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Key Details
Sold Price $3,300,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 6,154 sqft
Price per Sqft $536
MLS Listing ID 23285527
Sold Date 10/11/23
Bedrooms 13
HOA Y/N No
Year Built 1955
Lot Size 6,669 Sqft
Property Description
Huge 500k Price Reduction! 8 Unit building with 5 fully renovated units (3 vacant) in prime West Hollywood cash flowing at an amazing 5.5% Cap Rate and 12.9 GRM from day 1! 1 Attached (1bed/1bath) RTI ADU under construction which will improve the current financials to an incredible Current 6.2% Cap Rate, 11.6 GRM and only 377k/door after completion. Additional 24% upside to 7.2% Cap Rate and 10.4 GRM on the proforma. Diverse Unit Mix of 2 (2bed/1bath), 3 (1bed/1bath+den) and 3 (1bed/1bath) units. Individually metered for Gas & Electricity. RTI Plans for 1 Attached ADU in the storage area (Under Construction) + Prelim Plans for 2 Detached ADUs over the carport. All 5 units have been completely renovated and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, stainless steel appliances, washer/dryer inside, as well as major exterior capital improvements. This property is located in the heart of West Hollywood just minutes away from the iconic Sunset Strip, Beverly Hills, and within close proximity to many hip neighborhood attractions, restaurants, bars, and shops such as Delilah, Laurel Hardware, Employees Only, Bar Lubitsch, Formosa Cafe, and more popping up all around the area.
Location
State CA
County Los Angeles
Area C10 - West Hollywood Vicinity
Zoning WDR2*
Interior
Interior Features Ceiling Fan(s)
Fireplace No
Appliance Microwave, Refrigerator
Exterior
Garage Detached Carport
Parking Type Detached Carport
Attached Garage No
Building
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5530007016
Special Listing Condition Standard
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Bought with Alex Galuz • Keller Williams Realty Calabasas