8815 Cynthia St - Apartments FOR SALE


West Hollywood, CA 90069
$15,425,000 USD
310-968-5303
8815 Cynthia St, West Hollywood, CA for Sale
$15,425,000 USD
Apartments - FOR SALE
1/30
null | Request Cap Rate

8815 Cynthia St
West Hollywood, CA 90069


HIGHLIGHTS

  • HUGE PRICE REDUCTION: Premier West Hollywood location
  • EXEMPT from City rent control (AB 1482 applies)
  • Huge rental upside
  • Courtyard building with fountain
  • Approx. $829,000 spent on apartment renovations and Approx. $81,000 spent on common area renovations
  • Excellent candidate for condominium conversion

OVERVIEW

HUGE PRICE REDUCTION: 8815 Cynthia Street is a prestigious opportunity to acquire a property in one of the best rental locations in prime West Hollywood. Built in 1989, the property is NOT subject to the city of West Hollywood’s rent control (AB 1482 does apply). 4 of the units are subject to lower income covenants. The beautiful courtyard property boasts an ideal unit mix consisting of all 19 two-bedroom two bath units and 2 one-bedroom one bath units. Each of the units is extremely spacious, has a terrific floor plan, and offers an abundance of natural light. Units feature upgraded and luxurious amenities including stainless steel appliances, quartz or granite countertops, fireplaces, vinyl or laminate flooring, spacious kitchens/bedrooms/bathrooms, large balconies/patios, individual water heaters, and central heat and air conditioning. Other property features include secure entry, copper plumbing, 18 camera video system, and gated subterranean parking (an incredible 47 parking spaces for 21 units). 8815 Cynthia Street is regarded as a “Walker’s Paradise” as it features an incredible Walk Score of 92. With such an abundance of parking and an ideal unit mix, the property is well positioned for an investor looking for a condominium conversion project. This rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier asset in one of the best rental locations in all of Los Angeles.

FOR SALE DETAILS

PRICE

$15,425,000 USD

PRICE/SF

$652 USD /SF

# OF UNITS

21

PRICE/UNIT

$734,524

CAP RATE

Request Cap Rate

% LEASED

86%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

HUGE $ REDUCTION: NO RENT CONTROL IN WEHO

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1989

PARKING SPACES

47

LAND DETAILS

LAND ACRES

0.41 AC

LAND SF

17,860 SF

ZONING

LCR4*

APN/PARCEL ID

4339-013-028

ASK ABOUT THIS PROPERTY

Jonathan TaksaRE/MAX Commercial & Investment RealtyMore Info
310-968-5303

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Jonathan TaksaRE/MAX Commercial & Investment RealtyMore Info
310-968-5303

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.