8815 Cynthia St West Hollywood , CA 90069
Active
$15,425,000
9%
21 Units
40 Beds
40 Baths
23,675 Area(sq.ft.)
17,763 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 15 | 2 | 2 | No | $ 3,552 | $ 53,275 | $ 59,925 |
| Unit 2 | 2 | 2 | 2 | No | $ 1,495 | $ 2,991 | $ 3,168 |
| Unit 3 | 1 | 2 | 2 | No | $ 1,275 | $ 1,275 | $ 1,389 |
| Unit 4 | 1 | 2 | 2 | No | $ 1,163 | $ 1,163 | $ 1,267 |
| Unit 5 | 2 | 1 | 1 | No | $ 3,170 | $ 6,340 | $ 6,990 |
| 5 | 21 | 40 | 40 | $ 65,048 | $ 820,225 | $ 921,847 |
| MLS #: | 24-424451 |
| Days On Market: | 120 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 652 |
| Price per unit: | $ 734,524 |
| Year Built: | 1989 |
Property Details
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 isNOT 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 secureentry, 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.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Vacancy Rate: | 3% |
| Gross Operating Income: | $ 785,691 |
| Total Annual Expense: | $ 290,170 |
| Net Operating Income: | $ 472,105 |
| Gross Annual Income: | $ 780,531 |
| Gross Rent Multiplier: | 17.57 |
Structure
| Type of Units: | 2s,1s |
| Buildings: | 1 |
| Levels: | Multi/Split |
Land & Parking
| Zoning: | LCR4* |
| Parking Garage: | Subterranean |
| Total Parking: | 47 |
Interior
| AC/Cooling: | Central |
| Equipment: | None |
| Heating: | Central |
Exterior
Detailed Map
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