Property Details

Price $12,950,000

Year Built 1988

# of Units 30

Price P/ Unit $431,667

Sq. ft. 25,014 SF

Price p/ Sq. ft. $518

Current Cap Rate 3.88%

Proforma Cap Rate 5.96%

Lot Size 13,566 SF

Zoning LAR3

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About the Property

1317 N. Vista is a 30 unit courtyard-style complex, built in 1988, is located just north of Fountain Ave (between Fairfax and La Brea) and adjacent to the city of West Hollywood. Please note, this property is not subject to LA City rent control. This allows for an annual rent increase of 5% plus Consumer Price Index (CPI), currently 10%. Based on market rents for renovated units in the area, this substantial value-add property offers approx. 34% upside in rents. The property features an enticing unit mix comprised of (18) 2-bdrm. and 2-bath units, (6) 1-bdrm. units and (6) studio units. Each bright and spacious unit, approx. 800 SF, features a fireplace and a balcony. All units have central air conditioning, except for the studio units, which have wall units. Property amenities include two parking garages with approx. 51 parking spaces, laundry room on every floor, elevator, controlled access and an entry lobby.

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