1041 N Stanley Avenue

1041 N Stanley Avenue, West Hollywood, CA 90046

Sale Price

$2,895,000

Investment Overview

Units

8

Year Built

1957

The Offering

Stepp Commercial is proud to present 1041 North Stanley Avenue, an 8-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 five blocks east of Fairfax, 1041 North Stanley Avenue tenants enjoy some of the hottest restaurants, shopping and nightlife within walking distance.

Built in 1957, the property has an advantageous unit mix of (5) two-bedroom/two-bathroom and (3) one-bedroom/one-bathroom units with 8 parking spaces.

This asset offers an investor a rare opportunity to own a value-add apartment asset in a class A location and neighborhood in West Hollywood. The current units are ripe for luxury renovations and offer a ±35% upside potential in rental income.   

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, 1041 North Stanley Avenue is in a highly sought-after location.

Investment Highlights

  • Motivated Seller – Present All Offers
  • Stellar West Hollywood location with 95 Walk score
  • Value add opportunity with +/-35% upside potential in rents
  • Priced at 6% Cap rate & 11.7 GRM with rents at market
  • 8.5% Cash-on-cash return with rents at market