Description
Once in a lifetime, 100% Vacant Value Add 13 Units in West Hollywood priced at only 487k/door. Incredible Current Cap Rate of 5.5% and 13.3 GRM after renovations. 9 units with Fully Approved RTI Plans for 2 Interior ADUs + 2 Exterior ADUs (Under Construction). All units are under construction so buyers can complete them to their own taste and get top market rents. All of the rough construction and heavy lifting have 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. Potential for short-term vacation rental (Airbnb & Vrbo) to maximize income even further. 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 25k/unit (275k) plus estimated construction cost of 2 Exterior ADUs and Soft-Story at 75k/unit (150k) plus estimated Exterior renovation at (50k).
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0.15ACRES
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01/2 BATHS
School Ratings & Info
Description
Once in a lifetime, 100% Vacant Value Add 13 Units in West Hollywood priced at only 487k/door. Incredible Current Cap Rate of 5.5% and 13.3 GRM after renovations. 9 units with Fully Approved RTI Plans for 2 Interior ADUs + 2 Exterior ADUs (Under Construction). All units are under construction so buyers can complete them to their own taste and get top market rents. All of the rough construction and heavy lifting have 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. Potential for short-term vacation rental (Airbnb & Vrbo) to maximize income even further. 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 25k/unit (275k) plus estimated construction cost of 2 Exterior ADUs and Soft-Story at 75k/unit (150k) plus estimated Exterior renovation at (50k).
Based on information from California Regional Multiple Listing Service, Inc. as of 2023-09-29T19:37:33.58. 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 The Zia Group | eXp Realty. Licensed in the State of California, USA.