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8815 Cynthia St
West Hollywood, CA 90069
Cynthia Gardens: No Rent Control in WeHo! · Multifamily Property For Sale
·
21 Units
INVESTMENT HIGHLIGHTS
- Premier West Hollywood location
- Built in 1989: Exempt from West Hollywood Rent Control (Subject to AB 1482)
- 90% very large two-bedroom units
- In the process of being converted to condominiums
- Approx. $1,073,800 spent on apartment renovations / approx. $155,000 spent on common area renovations
- A short stroll to Sunset Blvd., high end dining and nightlife
EXECUTIVE SUMMARY
Jonathan Taksa of the Taksa Investment Group, part of RE/MAX Commercial & Investment Realty, is pleased to present 8815 Cynthia Street, a prestigious opportunity to acquire a property in one of the best rental locations in prime West Hollywood. Built in 1989, the property is NOT subject to the city of West Hollywood’s rent control (AB 1482 does apply). 4 of the units are subject to lower income covenants. The beautiful courtyard property boasts an ideal unit mix consisting of all 19 two-bedroom two bath units and 2 one-bedroom one bath units. Each of the units is extremely spacious, has a terrific floor plan, and offers an abundance of natural light. Additionally, the property is in the process of being converted to condominiums.
Units feature upgraded and luxurious amenities including stainless steel appliances, quartz or granite countertops, fireplaces, vinyl or laminate flooring, spacious kitchens/bedrooms/bathrooms, large balconies/patios, individual water heaters, and central heat and air conditioning. Other property features include secure entry, copper plumbing, 18 camera video system, and gated subterranean parking (an incredible 47 parking spaces for 21 units). 8815 Cynthia Street is regarded as a “Walker’s Paradise” as it features an incredible Walk Score of 92. With such an abundance of parking and an ideal unit mix, the property is well positioned for an investor looking for a condominium conversion project.
This rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier asset in one of the best rental locations in all of Los Angeles.
Units feature upgraded and luxurious amenities including stainless steel appliances, quartz or granite countertops, fireplaces, vinyl or laminate flooring, spacious kitchens/bedrooms/bathrooms, large balconies/patios, individual water heaters, and central heat and air conditioning. Other property features include secure entry, copper plumbing, 18 camera video system, and gated subterranean parking (an incredible 47 parking spaces for 21 units). 8815 Cynthia Street is regarded as a “Walker’s Paradise” as it features an incredible Walk Score of 92. With such an abundance of parking and an ideal unit mix, the property is well positioned for an investor looking for a condominium conversion project.
This rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier asset in one of the best rental locations in all of Los Angeles.
PROPERTY FACTS
| Price Per Unit | $677,183 CAD | Lot Size | 0.41 AC |
| Sale Type | Investment | Building Size | 23,675 SF |
| No. Units | 21 | Average Occupancy | 95% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1989 |
| Apartment Style | Low-Rise | Parking Ratio | 1.99/1,000 SF |
| Building Class | B | ||
| Zoning | LCR4* - Restricted Density Multiple Dwelling Zone | ||
| Price Per Unit | $677,183 CAD |
| Sale Type | Investment |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.41 AC |
| Building Size | 23,675 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built | 1989 |
| Parking Ratio | 1.99/1,000 SF |
| Zoning | LCR4* - Restricted Density Multiple Dwelling Zone |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Microwave
- Storage Space
- Heating
- Kitchen
- Granite Countertops
- Hardwood Floors
- Oven
- Range
SITE AMENITIES
- Controlled Access
- Laundry Facilities
- Gated
- Pet Play Area
- Storage Space
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 15 | - | 1,150 |
| 2+2 | 2 | - | 1,150 |
| 2+2 | 1 | - | 1,150 |
| 2+2 | 1 | - | 1,150 |
| 1+1 | 2 | - | 750 |
PROPERTY TAXES
| Parcel Number | 4339-013-028 | Improvements Assessment | $6,314,496 CAD |
| Land Assessment | $15,786,243 CAD | Total Assessment | $22,100,739 CAD |
PROPERTY TAXES
Parcel Number
4339-013-028
Land Assessment
$15,786,243 CAD
Improvements Assessment
$6,314,496 CAD
Total Assessment
$22,100,739 CAD
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