960 Larrabee St | Larrabee Manor

Larrabee Manor
960 Larrabee St #303
West Hollywood CA 90069

Larrabee Manor is an 86 unit, courtyard style, midrise condo located in the Norma Triangle Neighborhood of West Hollywood. The Building was built in 1963 as apartments and converted to condos in 1987. The unit mix in this condo complex is 90% 1 bedrooms and Studios, so this is a great building for buyers looking for well located/affordable West Hollywood 1 bedroom condo or for condo investors, since this building’s CCRs and  HOA have a very investor friendly leasing policy. HOA’s are only $350/mo. which is the lowest you will find in the area (HOAs include basic Direct TV and internet too!).

Location

Conveniently located between Santa Monica BLVD and Sunset, you can walk to either location. West Hollywood’s Santa Monica BLVD is just steps from this condo for lots of nightlife, restaurants, and Trader Joes. The Newly Opened Shake Shack has become an instant neighborhood hit! For the past decade the Abbey has been the #1 nightlight life destination in the area, and it was recently expended with the “Chapel”.

Real Estate

Larrabee Manor is about Economy. Economy of size, economy of expense, economy of home owner’s dues.  This building offers one of the best locations at the most affordable price. 

 Record Sale Price: $550,000 9/25/2013

Turnover Ratio: 5%

Appreciation: 4% – 5% (if updated)

All of the floorplans are single story. There is no central HVAC, so Air is a Wall Unit (sorry Central HVAC may not be installed). Some owners have upgraded to split systems. Kitchens have electric stoves. Dining Rooms are a bit small at about 8′ x 8′, they seat 4. The 1 Bedrooms have a wall and full baths, where as the studios have open floorplan. Kitchens are galley style with Dishwasher, Stove, Microwave. Some owners have added a washer and dryer in the kitchens, otherwise there is a community laundry room. There are two elevators in the building, and numerous stairs. The hallways are open air in some areas and enclosed in others. Units facing Larrabee (West) have huge balconies. Units that face the courtyard have normal balconies. The units that face out from the courtyard have no balconies. One thing I really like about these condos is that they have a lot of windows- the dining room, living room, and bedroom all have a window. 

CONDO MIX:

(40) Studios
450 sqft to 700 sqft
$350,000-$400,000

(40) 1 Br
700 sqft to 800 sqft
$400,000 – $450,000

(6) 2BR
900 sqft to 1,100 sqft
$500,000-$550,000

Amenities

Heated Pool (year round)

Roofdeck (Great Views!)

Dog Run

Storage in Garage (some condos have an overhead locker + ground storage bin, others just ground bin, and a few have no garage storage)

Parking & Laundry

1 Parking Space per condo regardless of size in gated parking garage. There is guest parking??

Laundry is in a laundry room with coin operated machines. Some owners have installed laundry inside their condos.

Home Owners Association

Board Member’s Website: http://www.960updates.com/

HOA dues Monthly Cost? $350/mo.

HOA dues cover? Water & Trash, Building Insurance, Basic Direct TV package and Internet, Reserves, 

HOA does exclude?

Special Assessments? Yes, currently a $1,500 per unit special assessment to redo the hallways. The board is considering two other assessments: Elevator Modernization (2K per unit) and Earthquake insurance ($40/mo.) 

Pet Policy? 2 Pet limit. Dogs may not be over 20 inches high full grown and be of a “gentle disposition”.

Rental Policy? No restrictions

EQ Insurance? No

Building Reserves?

Can you have BBQ on balcony?

Property Management company?

First Service Residential
https://www.fsresidential.com/

6080 Center Drive, Suite 210
Los Angeles, CA 90045

Phone: 310-574-7426 or 310-981-9909

About the Author

Leave a Reply