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Multifamily

553 N Flores St

553 N Flores St, West Hollywood, CA 90048

Listing Price: $2,795,000

Cap Rate
5.12%
Number of Units
6
GRM
12.59
Occupancy
3.0%
Price/Unit
$465,833
Price/Gross SF
$394.38
Gross SF
7,087

Investment Overview

Excellent Unit Mix: The property is extremely well balanced when it comes to the unit mix, offering one 1+1, one 2+2, one 3+3, two 3+2’s, and RTI plans for one 2+2 ADU. This diverse unit mix attracts a wide range of tenants, from young professionals to families, ensuring high occupancy rates and reducing vacancy risks. It also mitigates economic risks by appealing to multiple tenant pro?les, enhancing marketability and tenant retention.

Prime Location: Positioned in the heart of West Hollywood, this property isn't just an investment; it's a gateway to Los Angeles' cultural epicenter. Imagine owning a piece of real estate where excitement and convenience converge. From iconic landmarks such as The Grove, Farmers Market, and Melrose Avenue to numerous eclectic boutiques, the allure of this locale translates to high tenant demand and premium rental rates. Nearby restaurants include Catch LA, Sushi Gina Onodera, and Urth Caffe to name a few and the world renowned “Golden Triangle” in Beverly Hills is a short 10 minute drive away!

Walker's Paradise: With a stellar Walk Score of 93, this property caters to the modern lifestyle, where convenience reigns supreme. Tenants revel in the freedom to stroll to nearby attractions, fostering a sense of community and reducing reliance on transportation. As an investor, this translates to higher tenant retention rates and enhanced property desirability.

Stabilized Asset: Seize the opportunity to acquire stabilized asset in this supply-constrained market at an attractive 5.12% CAP Rate. Three of the ?ve units have been extensively renovated, achieving market rents with an in-unit washer and dryer. The seller has gone through the extensive process of getting plans for the ADU approved, helping to increase the rental income potential. Tap into this prime rental market and position yourself for strong ?nancial growth over time.

Desirable Demographics: West Hollywood boasts a robust average household income of nearly 131K within 1 mile of the subject property, re?ecting the area's affluent demographic and strong purchasing power. This economic stability contributes to a favorable investment climate and ensures continued demand for quality rental accommodations.

Opportunity Overview: 553 Flores Ave presents a compelling investment proposition characterized by strong fundamentals, a prime location in the heart of West Hollywood district, exceptional walkability, and promising growth prospects over time. With its solid economic pro?le and strategic positioning, this property embodies a lucrative opportunity for discerning investors seeking to capitalize on the dynamic Los Angeles real estate market.

Investment Highlights

  • Excellent Unit Mix
  • Prime Location
  • Walker's Paradise
  • Stabilized Asset
  • Desirable Demographics
  • Opportunity Overview

Exclusively Listed By

  • Sam Liberow

    Senior Managing Director Investments

    (818) 212-2795

    Email Sam

    License(s): CA: 01933858, CA: 02031850

    Encino

Financing By

Multifamily

553 N Flores St

Listing Price: $2,795,000

Cap Rate
5.12%
Number of Units
6
GRM
12.59
Occupancy
3.0%
Price/Unit
$465,833
Price/Gross SF
$394.38
Gross SF
7,087

Investment Highlights

  • Excellent Unit Mix
  • Prime Location
  • Walker's Paradise
  • Stabilized Asset
  • Desirable Demographics
  • Opportunity Overview

Investment Overview

Excellent Unit Mix: The property is extremely well balanced when it comes to the unit mix, offering one 1+1, one 2+2, one 3+3, two 3+2’s, and RTI plans for one 2+2 ADU. This diverse unit mix attracts a wide range of tenants, from young professionals to families, ensuring high occupancy rates and reducing vacancy risks. It also mitigates economic risks by appealing to multiple tenant pro?les, enhancing marketability and tenant retention. Prime Location: Positioned in the heart of West Hollywood, this property isn't just an investment; it's a gateway to Los Angeles' cultural epicenter. Imagine owning a piece of real estate where excitement and convenience converge. From iconic landmarks such as The Grove, Farmers Market, and Melrose Avenue to numerous eclectic boutiques, the allure of this locale translates to high tenant demand and premium rental rates. Nearby restaurants include Catch LA, Sushi Gina Onodera, and Urth Caffe to name a few and the world renowned “Golden Triangle” in Beverly Hills is a short 10 minute drive away! Walker's Paradise: With a stellar Walk Score of 93, this property caters to the modern lifestyle, where convenience reigns supreme. Tenants revel in the freedom to stroll to nearby attractions, fostering a sense of community and reducing reliance on transportation. As an investor, this translates to higher tenant retention rates and enhanced property desirability. Stabilized Asset: Seize the opportunity to acquire stabilized asset in this supply-constrained market at an attractive 5.12% CAP Rate. Three of the ?ve units have been extensively renovated, achieving market rents with an in-unit washer and dryer. The seller has gone through the extensive process of getting plans for the ADU approved, helping to increase the rental income potential. Tap into this prime rental market and position yourself for strong ?nancial growth over time. Desirable Demographics: West Hollywood boasts a robust average household income of nearly 131K within 1 mile of the subject property, re?ecting the area's affluent demographic and strong purchasing power. This economic stability contributes to a favorable investment climate and ensures continued demand for quality rental accommodations. Opportunity Overview: 553 Flores Ave presents a compelling investment proposition characterized by strong fundamentals, a prime location in the heart of West Hollywood district, exceptional walkability, and promising growth prospects over time. With its solid economic pro?le and strategic positioning, this property embodies a lucrative opportunity for discerning investors seeking to capitalize on the dynamic Los Angeles real estate market.

Exclusively Listed By

  • Sam Liberow

    Senior Managing Director Investments

    (818) 212-2795

    Email Sam

    License(s): CA: 01933858, CA: 02031850

    Encino

Financing By

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