1115 Hacienda Pl
WEST HOLLYWOOD, CA 90069

Property

Ownership: For Sale
Bedrooms: 40 BR
Bathrooms: 40
Area: 15499 sq ft
Lot Size: 0.17 Acres

Financials

Price:$13,700,000
271 North Canon Drive Beverly Hills, CA 90210
Listing Courtesy of Marcus & Millichap

1115 Hacienda Pl 40BR Sunset Strip La

Description

Located north of Santa Monica Boulevard near the Norma Triangle, the building sits just two blocks from the world-famous Sunset Strip. The vast majority of apartments within the building have already been upgraded and remodeled, allowing a new investor to focus on improving cash flows with lower deferred maintenance expenses. Of the 35 units, 31 have been renovated to include some combination of quartz countertops, stainless steel appliances, new flooring, remodeled bathrooms, new cabinets and backsplashes, and updated fixtures. The building itself features a new roof, new water heater, and new pool equipment. According to recent reports from Niche.com, West Hollywood ranked #1 out of 111 neighborhoods in Los Angeles County among the Best Suburbs for Young Professionals, and ranked #2 in the entire state of California. With 80% of the West Hollywood population residing in rental housing, these upgraded and remodeled apartments are extremely attractive to this demographic, helping to boost both demand and rental rates. The property has earned a Walk Score of 94, which qualifies the immediate neighborhood as a "Walker's Paradise." Residents enjoy convenient access to the newly opened Erewhon, Gelson's, Trader Joe's, and Whole Foods Market in the area. Within a short driving distance are Beverly Hills, The Grove and Farmers Market, the Beverly Center, and several other destinations in both the Hollywood and West Hollywood areas.

Neighborhood

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CLAW

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.