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1045 N Edinburgh Avenue

West Hollywood, CA 90046
  • $4,295,000
  • STATUS: Active Under Contract
  • ON SITE: 32 Days
  • ID#: 22160967
Under Contract
UPDATED: 48 min ago
$4,295,000
  • 0
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1958
County:

School Ratings & Info

Listing Agent(s): Saadia 'Sam' Liberow of Marcus & Millichap (818-212-2700)


Description

Excellent West Hollywood location just South of Santa Monica and West of Fairfax. This is truly walkers' paradise with a walk score of 95 and an annual household income of $121,557 with in a 1-mile Radius of the subject property. Large units with large floor plans. Situated on a 6,532 SF lot, the property consists of 8,605 rentable SF and features six (6) one-bedroom/one-bathroom, and four (4) two-bedroom/two-bathroom units. Most of the units either have private balconies or patios. 10 covered and secured parking spaces, one space for each unit, secured by a gated fence with remote access. Immediate value add opportunity with four (4) vacant units which can be immediately renovated and rented at the market rate. This property is secured by a tall, gated fence which is locked at all times and can only be accessed through the intercom on the exterior part of the fence. The property boasts an incredibly high cap rate of 4.5% (the average cap rate sold in West Hollywood in the past 12 months has been 3.6%). 1045 Edinburgh is significantly higher than that, offering an investor the opportunity to renovate the units and cash flow at a much higher level. This property is not currently on the cities soft story seismic retrofitting program, which is a huge benefit to the buyer as doing the retrofitting work can be extremely costly and the cost of the work can't be passed on to the tenant in the city of West Hollywood.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-07-03T15:28:00.503. 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 Zen Ziejewski and Team | Keller Williams Realty. Licensed in the State of California, USA.
www.homefinderorangecounty.com/homes/129332298
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1045 N Edinburgh Avenue West Hollywood, CA 90046

  • Price: $4,295,000
  • Status: Active Under Contract
  • On Site: 32 Days
  • Updated: 48 min ago
  • ID#: 22160967
0
Beds
0
Baths
0
½ Baths
0.15
Acres
1958
Built
Neighborhood:
C10 - West Hollywood Vicinity
County:
Los Angeles
Area:
C10 - West Hollywood Vicinity
Property Description
Excellent West Hollywood location just South of Santa Monica and West of Fairfax. This is truly walkers' paradise with a walk score of 95 and an annual household income of $121,557 with in a 1-mile Radius of the subject property. Large units with large floor plans. Situated on a 6,532 SF lot, the property consists of 8,605 rentable SF and features six (6) one-bedroom/one-bathroom, and four (4) two-bedroom/two-bathroom units. Most of the units either have private balconies or patios. 10 covered and secured parking spaces, one space for each unit, secured by a gated fence with remote access. Immediate value add opportunity with four (4) vacant units which can be immediately renovated and rented at the market rate. This property is secured by a tall, gated fence which is locked at all times and can only be accessed through the intercom on the exterior part of the fence. The property boasts an incredibly high cap rate of 4.5% (the average cap rate sold in West Hollywood in the past 12 months has been 3.6%). 1045 Edinburgh is significantly higher than that, offering an investor the opportunity to renovate the units and cash flow at a much higher level. This property is not currently on the cities soft story seismic retrofitting program, which is a huge benefit to the buyer as doing the retrofitting work can be extremely costly and the cost of the work can't be passed on to the tenant in the city of West Hollywood.
Exterior Features

Parking Features Covered Parking Total 10

Interior Features

Cooling None Cooling YN No Heating None Heating YN No

Property Features

Association Fee 0 Gross Income 296832 Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 193523 New Construction YN No Senior Community YN No Special Listing Conditions Standard Zoning Wdr3c*



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-07-03T15:28:00.503. 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 Zen Ziejewski and Team | Keller Williams Realty. Licensed in the State of California, USA.
 
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Zen Ziejewski and Team | Keller Williams Realty
27101 Puerta Real #150
Mission Viejo CA, 92691
Listing Agent(s): Saadia 'Sam' Liberow of Marcus & Millichap (818-212-2700)