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Multifamily

1045 N Harper Ave

1045 N Harper Ave, West Hollywood, CA 90046

Listing Price: $6,800,000

Cap Rate
4.37%
Number of Units
15
GRM
14.98
Occupancy
97.0%
Price/Unit
$453,333
Price/Gross SF
$583.29
Gross SF
11,658

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire 1045 N. Harper Avenue, a 15-unit apartment building located in prime West Hollywood, California. The property offers investors a unique value-add opportunity with over 60% of the units being delivered vacant and ready to renovate at the close of escrow.

The subject property, built-in 1963 consists of nine (9) one-bedroom/one-bathroom units, and six (6) two-bedroom/two-bathroom units. The upper floors have incredible views of either the Hollywood Hills, or the City, and select units have private patios. Its 6,981 square foot lot is located within a highly desirable neighborhood in West Hollywood. It is within walking distance to Santa Monica Boulevard and provides convenient access to daily errands, retail, restaurants, and entertainment venues.

The subject property allows an astute investor to acquire an exceptionally well-located property and immediately begin to reposition the asset without the challenges of having to relocate tenants.

Investment Highlights

  • This property is being offered for sale by the original owners
  • The property will be delivered with 10 vacant units at the close of escrow
  • The upper units of this property feature beautiful views of WeHo
  • The property offers tenants excellent walkability
  • Includes gated parking with 15 single spaces
  • On-site laundry facilities

Exclusively Listed By

Listing Price: $6,800,000

Cap Rate
4.37%
Number of Units
15
GRM
14.98
Occupancy
97.0%
Price/Unit
$453,333
Price/Gross SF
$583.29
Gross SF
11,658

Investment Highlights

  • This property is being offered for sale by the original owners
  • The property will be delivered with 10 vacant units at the close of escrow
  • The upper units of this property feature beautiful views of WeHo
  • The property offers tenants excellent walkability
  • Includes gated parking with 15 single spaces
  • On-site laundry facilities

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire 1045 N. Harper Avenue, a 15-unit apartment building located in prime West Hollywood, California. The property offers investors a unique value-add opportunity with over 60% of the units being delivered vacant and ready to renovate at the close of escrow.

The subject property, built-in 1963 consists of nine (9) one-bedroom/one-bathroom units, and six (6) two-bedroom/two-bathroom units. The upper floors have incredible views of either the Hollywood Hills, or the City, and select units have private patios. Its 6,981 square foot lot is located within a highly desirable neighborhood in West Hollywood. It is within walking distance to Santa Monica Boulevard and provides convenient access to daily errands, retail, restaurants, and entertainment venues.

The subject property allows an astute investor to acquire an exceptionally well-located property and immediately begin to reposition the asset without the challenges of having to relocate tenants.

Exclusively Listed By

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