Description
1317 N. Vista, a 30 unit courtyard-style complex built in 1988, is located just north of Fountain Ave (between Fairfax and La Brea) and adjacent to the city of West Hollywood. Situated across the street from Plummer Park, this value-add property is located in the heart of a premium neighborhood that attracts high-quality tenants who prioritize convenient access to an array of quality entertainment and dining options. Built in 1988, 1317 N. Vista is NOT SUBJECT TO LA CITY RENT CONTROL. This allows for an annual rent increase of 5% plus Consumer Price Index (CPI), currently 10%. Based on market rents for renovated units in the area, this substantial value-add property offers approx. 34% upside in rents. We anticipate the future owner could operate the property at approx. 6% CAP and 11.95 GRM based on market rents. The property features an enticing unit mix comprised of (18) 2-bdrm. and 2-bath units, (6) 1-bdrm. units and (6) studio units. Each bright and spacious unit, approx. 800 SF, features a fireplace and a balcony. All units have central air conditioning, except for the studio units, which have wall units. Property amenities include two parking garages with approx. 51 parking spaces, laundry room on every floor, elevator, controlled access and an entry lobby.
Location
Similar Listings
$2,599,000
2
3
2,022 Sq ft
Looking For Backup
MLS# 23-237907
No similar listings found
Unfortunately, we don't have any similar listings at the moment. Please remove or change some of the selected filters.
Listing Agent: Kenny Stevens 01090251 Courtesy of: Compass "All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed."
Updated: 7th February, 2023 11:34 PM (UTC)
