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1045 N Edinburgh Ave

West Hollywood, CA 90046
  • $4,295,000
  • STATUS: Active Under Contract
  • ON SITE: 24 Days
  • ID#: 22-160967
Under Contract
UPDATED: 51 min ago
$4,295,000
  • 14
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 8,605
    SQFT
  • $499
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1958
County:

School Ratings & Info

Description

Excellent West Hollywood location just South of Santa Monica and West of Fairfax. This is truly walkers' paradise with a walk score of 95 and an annual household income of $121,557 with in a 1-mile Radius of the subject property. Large units with large floor plans. Situated on a 6,532 SF lot, the property consists of 8,605 rentable SF and features six (6) one-bedroom/one-bathroom, and four (4) two-bedroom/two-bathroom units. Most of the units either have private balconies or patios. 10 covered and secured parking spaces, one space for each unit, secured by a gated fence with remote access. Immediate value add opportunity with four (4) vacant units which can be immediately renovated and rented at the market rate. This property is secured by a tall, gated fence which is locked at all times and can only be accessed through the intercom on the exterior part of the fence. The property boasts an incredibly high cap rate of 4.5% (the average cap rate sold in West Hollywood in the past 12 months has been 3.6%). 1045 Edinburgh is significantly higher than that, offering an investor the opportunity to renovate the units and cash flow at a much higher level. This property is not currently on the cities soft story seismic retrofitting program, which is a huge benefit to the buyer as doing the retrofitting work can be extremely costly and the cost of the work can't be passed on to the tenant in the city of West Hollywood.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-06-24T23:43:02.24. 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.randyplaice.com/homes/129333442
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1045 N Edinburgh Ave West Hollywood, CA 90046

  • Price: $4,295,000
  • Status: Active Under Contract
  • On Site: 24 Days
  • Updated: 51 min ago
  • ID#: 22-160967
14
Beds
0
Baths
0
½ Baths
0.15
Acres
8,605
SQFT
$499
$/SQFT
1958
Built
Neighborhood:
West Hollywood Vicinity
County:
Los Angeles
Area:
West Hollywood Vicinity
Property Description
Excellent West Hollywood location just South of Santa Monica and West of Fairfax. This is truly walkers' paradise with a walk score of 95 and an annual household income of $121,557 with in a 1-mile Radius of the subject property. Large units with large floor plans. Situated on a 6,532 SF lot, the property consists of 8,605 rentable SF and features six (6) one-bedroom/one-bathroom, and four (4) two-bedroom/two-bathroom units. Most of the units either have private balconies or patios. 10 covered and secured parking spaces, one space for each unit, secured by a gated fence with remote access. Immediate value add opportunity with four (4) vacant units which can be immediately renovated and rented at the market rate. This property is secured by a tall, gated fence which is locked at all times and can only be accessed through the intercom on the exterior part of the fence. The property boasts an incredibly high cap rate of 4.5% (the average cap rate sold in West Hollywood in the past 12 months has been 3.6%). 1045 Edinburgh is significantly higher than that, offering an investor the opportunity to renovate the units and cash flow at a much higher level. This property is not currently on the cities soft story seismic retrofitting program, which is a huge benefit to the buyer as doing the retrofitting work can be extremely costly and the cost of the work can't be passed on to the tenant in the city of West Hollywood.
Exterior Features

Lot Size Area 6532 Other Structures None Parking Garage Covered Parking Total Parking 10

Interior Features

Baths Total 14.00 Cooling None Equipment None Heating None

Property Features

Assessed Total Value 811651 Gross Income 296832 Gross Operating Income 287946 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Like Units6 1 Net Operating Income 193523.00 Number Of Buildings 1 Number Of Units 10 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Source Lot Size Dimensions Vendor Enhanced Total Annual Expense 94424 Type Of Units Standard Year Built Source Vendor Enhanced Zoning Wdr3c*

Listing provided courtesy of Saadia 'Sam' Liberow DRE#01933858 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-06-24T23:43:02.24. 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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