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Multifamily

8997 Keith Ave

8997 Keith Ave, West Hollywood, CA 90069

Listing Price: $1,995,000

Cap Rate
4.26%
Number of Units
4
GRM
16.37
Occupancy
75.0%
Price/Unit
$498,750
Price/Gross SF
$781.13
Gross SF
2,554

Investment Overview

Marcus and Millichap is pleased to present a four (4) unit apartment building located at 8997 Keith Avenue in West Hollywood, California. The subject property is situated in a prime West Hollywood location, north of Santa Monica Boulevard and east of N Doheny Drive.

West Hollywood is a trendy area known for its high-energy nightlife and eclectic restaurants. 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 n umber of gay bars, dance clubs and shops. WeHo also offers some of the city's most buzzworthy restaurants. The subject property is situated in Norma Triangle, a relatively small neighborhood comprised of single-family homes and apartment buildings. Norma Triangle is the area north of Santa Monica Boulevard, east of N Doheny Drive, and south of Halloway Drive. The Pacific Design Center is located less than a mile south of the subject property and is adjacent to West Hollywood Park and West Hollywood Library. The nearby West Hollywood Park includes grassy grounds, a playground, and a community pool. Norma Triangle provides residents with a plethora of amenities proximate to well-known commercial corridors. This safe little community provides small town charm in the heart of the big city.

Built in 1918, this property contains a great unit mix of two (2) one-bedroom / one-bathroom units and two (2) two-bedroom / two-bathroom units. One (1) one-bedroom unit and one (1) two-bedroom unit have spacious rooftop patios. The units are well-maintained with each unit having in-unit washers and dryers or a dedicated washer and dryer in the laundry room for that specific unit. Equipped with a long gated driveway this complex also offers full on-site parking and a small dedicated laundry room. Tenants will love living just down the street from the Sunset Strip to the north, and Beverly Hills to the west. This pocket allows immediate access to incredible local amenities including the Troubador Theater, Sur Restaurant and Lounge, Soho House, Rocco’s, and Insomnia Cookies.

Situated in a prime West Hollywood location, this offering presents an excellent opportunity for any investor to capitalize on 30-year fixed residential financing to acquire a character, Spanish style asset with strong rental upside potential.

Investment Highlights

  • Prime West Hollywood Location
  • Seller is Willing to Carry First New loan of 70% LTV at 5.5% Interest
  • One Unit Will be Delivered Vacant
  • Situated Just Down the Street from the Sunset Strip to the North & Beverly Hills to the West
  • Character, Spanish Style Architecture
  • Qualifies for 30-Year Fixed Residential Financing
  • Fully Parked On-Site Parking Available
  • Select Units Feature Spacious Rooftop Patios

Exclusively Listed By

Financing By

Multifamily

8997 Keith Ave

Listing Price: $1,995,000

Cap Rate
4.26%
Number of Units
4
GRM
16.37
Occupancy
75.0%
Price/Unit
$498,750
Price/Gross SF
$781.13
Gross SF
2,554

Investment Highlights

  • Prime West Hollywood Location
  • Seller is Willing to Carry First New loan of 70% LTV at 5.5% Interest
  • One Unit Will be Delivered Vacant
  • Situated Just Down the Street from the Sunset Strip to the North & Beverly Hills to the West
  • Character, Spanish Style Architecture
  • Qualifies for 30-Year Fixed Residential Financing
  • Fully Parked On-Site Parking Available
  • Select Units Feature Spacious Rooftop Patios

Investment Overview

Marcus and Millichap is pleased to present a four (4) unit apartment building located at 8997 Keith Avenue in West Hollywood, California. The subject property is situated in a prime West Hollywood location, north of Santa Monica Boulevard and east of N Doheny Drive. West Hollywood is a trendy area known for its high-energy nightlife and eclectic restaurants. 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 n umber of gay bars, dance clubs and shops. WeHo also offers some of the city's most buzzworthy restaurants. The subject property is situated in Norma Triangle, a relatively small neighborhood comprised of single-family homes and apartment buildings. Norma Triangle is the area north of Santa Monica Boulevard, east of N Doheny Drive, and south of Halloway Drive. The Pacific Design Center is located less than a mile south of the subject property and is adjacent to West Hollywood Park and West Hollywood Library. The nearby West Hollywood Park includes grassy grounds, a playground, and a community pool. Norma Triangle provides residents with a plethora of amenities proximate to well-known commercial corridors. This safe little community provides small town charm in the heart of the big city. Built in 1918, this property contains a great unit mix of two (2) one-bedroom / one-bathroom units and two (2) two-bedroom / two-bathroom units. One (1) one-bedroom unit and one (1) two-bedroom unit have spacious rooftop patios. The units are well-maintained with each unit having in-unit washers and dryers or a dedicated washer and dryer in the laundry room for that specific unit. Equipped with a long gated driveway this complex also offers full on-site parking and a small dedicated laundry room. Tenants will love living just down the street from the Sunset Strip to the north, and Beverly Hills to the west. This pocket allows immediate access to incredible local amenities including the Troubador Theater, Sur Restaurant and Lounge, Soho House, Rocco’s, and Insomnia Cookies. Situated in a prime West Hollywood location, this offering presents an excellent opportunity for any investor to capitalize on 30-year fixed residential financing to acquire a character, Spanish style asset with strong rental upside potential.

Exclusively Listed By

Financing By

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