8815 Cynthia St - Apartments FOR SALE


West Hollywood, CA 90069
$10,250,000 USD
310-968-5303
8815 Cynthia St, West Hollywood, CA for Sale
$10,250,000 USD
Apartments - FOR SALE
1/55
null | Request Cap Rate

8815 Cynthia St
West Hollywood, CA 90069


HIGHLIGHTS

  • Premier West Hollywood location
  • In the process of being converted to condominiums
  • Built in 1989: Exempt from West Hollywood Rent Control (Subject to AB 1482)
  • Approx. $1,073,800 spent on apartment renovations / approx. $155,000 spent on common area renovations
  • 90% very large two-bedroom units
  • A short stroll to Sunset Blvd., high end dining and nightlife

OVERVIEW

Jonathan Taksa of the Taksa Investment Group, part of RE/MAX Commercial & Investment Realty, is pleased to present 8815 Cynthia Street, a prestigious opportunity to acquire a property in one of the best rental locations in prime West Hollywood. Built in 1989, the property is NOT 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. Additionally, the property is in the process of being converted to condominiums. 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 secure entry, 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.

FOR SALE DETAILS

PRICE

$10,250,000 USD

PRICE/SF

$433 USD /SF

# OF UNITS

21

PRICE/UNIT

$488,095

CAP RATE

Request Cap Rate

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cynthia Gardens: No Rent Control in WeHo!

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1989

PARKING SPACES

47

LAND DETAILS

LAND ACRES

0.41 AC

LAND SF

17,860 SF

ZONING

LCR4*

APN/PARCEL ID

4339-013-028

ASK ABOUT THIS PROPERTY

Jonathan TaksaRE/MAX Commercial & Investment RealtyMore Info
310-968-5303

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Jonathan TaksaRE/MAX Commercial & Investment RealtyMore Info
310-968-5303

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.