Stats

• Listed Price $2,650,000
• Price per Units $331,250
• Price per SF $418
• Cap Rate 3.59%
• GRM 16.13
• Number of Buildings 1
• Number of Units 8
• Gross Building Area 6,336 SF
• Lot Size 7,750 SF
• Floors 2
• Year Built 1954
• Parking 6 Spaces
• Zoning LAR3-1

About the Property

The Kanner Group is pleased to present 1315 N Poinsettia Place, a 2-story, 8-unit value-add multi-family investment opportunity with +/- 47% rental upside potential, located in the highly desirable West Hollywood/LA Proper submarket of Los Angeles, just west of La Brea Avenue and north of Fountain Avenue.

Built in 1954, the building is comprised of 5 (1+1) and 3 (2+1) units that average approximately 800+ gross square feet. The 6,336 square foot structure is situated on a 7,750 square foot, LAR3-1 zoned lot that includes 6 individual parking spaces in the rear of the property—4 covered garage and 2 uncovered spaces.

The bright/airy units feature large living areas with hardwood floors and room for a dining table. The front facing units are spacious and provide tenants with views and plenty of natural light, and upper rear units offer tenants ample privacy. The building is separately metered for gas & electric and has an on-site laundry room.

With a Walk Score of 94, the property’s West Hollywood/LA Proper location (4 blocks south of the Runyon Canyon Trailhead and just under 2 miles from the 101 FWY) offers residents easy access to the countless shopping, dining, entertainment, and recreation options of West Hollywood, the Sunset Strip, Beverly Hills, and the revitalized Downtown Los Angeles—7.4 miles to the southeast.

The Hollywood/Highland Red Line Metro station is 0.8 miles northeast at the Hollywood/Highland Shopping Mall. The Chinese Theatre, The Hollywood Roosevelt Hotel, El Capitan Theatre, Dolby Theatre, all line Hollywood Blvd. within 1 mile to the northeast of the property. The building is 1.7 miles southwest of the 101 freeway at Highland Ave., adjacent to LA’s premier concert venue— The Hollywood Bowl.

1315 N Poinsettia Pl is well-positioned for a skilled value-add investor to implement a higher-end unit/common area renovation program optimizing market rents, appreciation, and future returns.