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1047 N Sierra Bonita Avenue

West Hollywood, CA 90046
  • $4,800,000
  • STATUS: Active
  • ON SITE: 50 Days
  • ID#: SR21189871
UPDATED: 71 min ago
$4,800,000
  • 0
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1955
County:

School Ratings & Info

Description

Vacant Value Add 11 units! Once in a lifetime 100% Vacant 9 unit building with Approved Plans to convert it to an 11 unit building in Prime West Hollywood priced at only 453k/door for vacant units. Value add opportunity with a huge upside to 5.8% Cap Rate and 13.1 GRM after renovations. Excellent location minutes from The Grove, Sunset Strip, and Beverly Hills. Approved plans to create 2 new units within the existing building footprint. Potential to reconfigure the layouts to create additional beds and baths to have a more favorable unit mix and maximize rents. Please see Financials & approved conversion plans 2 new units in the Docs section. Price/Unit, Cap Rate, & GRM are based on Total Price for sake of conservatism, which includes construction costs of 2 new units. Individually metered for Gas & Electricity.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-17T08:25:24.643. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.
www.therealestategirl.com/homes/120897054
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1047 N Sierra Bonita Avenue West Hollywood, CA 90046

  • Price: $4,800,000
  • Status: Active
  • Updated: 71 min ago
  • ID#: SR21189871
0
Beds
0
Baths
0
½ Baths
0.15
Acres
1955
Built
Neighborhood:
C10 - West Hollywood Vicinity
County:
Los Angeles
Area:
C10 - West Hollywood Vicinity
Property Description
Vacant Value Add 11 units! Once in a lifetime 100% Vacant 9 unit building with Approved Plans to convert it to an 11 unit building in Prime West Hollywood priced at only 453k/door for vacant units. Value add opportunity with a huge upside to 5.8% Cap Rate and 13.1 GRM after renovations. Excellent location minutes from The Grove, Sunset Strip, and Beverly Hills. Approved plans to create 2 new units within the existing building footprint. Potential to reconfigure the layouts to create additional beds and baths to have a more favorable unit mix and maximize rents. Please see Financials & approved conversion plans 2 new units in the Docs section. Price/Unit, Cap Rate, & GRM are based on Total Price for sake of conservatism, which includes construction costs of 2 new units. Individually metered for Gas & Electricity.
Exterior Features

Lot Features 0-1 Unit/Acre Number Of Separate Electric Meters 11 Parking Total 10 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls

Property Features

Additional Parcels YN No Cap Rate 5.8 Common Interest None Community Features Gutter(S)Sidewalks Contingency None Electric Expense 1600 Fuel Expense 100 Garage YN Yes Gross Income 359670 Gross Scheduled Income 381000 Insurance Expense 2896 Land Lease YN No Laundry Features Laundry Room Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Maintenance Expense 2200 Net Operating Income 289374 New Construction YN No New Taxes Expense 57600 Number Of Separate Gas Meters 11 Number Of Separate Water Meters 1 Number Of Units Leased 0 Operating Expense 80196 Pest Control Expense 400 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 1600 Water Sewer Expense 3300 Water Source Public Zoning Wdr3c*

Listing provided courtesy of Alexander Yerekhman of Century 21 Hollywood


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-17T08:25:24.643. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.
 
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