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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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Bought with Seidahl Hakimi • Avenue Realty Group
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Paul Ward
Broker Associate | License ID: 01354001
Broker Associate License ID: 01354001
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