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    1045 N Harper Ave

    West Hollywood, CA 90046
    • $6,800,000
    • STATUS: Active
    • ON SITE: 20 Days
    • ID#: 21-792974
    $6,800,000
    • 21
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 11,658
      SQFT
    • $583
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1963
    County:

    School Ratings & Info

    Description

    We are pleased to present the opportunity to acquire 1045 N. Harper Avenue, a 15 - unit apartment building located in prime West Hollywood, California. The property offers investors a unique value -add opportunity with over 60% of the units being delivered vacant and ready to renovate at the close of escrow. The subject property, built in 1963 consists of nine (9) one-bedroom/one-bathroom units, and six (6) two-bedroom/two-bathroom units. The upper floors have incredible views of either the Hollywood Hills, or the City, and select units have private patios. Its 6,981 square foot lot is located within a highly desirable neighborhood in West Hollywood. It is within walking distance to Santa Monica Boulevard and provides convenient access to daily errands, retail, restaurants, and entertainment venues. The subject property allows an astute investor to acquire an exceptionally well-located property and immediately begin to reposition the asset without the challenges of having to relocate tenants.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-27T23:42:53.01. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.theparsonsrealestateteam.com/homes/122193002
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    1045 N Harper Ave West Hollywood, CA 90046

    • Price: $6,800,000
    • Status: Active
    • ID#: 21-792974
    21
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    11,658
    SQFT
    $583
    $/SQFT
    1963
    Built
    Neighborhood:
    West Hollywood Vicinity
    County:
    Los Angeles
    Area:
    West Hollywood Vicinity
    Property Description
    We are pleased to present the opportunity to acquire 1045 N. Harper Avenue, a 15 - unit apartment building located in prime West Hollywood, California. The property offers investors a unique value -add opportunity with over 60% of the units being delivered vacant and ready to renovate at the close of escrow. The subject property, built in 1963 consists of nine (9) one-bedroom/one-bathroom units, and six (6) two-bedroom/two-bathroom units. The upper floors have incredible views of either the Hollywood Hills, or the City, and select units have private patios. Its 6,981 square foot lot is located within a highly desirable neighborhood in West Hollywood. It is within walking distance to Santa Monica Boulevard and provides convenient access to daily errands, retail, restaurants, and entertainment venues. The subject property allows an astute investor to acquire an exceptionally well-located property and immediately begin to reposition the asset without the challenges of having to relocate tenants.
    Exterior Features

    Exterior Construction Stucco Lot Size Area 6982 Other Structures None Parking Garage None Total Parking 15

    Interior Features

    Baths Total 21.00 Cooling Wall Unit(S) Equipment Other Heating None

    Property Features

    Assessed Total Value 488448 Gross Income 454560 Gross Operating Income 440923 Like Units1 9 Like Units2 6 Net Operating Income 297328.00 Number Of Buildings 1 Number Of Units 15 Owner Pays GardenerWater Sale Type Standard Source Living Area Assessor Source Lot Size Area Vendor Enhanced Tenant Pays GasElectricity Total Annual Expense 143595 Type Of Units Market Year Built Source Assessor Zoning Wdr3a*

    Listing provided courtesy of Saadia 'Sam' Liberow DRE#01933858 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-27T23:42:53.01. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    The Parsons Team | Keller Williams Realty
    251 S. Lake Ave #150
    Pasadena CA, 91101