Sold
917 N Sierra Bonita Avenue
West Hollywood CA, 90046
$5,450,000
$714.85 per sqft
Sold
14 Beds
7 Baths
7,624 sqft
Residential
Built in 2007
Listed by Anna Kampling with Colliers International Greater Los Angel 213-532-3205
5-unit Multifamily Complex constructed in 2007 as Condos but currently rented as apartment unitspurchased by the current owner from the original builder* 4.01% Cap on Actuals, with 31% Rental Upside and Not Subject to West Hollywood Rent Control* Each townhome features an upscale kitchen with high-quality cabinetry, stainless-steel appliances, an in-unit washer and dryer, recessed lighting, gated parking, and multiple private balconies with views of the Hollywood Hills* Purchaser can either continue to run the Property As-Iswhich allows for an excellent owner-operator opportunity with the 4 Bed + 4 Bath front unit--or oversee a simple condo-conversion process and subsequently sell individual units at approximately a 26% premium* Highly qualified tenant base with no delinquencies and minimal property upkeep provides a Buyer with robust cash flow. With the median SFR sales price in West Hollywood rising 14.8% over the last year and mortgage rates up over 100% in the same timeframethe market is expecting a massive shift from potential homeowners to renters, boosting demand for condo-esque assets* Submarket asking rents are expected to grow 28.24% over the next five years, returning to pre-COVID rates* West Hollywood occupancy averaged 94.65% over the past five years* Average household income of $131,859 within a three-mile radius, expected to rise 16.7% over the next five years* Robust employee population of 524,587 within a five-mile radius. Located between Melrose Avenue and Santa Monica Boulevard, steps away from countless restaurants and shops, such as The Village Idiot, Osteria Mozza, Ysabel, Milk Bar, and the famous Melrose Trading Post* Within a 2-mile radius of major employers, including Paramount Pictures, CBS Studios, and UCLA Health* Just two blocks away from Santa Monica Boulevard or Melrose Ave, both of which act as transit veins throughout the Westside* Conveniently proximate to the luxurious amenities within Beverly Hills, the worldrenowned nightlife of West Hollywood, and the more touristy spots of Hollywood
22181473
MLSⓇ ID
July 21, 2022
Listed
March 23, 2024
Updated
Map
917 N Sierra Bonita Avenue
West Hollywood CA, 90046
Interior Features
Total Stories
4
Bedrooms
14 Beds
Bathrooms
7 Baths
Interior Features
Ceiling Fan(s)
Appliances
Gas Cooktop, Disposal, Microwave, Oven, Refrigerator, Dryer, Washer
Laundry Description
Common Area
Floor Description
Carpet, Wood
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Electric
Exterior/Building Features
Lot Size
0.15 Acres
Architectual Style
Spanish
Other Property Details
Area Name
C10 - West Hollywood Vicinity
Days on Market
43
Garage
No
Parking
Community Structure
Parking Total
12
View
No
County
Los Angeles
Pool
No
Pool Features
None
Zoning
WDR3C
Buyer Agency Compensation
1.35%
Listing Contact: 213-532-3205
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/23/2024. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 3/23/2024 at 1:36 AM UTC