$5,700,000
$6,000,000
5.0%For more information regarding the value of a property, please contact us for a free consultation.
1047 N Sierra Bonita AVE West Hollywood, CA 90046
6,487 Sqft Lot
Key Details
Sold Price $5,700,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CRSR24104350
Year Built 1955
Lot Size 6,487 Sqft
Property Description
Huge 500k Price Reduction! The property is currently 100% Master Leased for the next 5 years providing a guaranteed cash flow (1 monthly check of $31,750 with 2.5% annual increases) with 0% vacancy plus all expenses paid by the tenant including management fees, utilities, interior repairs, cleaning, pest control, etc (Similar to a hassle-free NNN deal with stable income and landlord only responsible for paying property taxes and insurance). Once in a lifetime, 13 units in Prime West Hollywood that was 100% Vacated & Renovated cash flowing at an incredible 5% Cap Rate from day 1 with no management responsibilities. Priced at only 461k/door for units that have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, new Mini Split AC systems, stainless steel appliances, washer/dryer inside, as well as major exterior capital improvements. On top of that, all the major systems have been updated including roof, electrical, plumbing, windows, HVAC, soft-story, etc. The unit mix provides unparalleled versatility with 5 (2bed/1bath) units, 6 (1bed/1bath) units, and 2 (studio/1bath) units. Each unit is individually metered for gas and electricity, ensuring convenience and efficiency. Excellen
Location
State CA
County Los Angeles
Area C10 - West Hollywood Vicinity
Interior
Laundry 30, Stacked Only
Exterior
Pool None
Building
Sewer None
Water District - Public
Others
Special Listing Condition Not Applicable
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Bought with Seidahl Hakimi