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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.

Attachments

545267835_110

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
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 -
Walk Score ®
Walker's Paradise (91)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

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.)
  • Listing ID: 34008039

  • Date on Market: 11/26/2024

  • Last Updated:

  • Address: 1204 N Clark St, West Hollywood, CA 90069

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