West Hollywood, CA 90046,11114 N GARDNER ST

$2,850,000

Est. payment /mo

$2,795,000

2.0%
Est.Price: ?

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11114 N GARDNER ST West Hollywood, CA 90046

SOLD DATE : 10/07/2016

Key Details

Sold Price $2,850,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

MLS Listing ID 16119576

Sold Date 10/07/16

HOA Y/N No

Year Built 1948

Property Description

It is extremely rare to find a property of this size in a high quality A West Hollywood location, with units this large and with rents extremely below current market rents. Given these facts, this property presents itself as a true classic value added opportunity. With currents rents at $0.87 Per Sq Ft, this building is currently operating well below its maximum income potential. Competing properties in this sub-market are currently achieving rents in the range of $2.50-3.00 Per Sq Ft. This fact alone makes this Gardner St Asset an excellent opportunity to generate tremendous upside both in income and value to a future investor. That's a real 36% upside in rents with only using market rent assumptions as low as $2.76 PSF. 5 VACANT UNITS! Perfect Value Add Opportunity!

Location

State CA

County Los Angeles

Area C10 - West Hollywood Vicinity

Zoning WDR2*

Interior

Fireplace No

Appliance Refrigerator

Exterior

Parking Features Garage

Total Parking Spaces 12

Building

Story 2

Others

Tax ID 5531002002

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Arthur Arejian • Arthur Arejian, Broker
Bought with Arthur Arejian • Arthur Arejian, Broker

John Vogel

Real Estate Advisor | License ID: DRE 01445571

+1(760) 712-2437

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