Property
| Ownership: | For Sale |
|---|---|
| Bedrooms: | 36 BR |
| Bathrooms: | 37 |
| Area: | 11510 sq ft |
| Lot Size: | 0.3 Acres |
Financials
Price:$6,850,000
Listing Courtesy of Miller & Desatnik Realty Co.
816 Westmount Dr 36BR Sunset Strip La
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.
Neighborhood
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