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.
Price
$
4,100,000
City
West Hollywood
Current Cap Rate
3.83
%
Price P/ 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.
Price
$
4,100,000
City
West Hollywood
Current Cap Rate
3.83
%
Price P/ Unit
$
410,000
Lot Size
6,613
SF
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.
