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1030 N Edinburgh Ave

West Hollywood, CA 90046
  • $3,295,000
  • STATUS: Active Under Contract
  • ON SITE: 70 Days
  • MLS #: 21-786236
Under Contract
$3,295,000
  • 11
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 8,080
    SQFT
  • $408
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1963
County:

School Ratings & Info

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.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-11-30T23:43:16.143. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.deserthouseseekers.com/homes/121631409
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1030 N Edinburgh Ave West Hollywood, CA 90046

  • Price: $3,295,000
  • Status: Active Under Contract
  • On Site: 70 Days
  • MLS #: 21-786236
11
Beds
0
Baths
0
½ Baths
0.14
Acres
8,080
SQFT
$408
$/SQFT
1963
Built
Neighborhood:
West Hollywood Vicinity
County:
Los Angeles
Area:
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

Lot Location City Lot Size Area 6254 Other Structures None Parking Garage Gated Underground Pool Description None Pool YN No Spa None Spa YN No Sprinklers Sprinkler System Tennis Court None Tennis YN No Total Parking 10

Interior Features

Baths Total 11.00 Cooking Appliances Cooktop - GasGas/Electric Range Cooling Wall/WindowWindow Unit(S)Wall Unit(S) Equipment RefrigeratorRange/OvenHood FanCeiling Fan Fireplace Rooms None Flooring LaminateCarpet Heating Natural Gas Laundry CommunityLaundry Area Windows Vertical Blinds

Property Features

Assessed Total Value 296090 Gross Income 183247 Gross Operating Income 176375 Like Units1 7 Like Units2 2 Net Operating Income 108086.00 Number Of Buildings 2 Number Of Units 9 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 68289 Type Of Units Apartments Year Built Source Vendor Enhanced Zoning Wdr3b

Listing provided courtesy of Neema Ahadian DRE#01346750 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-11-30T23:43:16.143. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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