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1030 N Edinburgh Avenue

West Hollywood, CA 90046
  • $3,150,000
  • STATUS: Closed
  • ON SITE: 128 Days
  • MLS #: 21786236
Sold - 12/28/2021
$3,150,000
SOLD - 12/28/2021
  • 0
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1963
County:

School Ratings & Info

Listing Agent(s): Neema Ahadian of Marcus & Millichap (310-909-5500)


Description

A nine-unit value-add investment opportunity in the highly sought-after submarket of West Hollywood located just west of Fairfax Ave between Santa Monica Blvd and Melrose Ave. This ideal location is walking distance to many desirable destinations such as Whole Foods, Laurel Hardware, Ysabel, Employees, plus many others.The building features a desirable unit mix of seven spacious one-bedrooms (+\-700-850 SF) and two two-bedrooms (+\- 1,000 SF) with 10 parking spaces. Most of the units are leased at below market rents, providing an investor the opportunity to capture the 43% rental upside through further interior renovations as units turn (currently 2 units are vacant). The building has been well-maintained throughout the years with a new roof installed in 2021, copper plumbing throughout and a completely upgraded fire sprinkler system. Additionally, the property has a community laundry room with one washer and one dryer, is separately metered for gas and electricity and has a storage room at the rear of the property that could potentially be converted to an ADU (Buyer to verify).West Hollywood is one of the most coveted submarkets in Los Angeles and a top travel destination attracting those in entertainment, fashion, and entrepreneurship. The subject property has an incredibly high walk score of 95 with prominent dining and nightlife options to choose from. Tours by appointment only. Please do not visit the property or disturb current tenants. Thank you.

Sold by Neema Ahadian of Marcus & Millichap.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-01-28T11:26:36.32. 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 ERA CARLILE Realty Group. Licensed in the State of California, USA.
www.carlilerealty.com/homes/121637101
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1030 N Edinburgh Avenue West Hollywood, CA 90046

  • Price: $3,295,000
  • Status: Closed
  • On Site: 128 Days
  • Updated: 44 min ago
  • MLS #: 21786236
0
Beds
0
Baths
0
½ Baths
0.14
Acres
1963
Built
Neighborhood:
C10 - West Hollywood Vicinity
County:
Los Angeles
Area:
C10 - West Hollywood Vicinity
Property Description
A nine-unit value-add investment opportunity in the highly sought-after submarket of West Hollywood located just west of Fairfax Ave between Santa Monica Blvd and Melrose Ave. This ideal location is walking distance to many desirable destinations such as Whole Foods, Laurel Hardware, Ysabel, Employees, plus many others.The building features a desirable unit mix of seven spacious one-bedrooms (+\-700-850 SF) and two two-bedrooms (+\- 1,000 SF) with 10 parking spaces. Most of the units are leased at below market rents, providing an investor the opportunity to capture the 43% rental upside through further interior renovations as units turn (currently 2 units are vacant). The building has been well-maintained throughout the years with a new roof installed in 2021, copper plumbing throughout and a completely upgraded fire sprinkler system. Additionally, the property has a community laundry room with one washer and one dryer, is separately metered for gas and electricity and has a storage room at the rear of the property that could potentially be converted to an ADU (Buyer to verify).West Hollywood is one of the most coveted submarkets in Los Angeles and a top travel destination attracting those in entertainment, fashion, and entrepreneurship. The subject property has an incredibly high walk score of 95 with prominent dining and nightlife options to choose from. Tours by appointment only. Please do not visit the property or disturb current tenants. Thank you.
Exterior Features

Parking Total 10 Pool Features None Pool Private YN No Spa Features None Spa YN No

Interior Features

Appliances Gas CooktopGas RangeRefrigerator Cooling Wall/Window Unit(S) Cooling YN Yes Fireplace Features None Fireplace YN No Flooring CarpetLaminate Heating Natural Gas Heating YN Yes Interior Features Ceiling Fan(S)

Property Features

Association Fee 0 Gross Income 183247 Laundry Features Common Area Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 108086 New Construction YN No Senior Community YN No Special Listing Conditions Standard Total Actual Rent 15205 Zoning Wdr3b



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-01-28T11:26:36.32. 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 ERA CARLILE Realty Group. Licensed in the State of California, USA.
 
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ERA CARLILE Realty Group
1860 Howe Avenue, Suite 100
Sacramento CA, 95825
Listing Agent(s): Neema Ahadian of Marcus & Millichap (310-909-5500)