For sale 12 units apartment buildings in prime west Hollywood, California. For additional information regarding this transaction , please contact the listing agent, Michael Monempour michael.monempour@kidder.com (310) 270-8423

Posted: 01/26/2022 7:24 am | On HOMEiZ: 820 days | Updated: 2 years ago | Views: 526

Location Map

Property Type

Property status

Sold

Property Price

Asking Price

$3500000

Last Sold Price

$3500000

Last Sold Date

01/07/2022

Total Lot Size

6,202.00 Sq. Ft.

Asking Price per Sq. Ft.

$365

Total Building Size Sq. Ft.

9592

Commission Split %

Contact listing agent%

Cap Rate %

Gross Annual Income

Net Operating Income

Gross Rent Multiplier

0.00

Operating Expenses

Annual Property Tax Rate for this property

1.25%

Property tax total amount

$43750

Property Location & Description

Listing Headline

For sale 12 units apartment buildings in prime west Hollywood, California. For additional information regarding this transaction , please contact the listing agent, Michael Monempour michael.monempour@kidder.com (310) 270-8423

Rent control

Rent Control

Property Description

7949 Romaine Street, a 12-unit value-add investment property located in one of the trendiest neighborhoods of West Hollywood.Built in 1955, the 9,592 SF two-story building is comprised of (2) 2-bdrm. and 1-bath units and (10) one-bdrm. and one-bath units. Please note, 2 units will be delivered vacant upon COE. These bright and spacious units average approx. 800 SF. Additionally, the units present a significant value-add opportunity to investors, as current rents are approx. 90% below market value for nicely remodeled units in the area. 7949 Romaine Street allows investors to acquire a phenomenal multifamily building in a prime location of one of LA's hottest rental markets, while having substantial financial upside.

Location Description

Located 1 block south of Santa Monica Boulevard, the property is adjacent to some of the most popular shopping, dining and nightlife destinations along Santa Monica Blvd. and Fairfax Ave.

No. of Units

Price per Unit

$291667

Units Mix

No.

Description

No. Units

Sq. Ft.

Avg. Mo. Rent

1+1

2+1

APN / Parcel ID

5529-014-034

Zoning

WDR3C

Occupancy %

99%

No. Stories

Year Built

1955

Overall Property Condition

Good

Highlights

2 units will be delivered vacant

Prime location west Hollywood

Property Information

Sewer

Type of Sewer

Sewer System (Public)

Parking

Parking type

Off-street

On-street

# of Covered Parkings

No Data

Investment Overview

Type of use

Investor

Energy Efficiency

Energy Star Certified

How old is you cooling and heating system?

No Data

Efficiency rating

N/A

R-value

N/A

Windows single-pane?

Natural daylight

Appliances energy efficient

Roof

Neighborhood lifestyle

Lifestyle

Urban Core

More information

MLS URL of this listing to link to your own site or brokerage site

Listing Info

Listing ID: 3020

Sold

For Sale

$3,500,000

Listing Presented by

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7949 Romaine Street . Central LA , CA 90046