1204 N Clark St
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1204 N Clark St
4 Unit Apartment Building $2,495,000 ($623,750/Unit) 3.93% Cap Rate West Hollywood, CA 90069
Investment Highlights
- Location! Location! Location!
- R4* Zoned Lot. 6,700+ SF for Redevelopment
- Highly Desirable Generational Property
- Possible Owner User Opportunity with front Unit.
- Located in West Hollywood. North of the Sunset Strip
- Quadraplex - Currently Fully Occupied
Executive Summary
Location! Location! Location! Exceptional investment opportunity nested in the prestigious Hills of West Hollywood. This unique income producing property is north of world famous Sunset Blvd (Sunset Strip) and features (4) four distinct fully rented units on a 6,718 Square foot R4 zoned lot, offering unparalleled potential for continued rental income or redevelopment. The Unit mix consists of (1) 2+2+Den, (1) 2+1.5, (1) 1+1+Den and (1) 1+1 units. Surrounded by Multi million dollar homes, the front 2 bed + 2 bath unit has a den/bonus room, large front patio, in unit laundry, rear balcony, dining area, central HVAC, spacious kitchen and city views, making it perfect for a 'possible' owner-user unit. The property is currently fully occupied with month to month tenants.
The large R4* zoned lot has potential for redevelopment given its desirable location, breathtaking views and expansive lot size. Whether you envision modern luxury condos, exclusive high-end townhomes or apartments, the possibilities with this property are endless. The area is a hot bed for redevelopment. This property boasts stunning views based on the elevation of the lot, serene surroundings with well kept properties, and easy access to the vibrant heart of West Hollywood, Los Angeles and Beverly Hills. The subject property is right below the coveted Bird streets and Trousdale Estates which feature homes in the tens of millions of dollars. Sunset Boulevard in West Hollywood is a dynamic mix of culture, entertainment, and luxury, making it a must-visit destination in Los Angeles. Some of the highlights of the Sunset Strip in West Hollywood include iconic destinations such as The Roxy Theater, The Viper Room, Chateau Mormont, The Comedy Store, Sunset Plaza, Whiskey A Go Go and the Skybar at Mondrian along with some of the best hotels Los Angeles have to offer. This is an incredible opportunity to any astute investor to acquire a generational property that will keep appreciating over time.
The large R4* zoned lot has potential for redevelopment given its desirable location, breathtaking views and expansive lot size. Whether you envision modern luxury condos, exclusive high-end townhomes or apartments, the possibilities with this property are endless. The area is a hot bed for redevelopment. This property boasts stunning views based on the elevation of the lot, serene surroundings with well kept properties, and easy access to the vibrant heart of West Hollywood, Los Angeles and Beverly Hills. The subject property is right below the coveted Bird streets and Trousdale Estates which feature homes in the tens of millions of dollars. Sunset Boulevard in West Hollywood is a dynamic mix of culture, entertainment, and luxury, making it a must-visit destination in Los Angeles. Some of the highlights of the Sunset Strip in West Hollywood include iconic destinations such as The Roxy Theater, The Viper Room, Chateau Mormont, The Comedy Store, Sunset Plaza, Whiskey A Go Go and the Skybar at Mondrian along with some of the best hotels Los Angeles have to offer. This is an incredible opportunity to any astute investor to acquire a generational property that will keep appreciating over time.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
---|---|---|
Gross Rental Income | $143,004 | $42.06 |
Other Income | - | - |
Vacancy Loss | $4,290 | $1.26 |
Effective Gross Income | $138,714 | $40.80 |
Taxes | $29,940 | $8.81 |
Operating Expenses | $10,750 | $3.16 |
Total Expenses | $40,690 | $11.97 |
Net Operating Income | $98,024 | $28.83 |
Financial Summary (Actual - 2024)
Gross Rental Income | |
---|---|
Annual | $143,004 |
Annual Per SF | $42.06 |
Other Income | |
---|---|
Annual | - |
Annual Per SF | - |
Vacancy Loss | |
---|---|
Annual | $4,290 |
Annual Per SF | $1.26 |
Effective Gross Income | |
---|---|
Annual | $138,714 |
Annual Per SF | $40.80 |
Taxes | |
---|---|
Annual | $29,940 |
Annual Per SF | $8.81 |
Operating Expenses | |
---|---|
Annual | $10,750 |
Annual Per SF | $3.16 |
Total Expenses | |
---|---|
Annual | $40,690 |
Annual Per SF | $11.97 |
Net Operating Income | |
---|---|
Annual | $98,024 |
Annual Per SF | $28.83 |
Property Facts
Price | $2,495,000 | Apartment Style | Low Rise |
Price Per Unit | $623,750 | Building Class | C |
Sale Type | Investment | Lot Size | 0.15 AC |
Cap Rate | 3.93% | Building Size | 3,400 SF |
Gross Rent Multiplier | 17.45 | Average Occupancy | 100% |
No. Units | 4 | No. Stories | 2 |
Property Type | Multifamily | Year Built | 1928 |
Property Subtype | Apartment |
Price | $2,495,000 |
Price Per Unit | $623,750 |
Sale Type | Investment |
Cap Rate | 3.93% |
Gross Rent Multiplier | 17.45 |
No. Units | 4 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | C |
Lot Size | 0.15 AC |
Building Size | 3,400 SF |
Average Occupancy | 100% |
No. Stories | 2 |
Year Built | 1928 |
Unit Amenities
- Air Conditioning
- Balcony
- Views
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
2+2 | 1 | $4,635 | - |
2+1.5 | 1 | $3,348 | - |
1+1 | 1 | $2,041 | - |
1+1 | 1 | $1,893 | - |
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Walk Score ®
Walker's Paradise (91)
PROPERTY TAXES
Parcel Number | 5560-023-032 | Total Assessment | $1,547,229 |
Land Assessment | $1,228,032 | Annual Taxes | $29,940 ($8.81/SF) |
Improvements Assessment | $319,197 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
5560-023-032
Land Assessment
$1,228,032
Improvements Assessment
$319,197
Total Assessment
$1,547,229
Annual Taxes
$29,940 ($8.81/SF)
Tax Year
2024
zoning
Zoning Code | WDR4* (R4 - High Density Multifamily Housing & Condos.) |
WDR4* (R4 - High Density Multifamily Housing & Condos.) |
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1204 N Clark St
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