1021 N Genesee Avenue

    West Hollywood, CA 90046
    • $3,150,000
    • STATUS: Active
    • ON SITE: 48 days
    • ID#: 19463410
    Price Reduced
    UPDATED: 67 min ago
    $3,150,000
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 8,738
      SQFT
    • $360
      $/SQFT
    Type:
    Multi-Family
    Built:
    1960
    County:

    School Ratings & Info

    Description

    This is excellent opportunity to acquire 1021 North Genesee Avenue, a 10-unit apt bldng in one of the best, highly-sought after, rental locations in a desirable and trendy West Hollywood. This 1960 2-story wood framed bldng, offers semi-subterranean gated prkng for 10 vehicles. The gated property has 8,738 sq-ft of bldng on a 6,380 sq-ft lot, has a great unit mix of 4 two-bdrm & two-btrm units, and 6 one- bdrm & one-btrm units. The common laundry machines are landlord controlled and produce income. Selected units have been beautifully renovated w modern new flooring, brand new appliances, new lighting, and wall AC units. The exterior common areas have been upgraded w new paint and lush low-maintenance landscaping. There is fire sprinkler sys in parking garage. An astute investor will benefit immediate cash flow, w the opportunity to capitalize significantly on higher market rents and to acquire a well maintained and low maintenance property, offering a tremendous rental upside.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-06-25T18:38:00.573. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.hellerthehomeseller.com/homes/94480632

    1021 N Genesee Avenue West Hollywood, CA 90046

    • Price: $3,150,000
    • Status: Active
    • Updated: 67 min ago
    • ID#: 19463410
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    8,738
    SQFT
    $360
    $/SQFT
    1960
    Built
    Neighborhood:
    C10 - West Hollywood Vicinity
    County:
    Los Angeles
    Area:
    C10 - West Hollywood Vicinity
    Property Description
    This is excellent opportunity to acquire 1021 North Genesee Avenue, a 10-unit apt bldng in one of the best, highly-sought after, rental locations in a desirable and trendy West Hollywood. This 1960 2-story wood framed bldng, offers semi-subterranean gated prkng for 10 vehicles. The gated property has 8,738 sq-ft of bldng on a 6,380 sq-ft lot, has a great unit mix of 4 two-bdrm & two-btrm units, and 6 one- bdrm & one-btrm units. The common laundry machines are landlord controlled and produce income. Selected units have been beautifully renovated w modern new flooring, brand new appliances, new lighting, and wall AC units. The exterior common areas have been upgraded w new paint and lush low-maintenance landscaping. There is fire sprinkler sys in parking garage. An astute investor will benefit immediate cash flow, w the opportunity to capitalize significantly on higher market rents and to acquire a well maintained and low maintenance property, offering a tremendous rental upside.
    Exterior Features

    Garage Spaces 10.00 Lot Size Units Square Feet Parking Features AssignedAuto Driveway GateCoveredControlled EntranceCommunity Structure Parking Total 10.00 Parking YN Yes

    Interior Features

    Appliances Refrigerator Appliances YN Yes

    Property Features

    Cap Rate 3.34 Gross Multiplier 18.62 Gross Operating Income 177230.00 Insurance Expense 3632.00 Laundry Income 300.00 Maintenance Expense 1000.00 Net Operating Income 106707.00 Other Expense 1000.00 Pest Control Expense 900.00 Professional Management Expense 7041.00 Special Listing Conditions Standard Total Actual Rent 177230.00 Total Expenses 65314.00 Trash Expense 1695.00 Zoning Wdr3c*

    Listing provided courtesy of Michele Shuman of Keller Williams Beverly Hills and Shawn Gabbaie of


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-06-25T18:38:00.573. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
    Heller The Home Seller | Keller Williams Realty
    171 Saxony Road, Ste. 205
    Encinitas CA, 92024