Sold

917 N Sierra Bonita Ave

West Hollywood CA, 90046

$5,450,000


$714.85 per sqft

Sold

14 Beds

7.5 Baths

7,624 sqft

Multi-family

Built in 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

22-181473

MLS ID

July 21, 2022

Listed

September 20, 2023

Updated

Map

917 N Sierra Bonita Ave
West Hollywood CA, 90046

Interior Features

Total Stories

4


Bedrooms

14 Beds


Bathrooms

7.5 Baths


Appliances

Microwave, Oven, Cooktop - Gas


Laundry Description

Laundry Area, Community


Floor Description

Hardwood, Carpet


Fireplace

No


Cooling

Yes


Cooling Description

Air Conditioning, Ceiling Fan


Heating

Yes


Heating Description

Electric

Exterior/Building Features

Lot Size

0.15 acres


Exterior Features

None


Architectual Style

Spanish

Other Property Details

Days on Market

43


Garage

Yes


Parking

Community Garage


Parking Total

12


View

No


County

Los Angeles


Pool

No


Pool Features

None

Courtesy of Anna Kampling with Colliers International Greater Los Angel
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 Living the Dream shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2023 Combined L.A./Westside MLS. All rights reserved.

Data last updated 9/20/2023

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