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1023 N. Hayworth Avenue

1023 N Hayworth Avenue,West Hollywood, CA 90046

9

Unit

$3,400,000

Price

Property Details

Price Per Unit

$377,778

Price per SF

$
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Current Cap Rate

Market Cap Rate

Current GRM

Market GRM

1023 N. Hayworth Avenue

1023 N Hayworth Avenue,West Hollywood, CA 90046

$3,400,000

Price

Property Details

Price per SF

$

Price Per Unit

$377,778

Price per SF

$

Current Cap Rate

Market Cap Rate

Unit

9

Current GRM

Market GRM

Description

Stepp Commercial is proud to present 1023 North Hayworth Avenue, a 9-unit apartment asset in West Hollywood, one of the most desirable submarkets of Los Angeles. Located a half a block south of Santa Monica Boulevard and one block west of Fairfax, 1023 N. Hayworth Avenue tenants enjoy some of the hottest restaurants,  shopping and nightlife within walking distance.

Built in 1959, the property has an advantageous unit mix of (3) two-bedroom/two-bathroom, (5) one-bedroom/one-bathroom units and 1 studio unit. The property has undergone recent improvements including a newer roof and copper plumbing throughout.

Several of the nine units have been completely renovated. The remaining unrenovated units offer investors ±48% upside potential in rents by continuing the renovations. The remodeled units feature hardwood floors, recessed lighting, stainless steel appliances, quartz countertops and in-unit washer and dryers.

Densely packed into 1.9 walkable square miles, West Hollywood includes a vast culinary landscape, the Sunset Strip’s notorious nightlife, designer flagships lining the Design District, celebrity hot spots, global annual events, premier spas, fitness centers and entertainment. With the median price of homes at $1.82 million, 1023 N. Hayworth Avenue is in a highly sought-after location.

Highlights

  • Highly Sought-After West Hollywood Location
  • ±48% Upside Potential in Rents
  • Newly Renovated Units
  • 10 Parking Spaces
  • Copper Plumbing Throughout
  • Newer Roof

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