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7949 Romaine St

West Hollywood, CA 90046
  • $3,890,000
  • STATUS: Active Under Contract
  • ON SITE: 28 Days
  • MLS #: 21-103833
Under Contract
UPDATED: 57 min ago
$3,890,000
  • 14
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 9,592
    SQFT
  • $406
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1955
County:

School Ratings & Info

Description

7949 Romaine Street, a 12-unit value-add investment property located in one of the trendiest neighborhoods of West Hollywood. Located 1 block south of Santa Monica Boulevard, the property is adjacent to some of the most popular shopping, dining and nightlife destinations along Santa Monica Blvd. and Fairfax Ave. Built in 1955, the 9,592 SF two-story building is comprised of (2) 2-bdrm. and 1-bath units and (10) one-bdrm. and one-bath units. Please note, 2 units will be delivered vacant upon COE. These bright and spacious units average approx. 800 SF. Additionally, the units present a significant value-add opportunity to investors, as current rents are approx. 90% below market value for nicely remodeled units in the area. 7949 Romaine Street allows investors to acquire a phenomenal multifamily building in a prime location of one of LA's hottest rental markets, while having substantial financial upside.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-08T18:43:28.007. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.haciendagroupinc.com/homes/123169289
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7949 Romaine St West Hollywood, CA 90046

  • Price: $3,890,000
  • Status: Active Under Contract
  • On Site: 28 Days
  • Updated: 57 min ago
  • MLS #: 21-103833
14
Beds
0
Baths
0
½ Baths
N/A
Acres
9,592
SQFT
$406
$/SQFT
1955
Built
Neighborhood:
West Hollywood Vicinity
County:
Los Angeles
Area:
West Hollywood Vicinity
Property Description
7949 Romaine Street, a 12-unit value-add investment property located in one of the trendiest neighborhoods of West Hollywood. Located 1 block south of Santa Monica Boulevard, the property is adjacent to some of the most popular shopping, dining and nightlife destinations along Santa Monica Blvd. and Fairfax Ave. Built in 1955, the 9,592 SF two-story building is comprised of (2) 2-bdrm. and 1-bath units and (10) one-bdrm. and one-bath units. Please note, 2 units will be delivered vacant upon COE. These bright and spacious units average approx. 800 SF. Additionally, the units present a significant value-add opportunity to investors, as current rents are approx. 90% below market value for nicely remodeled units in the area. 7949 Romaine Street allows investors to acquire a phenomenal multifamily building in a prime location of one of LA's hottest rental markets, while having substantial financial upside.
Exterior Features

Covered Parking 8 Cross Streets N. Hayworth Avenue And Romaine Street Lot Size Area 6202 Other Structures None Parking Garage Covered ParkingGated Pool Description None Pool YN No Total Parking 8 View Description None View YN No

Interior Features

Baths Total 12.00 Common Walls Attached Cooling Wall Unit(S) Equipment Other Heating Wall Laundry Community

Property Features

Gross Income 174768 Gross Operating Income 170399 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Like Units6 1 Net Operating Income 86553.00 Number Of Buildings 1 Number Of Units 12 Rent Control YN Yes Sale Type Standard Source Living Area Other Source Lot Size Area Other Total Annual Expense 83846 Type Of Units Apartments Year Built Source Vendor Enhanced Zoning Wdr3c*

Listing provided courtesy of Kenny Stevens DRE#01090251 of Compass.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-08T18:43:28.007. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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