$2,850,000
$2,795,000
2.0%For more information regarding the value of a property, please contact us for a free consultation.
11114 N GARDNER ST West Hollywood, CA 90046
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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Bought with Arthur Arejian • Arthur Arejian, Broker