1030 N Edinburgh Ave, West Hollywood, CA 90046

$3,150,000
11
BD
11
BA
8,080
SqFt
Sold Price
$3,150,000
List Price
$3,295,000
Closing Date
Dec 28, 2021
MLS#
21-786236
Year Built
1963
Bedrooms
11
Bathrooms
11
Living Sq. Ft
8,080
Lot Size
6,254
Lot Location
City
Days on Market
72
Property Type
Multifamily
Stories
2

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.

Additional Information

Other Buildings
None
Pool Description
None
Heat
Natural Gas
Cooling
Wall/Window, Window Unit(s), Wall Unit(s)
Number of Cars in Garage
Gated Underground

Mortgage Calculator

Amount of Loan
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Calculator source: Real Geeks

Courtesy of , Neema Ahadian - CA DRE# Selling Office: .

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