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.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 3/23/2024 at 1:36 AM UTC

 

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