Description

1237 North Orange Grove Avenue, West Hollywood, CA 90046

Price: $3,495,000
Units: 8
Year Built: 1926
Size: 7886
Current Cap Rate: 3.84%
Market Cap Rate: 5.49%
Current GRM: 16.50 
Market GRM: 12.70 
Price per Unit: $436,875

Investment Offering

Stepp Commercial is pleased to present 1237 North Orange Grove Avenue Apartments, a 1920’s Spanish style property located in West Hollywood. With a 93 Walkscore, tenants have easy access to some of the top restaurants and shops on Santa Monica Boulevard and the Sunset Strip. Property features include 7 parking spaces, laundry on-site and community courtyard patio with seating.

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. With only light upgrades completed, the current units are ripe for luxury renovations to achieve market rents.

The building consists of (8) large one-bedroom/one-bathroom units. The units feature hardwood flooring, large windows with ample natural light, modernized kitchens and baths with custom tile, recessed lighting and designer fixtures.

1237 N. Orange Grove Avenue is adjacent to top retail, restaurant venues and is close to a host of cultural and recreational amenities. A remarkable palette of amenity options in the surrounding areas including shopping, dining and entertainment venues in West Hollywood, neighboring Beverly Hills, Westwood and all along the Pacific Coast are only the beginning. The Property is one block north of Santa Monica Boulevard and one block east of Fairfax with only a 15 minute walk to world famous shopping on Melrose Avenue.