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816 Westmount Drive, West Hollywood, CA 90069
Priced at Only: $6,850,000
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Address: 816 Westmount Drive, West Hollywood, CA 90069
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  • MLS#: 26653679 ( )
  • Street Address: 816 Westmount Drive
  • Viewed: 6
  • Price: $6,850,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1973
  • Bldg sqft: 0
  • Days On Market: 36
  • Additional Information
  • County: LOS ANGELES
  • City: West Hollywood
  • Zipcode: 90069
  • Provided by: Miller & Desatnik Realty Co.
  • Contact: David David
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    816 Westmount Drive presents an 18 unit multifamily investment opportunity in a highly desirable West Hollywood location. The offering features 2.69% interest only assumable financing through December 2030, providing strong day one leveraged cash flow and an approximate cash on cash return above 6.73%. The property generates solid in place income at a 12.22 GRM and 4.57% cap rate, equating to approximately $380,556 per unit and $300 per square foot.A large storage space of approx. 680 square feet can be converted to a ADU. Seller has preliminary plans to legalize the structure as an ADU (buyer to verify), creating additional income potential and long term value enhancement.Built in 1973, the asset is a well scaled 1970s multifamily property with practical design, efficient unit layouts, and strong operational fundamentals. The larger unit count offers meaningful economies of scale and the opportunity to implement a strategic renovation program to drive rental repositioning and long term NOI growth. Favorable assumable financing enhances investor yield and mitigates acquisition financing risk, positioning the property as a compelling value add opportunity within one of Los Angeles County's most supply constrained rental submarkets.
Features
Appliances
  1. Refrigerator
Building Area Total
  1. 22800.00
Country
  1. US
Heating
  1. Wall Furnace
Levels
  1. Two
Netoperatingincome
  1. 313126.00
Parcel Number
  1. 4337005060
Parking Features
  1. Gated
Sourcesystemkey
  1. 26653679:CLAW
Totalexpenses
  1. 230626.00
Virtual Tour Url
  1. https://drive.google.com/drive/folders/1a3sQFNCdOy4kThDlhHhljAshIFgo2xvT?usp=drive_link
Year Built
  1. 1973
Year Built Source
  1. Assessor
Zoning
  1. WDR2*
Headshot for Associate Xavier Gomez
  1. Xavier Gomez, BrkrAssc,CDPE
  2. RE/MAX College Park Realty
  3. BRE 01736488
  4. Fax: 714.975.9953
  5. Mobile: 714.478.6676
  6. salesbyxavier@gmail.com
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