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$ 5,495,000
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Active
1047 N Sierra Bonita AVE West Hollywood, CA 90046
6,487 Sqft Lot
UPDATED:
04/19/2023 05:34 AM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CNSR23010749
Originating Board CRISNet
Year Built 1955
Lot Size 6,487 Sqft
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
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Listed by Alexander Yerekhman • Century 21 Hollywood