917 N Sierra Bonita Ave

West Hollywood, CA, 90046

$5,500,000

$721 per ft²
$5,500,000
$721 per ft²
Active Under Contract
Active Under Contract
 - For Sale
beds
14 Beds
baths
7.5 Baths
carpenters-square
7,624 ft²
property_type
Multi-family
calendar
Built 2007
5-unit Multifamily Complex constructed in 2007 as Condos but currently rented as apartment unitspurchased by the current owner from the original builder* 4.01% Cap on Actuals, with 31% Rental Upside and Not Subject to West Hollywood Rent Control* Each townhome features an upscale kitchen with high-quality cabinetry, stainless-steel appliances, an in-unit washer and dryer, recessed lighting, gated parking, and multiple private balconies with views of the Hollywood Hills* Purchaser can either continue to run the Property As-Iswhich allows for an excellent owner-operator opportunity with the 4 Bed + 4 Bath front unit--or oversee a simple condo-conversion process and subsequently sell individual units at approximately a 26% premium* Highly qualified tenant base with no delinquencies and minimal property upkeep provides a Buyer with robust cash flow. With the median SFR sales price in West Hollywood rising 14.8% over the last year and mortgage rates up over 100% in the same timeframethe market is expecting a massive shift from potential homeowners to renters, boosting demand for condo-esque assets* Submarket asking rents are expected to grow 28.24% over the next five years, returning to pre-COVID rates* West Hollywood occupancy averaged 94.65% over the past five years* Average household income of $131,859 within a three-mile radius, expected to rise 16.7% over the next five years* Robust employee population of 524,587 within a five-mile radius. Located between Melrose Avenue and Santa Monica Boulevard, steps away from countless restaurants and shops, such as The Village Idiot, Osteria Mozza, Ysabel, Milk Bar, and the famous Melrose Trading Post* Within a 2-mile radius of major employers, including Paramount Pictures, CBS Studios, and UCLA Health* Just two blocks away from Santa Monica Boulevard or Melrose Ave, both of which act as transit veins throughout the Westside* Conveniently proximate to the luxurious amenities within Beverly Hills, the worldrenowned nightlife of West Hollywood, and the more touristy spots of Hollywood
MLS® ID:
22-181473
Listed:
7/20/22
Updated:
12/6/22

Interior Features

Kitchen Appliances
Microwave, Oven, Cooktop - Gas
Total Bedrooms
14
Total Bathrooms
7.5
Laundry Description
Laundry Area, Community
Floor Description
Hardwood, Carpet
Cooling
Air Conditioning, Ceiling Fan
Heating
Electric

Exterior/Building Features

Lot Size
6,500 ft² lot
Exterior Features
None
Architectural Style
Spanish

Other Property Details

Garage
No
Parking
Community Garage
Parking Total
12.0
View
N
County
Los Angeles
Pool
No
Pool Description
None
Total Stories
4
Zoning
WDR3C

Property History

Date
Event
Price
Value
10/11/22
Active Under Contract
-
-
9/13/22
Pending
-
-

Courtesy of Colliers International Greater Los Angel, Anna Kampling,
Listing Contact:  

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Ibrahim Sultani shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2022 Combined L.A./Westside MLS. All rights reserved.

Data last updated 12/6/22

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