Listing provided courtesy of Alexander Yerekhman of Century 21 Hollywood. Last updated 2024-05-06 08:11:18.000000. Listing information © 2023 CRMLS.
Asking Price: $6,250,000
1047 Sierra Bonita, West Hollywood CA 90046
Community: C10 - West Hollywood Vicinity
Status: Active
This Apartment property was built in 1955 and is priced at $6,250,000. Please see the additional details below.
Huge 250k Price Reduction! Once in a lifetime, 100% Vacant & Renovated 13 Units in West Hollywood cash flowing at an incredible 5.75% Cap Rate and 12.7 GRM. Priced at only 480k/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. Potential for short-term vacation rental (Airbnb & Vrbo), longer-term furnished rentals, and government master leases to maximize income even further. Excellent West Hollywood location minutes from The Grove, Sunset Strip, and Beverly Hills.