West Hollywood, CA 90046,1047 N Sierra Bonita AVE
West Hollywood, CA 90046,1047 N Sierra Bonita AVE
West Hollywood, CA 90046,1047 N Sierra Bonita AVE
$5,700,000
Est. payment /mo
Est.Price: ?

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6,486 Sqft Lot
SOLD DATE : 10/18/2024

Key Details

Sold Price $5,700,000

Property Type Condo

Sub Type Apartment

Listing Status Sold

Purchase Type For Sale

MLS Listing ID SR24104350

Year Built 1955

Lot Size 6,486 Sqft

Property Description

Huge 500k Price Reduction! The property is currently 100% Master Leased for the next 5 years providing a guaranteed cash flow (1 monthly check of $31,750 with 2.5% annual increases) with 0% vacancy plus all expenses paid by the tenant including management fees, utilities, interior repairs, cleaning, pest control, etc (Similar to a hassle-free NNN deal with stable income and landlord only responsible for paying property taxes and insurance). Once in a lifetime, 13 units in Prime West Hollywood that was 100% Vacated & Renovated cash flowing at an incredible 5% Cap Rate from day 1 with no management responsibilities. Priced at only 461k/door for units that have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, new Mini Split AC systems, stainless steel appliances, washer/dryer inside, as well as major exterior capital improvements. On top of that, all the major systems have been updated including roof, electrical, plumbing, windows, HVAC, soft-story, etc. The unit mix provides unparalleled versatility with 5 (2bed/1bath) units, 6 (1bed/1bath) units, and 2 (studio/1bath) units. Each unit is individually metered for gas and electricity, ensuring convenience and efficiency. Excellent West Hollywood location minutes from The Grove, Sunset Strip, and Beverly Hills.

Location

State CA

County Los Angeles

Area C10 - West Hollywood Vicinity

Zoning WDR3C*

Interior

Laundry Washer Hookup, Stacked

Exterior

Pool None

Community Features Curbs, Gutter(s), Street Lights, Sidewalks

Utilities Available Sewer Not Available

Building

Lot Description 11-15 Units/Acre

Story 2

Sewer Public Sewer, None

Water Public

New Construction No

Others

Acceptable Financing Cash to Existing Loan, Cash to New Loan

Listing Terms Cash to Existing Loan, Cash to New Loan

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Alexander Yerekhman • Century 21 Hollywood • 818-416-0309
Bought with Seidahl Hakimi • Avenue Realty Group

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Paul Ward

+1(805) 479-5004

Broker Associate | License ID: 01354001

Broker Associate License ID: 01354001

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