NOT LISTED FOR SALE

11114 N Gardner St West Hollywood, CA 90046

Hollywood Neighborhood
14 Beds
8 Baths
7,674 Sq Ft
10,413 Sq Ft Lot

Last Sold October 07, 2016

Last sale price $2,850,000 $371 Per Sq Ft

35 Days on Market

Highlights

  • Air Conditioning
  • Central Heating
  • 12 Car Garage

About This Home

As of October 2016

It is extremely rare to find a property of this size in a high quality A West Hollywood location, with units this large and with rents extremely below current market rents. Given these facts, this property presents itself as a true classic value added opportunity.With currents rents at $0.87 Per Sq Ft,this building is currently operating well below its maximum income potential. Competing properties in this sub-market are currently achieving rents in the range of $2.50-3.00 Per Sq Ft. This fact alone makes this Gardner St Asset an excellent opportunity to generate tremendous upside both in income and value to a future investor. That's a real36% upside in rentswith only using market rent assumptions as low as $2.76 PSF. 5 VACANT UNITS! Perfect Value Add Opportunity!

Last Agent to Sell the Property

Arthur Arejian

Arthur Arejian, Broker License #01037335 Listed on: 04/19/2016

Last Buyer's Agent

Arthur Arejian

Arthur Arejian, Broker License #01037335

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1948

Lot Details

  • 10,413 Sq Ft Lot

Parking

  • 12 Car Garage

Interior Spaces

  • 7,674 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 14 Bedrooms
  • 8 Bathrooms

Utilities

  • Air Conditioning
  • Central Heating

Community Details

  • 2 Buildings
  • 8 Units

Listing and Financial Details

  • Assessor Parcel Number 5531-002-002

Property Details

Home Type

Multi-Family

Year Built

Built in 1948

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 7674
  • Stories: 2
  • Year Built: 1948
  • Number Of Photos: 3
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 14
  • Dining Room: 0
  • Family Room: 0
  • Total Bathrooms: 8.00
  • Den: 0
  • Equipment: Refrigerator
  • Price Per S Q F T: 364.22

Exterior Features

  • Tennis Court Y/N: No
  • Pool: No
  • View: No

Garage/Parking

  • Parking Garage: Garage
  • Total Parking: 12

Utilities

  • Cooling: Air Conditioning
  • Heating: Central

Lot Info

  • Assessed Improvement Value: 222698
  • Assessed Land Value: 118402
  • Assessor Parcel Number: 5531-002-002
  • Geocode Override: No
  • Lot Size Area: 10413

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 16.16
  • Number Of Units: 8
  • Total Annual Expense: 51350
  • Type Of Units: Apartments
  • Vacancy Rate: 50

Range of Values:

Collateral Analytics

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ICE

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/07/2016 10/07/16 Sold $2,850,000 +2.0% $371 / Sq Ft
04/19/2016 04/19/16 For Sale $2,795,000 -- $364 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • A

    Seller's Agent in 2016

    Arthur Arejian

    Arthur Arejian, Broker

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Map

Source: The MLS

MLS Number: 16-119576

The MLS
California Los Angeles County West Hollywood 90046 Hollywood

11114 N Gardner St, West Hollywood, CA

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