Multifamily

1040 Genesee

1040 N Genesee Ave, West Hollywood, CA 90046

Listing Price: $2,100,000

Cap Rate
3.81%
Number of Units
6
Price/Unit
$350,000
Price/Gross SF
$437.50
Gross SF
4,800

Investment Overview

THG Multifamily has been exclusively retained by Ownership to offer for sale 1040 Genesee (the “property”), a six-unit multifamily building located one block south of Santa Monica boulevard on the east side of North Genesee Avenue in the highly sought after City of West Hollywood. The property has been has been owned by the same family for almost 40 years and has never been available for purchase until now. This rare opportunity offers investors the ability to acquire a strategically located property in the heart of West Hollywood, ripe for repositioning with tremendous upside potential.

Investment Highlights

  • Owned by the same family for over 40 years, truly a generational investment.
  • Located in West Hollywood, one of the most sought after rental markets for investment.
  • Two blocks from Santa Monica Boulevard and Fairfax Avenue, just steps to Whole Foods and an array and restaurants, nightlife and other urban amenities
  • Advantageous unit mix of one and two bedroom floorplans.
  • 1040 Genesee is ripe for renovation with renovated one bedrooms in the area commanding $2,150 and two bedrooms achieving $2,900— nearly 40% higher than the Property's average inplace rents.
  • West Hollywood is one of the most supply constrained markets in Greater LA.

Exclusively Listed By

Listing Price: $2,100,000

Cap Rate
3.81%
Number of Units
6
Price/Unit
$350,000
Price/Gross SF
$437.50
Gross SF
4,800

Investment Highlights

  • Owned by the same family for over 40 years, truly a generational investment.
  • Located in West Hollywood, one of the most sought after rental markets for investment.
  • Two blocks from Santa Monica Boulevard and Fairfax Avenue, just steps to Whole Foods and an array and restaurants, nightlife and other urban amenities
  • Advantageous unit mix of one and two bedroom floorplans.
  • 1040 Genesee is ripe for renovation with renovated one bedrooms in the area commanding $2,150 and two bedrooms achieving $2,900— nearly 40% higher than the Property's average inplace rents.
  • West Hollywood is one of the most supply constrained markets in Greater LA.

Investment Overview

THG Multifamily has been exclusively retained by Ownership to offer for sale 1040 Genesee (the “property”), a six-unit multifamily building located one block south of Santa Monica boulevard on the east side of North Genesee Avenue in the highly sought after City of West Hollywood. The property has been has been owned by the same family for almost 40 years and has never been available for purchase until now. This rare opportunity offers investors the ability to acquire a strategically located property in the heart of West Hollywood, ripe for repositioning with tremendous upside potential.

Exclusively Listed By

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