Rare opportunity to acquire a trophy property located at 1031 N. Crescent Heights Boulevard in prime West Hollywood. Also known as "La Ventana," the property was built in 1989 and thus is not subject to the strict rent control regulations of the city of West Hollywood, allowing for immediate upside (seller has not raised the rents during the pandemic). It consists of fifteen (15) large two-bedroom / two-bathroom units and many featuring soaring vaulted ceilings with an abundance of natural light. The units feature upgraded and luxurious amenities including stainless steel appliances, quartz or granite countertops, fireplaces, hardwood floors, spacious kitchens/bedrooms/bathrooms, in-unit washer/dryers, large balconies, and central heat and air conditioning. The common areas include an on-site heated pool with barbeque area, recreation room, copper plumbing, security cameras, and gated parking consisting of 34 total spaces (including guest parking). Additionally, the property is a potential candidate for a condominium conversion and previously had an approved tentative tract map. The location is a walker's paradise with a "Walk Score" of 92. Esteemed La Ventana presents an investor with a unique opportunity to immediately capitalize on higher market rents and to acquire a prime low maintenance asset in one of the best rental locations in all of LA.
Courtesy of Ardy Ishal, BRC Advisors- BH
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Data last updated 7/3/22