Description
Offered for sale on the open market for the first time in over 60 years, 8686 West Olympic presents a rare opportunity for investors to reposition a well-maintained asset in one of Los Angeles' most supply-constrained and desirable rental markets. Current ownership has maintained the building over the years, making selective upgrades as needed, but much of the property remains in original condition giving the next owner a clear path to unlock significant value through targeted interior and exterior renovations. With a ~22% loss-to-lease on in-place rents, new ownership can capitalize on substantial upside by aligning units with the luxury expectations of a tenant base drawn to the property's proximity to Beverly Hills. The surrounding submarket is dominated by vintage, unrenovated character buildings, creating a unique opportunity to deliver a boutique product that stands out in the local rental landscape. Originally constructed in 1926, the property sits on a 7,430 SF corner lot and consists of two separate two-story walk up structures with a total of 7 (seven) on-site parking spaces. The unit mix includes one (1) Single and seven (7) 1-bedroom, 1-bath units. The building offers excellent frontage on Olympic Boulevard, lush landscaping, and underutilized common areas that could be reimagined to enhance resident experience and overall value.
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3BEDS
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0.17ACRES
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2BATHS
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01/2 BATHS
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6,213SQFT
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$354$/SQFT
School Ratings & Info
Description
Offered for sale on the open market for the first time in over 60 years, 8686 West Olympic presents a rare opportunity for investors to reposition a well-maintained asset in one of Los Angeles' most supply-constrained and desirable rental markets. Current ownership has maintained the building over the years, making selective upgrades as needed, but much of the property remains in original condition giving the next owner a clear path to unlock significant value through targeted interior and exterior renovations. With a ~22% loss-to-lease on in-place rents, new ownership can capitalize on substantial upside by aligning units with the luxury expectations of a tenant base drawn to the property's proximity to Beverly Hills. The surrounding submarket is dominated by vintage, unrenovated character buildings, creating a unique opportunity to deliver a boutique product that stands out in the local rental landscape. Originally constructed in 1926, the property sits on a 7,430 SF corner lot and consists of two separate two-story walk up structures with a total of 7 (seven) on-site parking spaces. The unit mix includes one (1) Single and seven (7) 1-bedroom, 1-bath units. The building offers excellent frontage on Olympic Boulevard, lush landscaping, and underutilized common areas that could be reimagined to enhance resident experience and overall value.
Based on information from the Combined LA/Westside Multiple Listing Service as of 2025-06-16T16:43:24.713. 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. Properties may or may not be listed by the office/agent presenting the information.