Description

1317 N. Vista, a 30 unit courtyard-style complex built in 1988, is located just north of Fountain Ave (between Fairfax and La Brea) and adjacent to the city of West Hollywood. Situated across the street from Plummer Park, this value-add property is located in the heart of a premium neighborhood that attracts high-quality tenants who prioritize convenient access to an array of quality entertainment and dining options. Built in 1988, 1317 N. Vista is NOT SUBJECT TO LA CITY RENT CONTROL. This allows for an annual rent increase of 5% plus Consumer Price Index (CPI), currently 10%. Based on market rents for renovated units in the area, this substantial value-add property offers approx. 34% upside in rents. We anticipate the future owner could operate the property at approx. 6% CAP and 11.95 GRM based on market rents. The property features an enticing unit mix comprised of (18) 2-bdrm. and 2-bath units, (6) 1-bdrm. units and (6) studio units. Each bright and spacious unit, approx. 800 SF, features a fireplace and a balcony. All units have central air conditioning, except for the studio units, which have wall units. Property amenities include two parking garages with approx. 51 parking spaces, laundry room on every floor, elevator, controlled access and an entry lobby.

Features

• 0.31 Acres
• 3 Stories