Description

8 Unit building with 5 fully renovated vacancies in prime West Hollywood cash flowing at an amazing Current Cap Rate of 5% and 14.2 GRM from day 1! 1 Attached (1 bed/1bath) RTI ADU under construction which will improve the current financials to an incredible Current 5.7% Cap Rate, 12.9 GRM and only 432k/door after completion. Additional 24% upside to 6.6% Cap Rate and 11.5 GRM on the proforma. Diverse Unit Mix of 5 (2bed/1bath) units and 3 (1bed/1bath) units. Individually metered for Gas & Electricity. RTI Plans for 1 Attached ADU in the storage area (Under Construction) + Prelim Plans for 2 Detached ADUs over the carport. All 5 units have been completely renovated and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, stainless steel appliances, washer/dryer inside, as well as major exterior capital improvements. This property is located in the heart of West Hollywood just minutes away from the iconic Sunset Strip, Beverly Hills, and within walking distance of many hip neighborhood attractions, restaurants, bars, and shops such as Delilah, Laurel Hardware, Employees Only, Bar Lubitsch, Formosa Cafe, and more popping up all around the area.

Features

• 0.15 Acres