For Sale
$5,500,000

1248 Crescent Heights Blvd West Hollywood, CA 90046

Prime location, 12 units, 4.45% cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
127
This exceptional multifamily investment opportunity presents a rare chance to acquire a 12-unit apartment building situated in the highly desirable West Hollywood, California. Located at 1248 N Crescent Heights Blvd, 90046, this property boasts a substantial 14,592 square feet on a 14,827 square foot lot. The two-story building, constructed in 1950, offers significant potential for value appreciation. Currently zoned R4B, the property presents the possibility of adding more units, subject to city approvals. The asking price is $5,500,000, representing a compelling 4.45% capitalization rate. The building is currently comprised of 12 units, 11 of which are vacant, providing a unique opportunity for immediate renovation and rent optimization to achieve market rates with minimal disruption. This presents a significant advantage for investors seeking to maximize returns. This prime West Hollywood location offers exceptional access to local amenities, transportation, and a vibrant lifestyle. This is a truly remarkable opportunity for discerning investors seeking a high-return, low-risk investment in a sought-after market.

Highlights

  • $5,500,000 asking price.
  • Multifamily apartment building with 12 units.
  • 14,592 square feet on a 14,827 square foot lot.
  • 4.45% cap rate.
  • Two-story building constructed in 1950, with renovations completed in 2002.
  • R4B zoning.

Property Details for 1248 Crescent Heights Blvd

Property type
Apartment buildings
Square Feet
14,592 SF
Year Built/Renovated
1950/5554
Buildings
1
Stories
2
Units
12

Location Insight

City
West Hollywood
County
Los Angeles
State
California
Latitude
34.0932998
Longitude
-118.3654795
1248 Crescent Heights Blvd, West Hollywood, California

FAQs

What type of property is this?
Apartment building - Prime location, 12 units, 4.45% cap rate.
Where is the apartment building located?
The property is located at 1248 Crescent Heights Blvd West Hollywood, CA.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: $5,500,000 asking price.; Multifamily apartment building with 12 units.; 14,592 square feet on a 14,827 square foot lot.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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1248 Crescent Heights Blvd
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