1251 N Detroit St West Hollywood , CA 90046
Active
$1,950,000
13%
4 Units
6 Beds
4 Baths
2,984 Area(sq.ft.)
6,673 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 1 | 1 | No | $ 2,500 | $ 2,500 | $ 2,500 |
| Unit 2 | 1 | 1 | 1 | No | $ 2,500 | $ 2,500 | $ 2,500 |
| Unit 3 | 1 | 1 | 1 | No | $ 2,750 | $ 2,750 | $ 2,750 |
| Unit 4 | 1 | 2 | 1 | No | $ 3,250 | $ 3,250 | $ 3,250 |
| 4 | 4 | 5 | 4 | $ 11,000 | $ 11,000 | $ 11,000 |
| MLS #: | 24-436081 |
| Days On Market: | 67 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 653 |
| Price per unit: | $ 487,500 |
| Year Built: | 1947 |
Property Details
We are pleased to present a four (4) unit apartment building located at 1251 N Detroit Street in West Hollywood, California. The subject property is situated in a prime West Hollywood location, south of Fountain Avenue and west of N La Brea Avenue. Built in 1947, this property contains a good unit mix of two (2) one-bedroom / one-bathroom units and two (2) two-bedroom / one-bathroom units. The asset will be de livered 75% vacant. Select units have also been renovated with new appliances, cabinets, windows, sinks, and in unit washer and dryer. This offering also includes RTI plans for a duplex consisting of two (2) three-bedroom / two-bathroom units that will be situated between the two existing structures. Tenants will love living within only a couple miles from the Sunset Strip, Hollywood Boulevard, and numerous fashion, art, and entertainment amenities that West Hollywood has to offer. The neighborhood attracts many young professionals given the film, fashion, and art industry presence in this location. Plenty of dedicated street parking is available. Situated in the coveted 90046 zip code, this offering presents an excellent opportunity for any investor to capitalize on a 75% vacant property with RTI plans for two additional units while still getting a highly levered residential loan.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Vacancy Rate: | 75% |
| Gross Operating Income: | $ 128,040 |
| Total Annual Expense: | $ 34,229 |
| Net Operating Income: | $ 93,811 |
| Gross Annual Income: | $ 132,000 |
| Cap Rate: | 4.81% |
| Gross Rent Multiplier: | 15.63 |
Structure
| Type of Units: | Market |
| Buildings: | 2 |
| Levels: | Two |
| Style: | Craftsman |
| View Description: | City |
Land & Parking
| Zoning: | WDR3C* |
| Land Lease Type: | Fee |
| Parking Garage: | On street |
Interior
| AC/Cooling: | Air Conditioning |
| Equipment: | Built-Ins |
| Heating: | Wall |
| Laundry: | In Unit |
| Laundry Equipment: | Own |
| Patio Features: | Covered Porch |
Exterior
| Pool: | No |
| Spa: | No |
Detailed Map
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