1152 N Poinsettia Pl Apartments
Immediate cash flow + strong fundamentals; 20 units value-add; prime West Hollywood
Marketing description
1152 N Poinsettia Pl is a 20-unit multifamily asset in the heart of West Hollywood, offering durable in-place income today with a clear path to meaningful upside through a value-add program. Built in 1960, the property totals 13,404 SF on an 11,602 SF lot and is currently generating $451,213 in scheduled gross rental revenue. The building features a highly desirable 1:1 parking ratio (20 spaces), on-site laundry (4 washers / 4 dryers), refreshed landscaping (2024), and gated/security features including cameras and exterior lighting.
Investment highlights
Value-add upside is driven by mark-to-market rent growth (OM indicates ~25% below market) plus multiple ancillary income levers. A standout opportunity is an existing ~550 SF storage space with kitchen/bath/plumbing/AC/windows/fire sprinklers that may be convertible to a legal ADU (21st unit) (buyer to verify). The property is individually metered for electricity with additional NOI upside potential through RUBS/utilities reimbursements (buyer to confirm), plus laundry and other income streams. The location supports long-term demand with a Walk Score of 92, just 0.4 miles to Melrose Ave and 0.7 miles to Target/Pavilions.
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