SUCCESS STORY
1031X Completed in a WeHo Off-Market Sale
1016 N Curson Ave.
A Compass Beverly Hills agent, who had an established relationship with the Seller, reached out to KST to get an off-market deal done.
Offering Price
$4,100,000
City
West Hollywood
Current CAP
3.83
Price per unit
$410,000
Lot Size
6,613 SF
1016 n curson
About the Property
This rare opportunity was located just South of Santa Monica Blvd. with a great upside income potential. Offering 8,368 SF of living space with (3) 2-bdrm. and 2-bath units and (7) 1-bdrm. units. Additional property amenities included subterranean parking with 10 spaces, an updated roof in 2015, cosmetic upgrades, and routine pest control.
Offering Price
$4,100,000
Number of Units
10 Units
Bldg. Size
9,148 SF
Price per Foot
$448
Year Built
1964
Market CAP
N/A
Zoning
LARD1.5
Background
Located just south of Santa Monica Blvd and featuring a favorable unit mix with significant rental upside, 1016 N. Curson is a true value-add project. The property features (2) 2-Bdrm. & 2-Bath units and rents are approx. 23% below market rates. A Compass Beverly Hills agent, who had an established relationship with the Seller, reached out to Kenny Stevens Team to get an off-market deal done.
Result
Escrow opened in mid-March with some due diligence obstacles, but we were able to collaborate effectively and get the transaction closed in 45 days. Ultimately, both parties were thrilled to get the deal done at $4,100,000. Presenting a significant opportunity and located in a rental market under consistent demand, our buyer is thrilled with another promising West Hollywood acquisition.
