques, and trendy restaurants that populate the area, particularly along Ventura Place. Ventura Place is known for its vibrant caf culture, stylish eateries, and local farmers market, making it a central hub for both entertainment and commerce.