Current CAP RATE 4.90% - Highest in the Area! The Romaine Garden, an excellent opportunity to acquire a 10-unit apartment building in one of the best highly sought rental locations in prime West Hollywood. The Romaine Garden, provides an excellent unit mix, consists of three (3) Two Bedroom/Two Bathroom units, three (3) Two Bedroom/One Bathroom units and four (4) One Bedroom/One Bathroom units. The property's 8,404 read more rentable square feet is situated on a 6,452 square foot lot. Selected units have been renovated, new windows, new cabinets in both kitchen and bathrooms, new flooring, new lighting and new stainless-steel appliances. The exterior and common areas have been extensively upgraded with new exterior paint, and new landscaping. An astute investor will benefit immediate cash flow, with the opportunity to capitalize significantly on higher market rents and to acquire a well maintained and low maintenance property in one of the most prime locations on the Westside of Los Angeles.
West Hollywood is a trendy area known for its high-energy nightlife. The fabled Sunset Strip features the Chateau Marmont, a swanky celebrity hideaway, plus comedy clubs and live music venues like the legendary Whiskey a Go Go. Santa Monica Boulevard, awash in rainbow flags, is home to a number of gay bars, dance clubs and shops. WeHo also offers some of the city’s most buzzworthy restaurants.
This listing is courtesy of the listing agent Iman Eshaghyan (#01494608), with the office Coldwell Banker Residential Br.