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Eric Boyenga

e@boyenga.com +1(408) 506-3942

Listed by Alexander Yerekhman, DRE #01255937 • Century 21 Hollywood

$ 5,495,000

Est. payment | -/mo

6,487 Sqft Lot

Save

$ 5,495,000

Est. payment | -/mo

Save

6,487 Sqft Lot

Key Details

Property Type Commercial Multi-Residential (5 units)

Listing Status Active

Purchase Type For Sale

MLS Listing ID CNSR23010749

Year Built 1955

Lot Size 6,487 Sqft

Source CRISNet

Property Description

Huge 500k Price Reduction! Once in a lifetime, 100% Vacant Value Add 13 Units in West Hollywood priced at only 465k/door. Incredible Current Cap Rate of 5.75% Cap Rate and 12.9 GRM after renovations. 9 units with Fully Approved RTI Plans for 2 Interior ADUs (Under Construction) and RTI Plans for 2 Exterior ADUs. All interior units are under construction so buyers can complete them to their own taste and get top market rents. Most of the rough construction and heavy lifting has been done except for finishes (Electrical, Plumbing, Framing, Mechanical). Excellent West Hollywood location minutes from The Grove, Sunset Strip, and Beverly Hills. Individually metered for Gas & Electricity. Price/Unit, Cap Rate & GRM are based on Total Price for sake of conservatism, which includes the estimated remaining remodel cost of 9 units + 2 Interior ADUs at 30k/unit (330k) plus estimated construction cost of 2 Exterior ADUs and Soft-Story at 100k/unit (200k) plus estimated Exterior renovation at (40k).

Location

State CA

County Los Angeles

Area C10 - West Hollywood Vicinity

Interior

Laundry None

Exterior

Garage Spaces 5.0

Pool None

Building

Sewer None

Others

Tax ID 5530018026

Special Listing Condition Not Applicable

NEARBY SCHOOL & BUSINESS

+1(408) 506-3942

e@boyenga.com

167 S. San Antonio Road, Altos, CA

1047 N Sierra Bonita AVE West Hollywood, CA 90046