PRICE REDUCED - Value Add 5 Unit WeHo Adj | 2BR Unit Vac.
Value Add 5 Unit WeHo Adj | One 2BR Unit Delivered Vacant
Marketing description
Oakmore Inc., on behalf of ownership, is pleased to exclusively offer for sale the opportunity to acquire the 100% fee simple interest of 829 N Edinburgh Ave, Los Angeles, CA 90046 (the “Property”). The Property consists of a ±3,943 SF building on a ±0.15 acre (±6,550 SF) parcel of land. The Property comprises 5 units: (4) 1 bedroom 1 bath units, and (1) 2 bedroom and 1.75 bath unit….and the 2 bedroom unit will be delivered vacant to allow a buyer to capture market rent. In fact, all units are significantly under market, making this a true value add proposition.
The Property boasts an outstanding location, mere steps from West Hollywood, two blocks east of Crescent Heights Blvd and a block and a half north of Melrose, one of the most trendiest locations in Los Angeles.
Nestled just blocks away from the prime strip of the bustling Santa Monica Boulevard, the Property affords excellent proximity to iconic entertainment, dining, and retail establishments. Santa Monica Blvd is a major thoroughfare and boasts several national retailers and artisan stores, providing easy access to neighborhood amenities for the area’s residents. The Property boasts a walk score of 95/100, so most errands can be accomplished on foot.
Rarely does an investor have the chance to acquire a multi-family property of such distinction in a prime Los Angeles location. 829 N Edinburgh Ave is more than just a property; it's a generational investment opportunity in one of Los Angeles' most desirable neighborhoods. This exclusive offering provides unparalleled potential and long-term appreciation.
Don't miss this exclusive opportunity.
Investment highlights
5 Unit Apartment Building in Prime West Hollywood Adj: Excellent Unit Mix - (4) 1BR/1 BTHS, and (1) 2BRS/1.75BTHS.
Three Separate Garages: The Property has 3 garages, including one double car garage. A new owner could generate additional income for renting these out as dedicated parking or storage.
ADU Potential: As all of the 3 garages are not being used by any tenants they could potentially be turned into ADUs. Please check with appropriate city officials on the requirements..
Units are Separately Metered for Electricity and Gas, and tenants are responsible for Waste.
Current property rents approximately 38% under market.
Occupancy Rates in the WeHo sub market are consistently above 93%
Excellent Demographics and dense infill area with Average Household Income over $160,720 and Median Housing Value of $1,410,000 in a one mile radius. (source SitesUSA).
Desirable asset in West Hollywood Adj: One of Southern California’s most highly competitive and saturated multifamily markets, and one of Los Angeles’s most trendy and iconic areas. Beautiful character with great upside potential.
Steps Away from Santa Monica Blvd: a major thoroughfare that boasts several retailers and artisan stores, such as Soho House, Lan Noodle, Carmel, Mamie, Granville, and Tu Madre.
Walking distance to Pavilions, Trader Joe’s, Target, Best Buy, Ulta, BevMo, and Starbucks.
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