Bright dining room at 2016 vista del mar, featuring a wooden table, chairs, potted plant, and decorative wall art.

SUCCESS STORY

$600,000 Per Unit Sale in the Hollywood Hills

2016 Vista Del Mar Ave.

This dynamic partnership got the job done again. This sale is the highest per unit sale for RSO properties in Hollywood since the pandemic.

Offering Price
$3,600,000

City

Hollywood Hills

Current CAP

5.47

Price per unit

$600,000

Lot Size

12,197 SF

2016 vista del mar

About the Property

2016 Vista del Mar was a meticulously-renovated boutique bungalow compound in the Hollywood Hills. The property consisted of 6 bungalow-style units that are fully renovated to the studs, and offers luxurious amenities catering to high-income renters, and a central location for living the LA lifestyle so many dream about. The property was renovated by AIH Development, a prominent Los Angeles developer bringing elevated and upscale residential design/amenities to this turnkey project. From stucco to windows, doors, roofs, water lines, sewer, electrical, and HVAC, each structure has been meticulously rebuilt with energy efficiency, longevity, and ease of maintenance in mind.

Offering Price

$3,600,000

Number of Units

6 Units

Bldg. Size

4,612 SF SF

Price per Foot

$781

Year Built

b

Market CAP

5.47

Zoning

LAR3

Background

Initially listed by Courtney Pickard of Bryant\Reichling, a trusted Compass team known for their expertise in Hollywood and Northeast LA, the property had ambitious pricing goals. To maximize results, Bryant\Reichling partnered with us , building on our record-setting Silver Lake sale in 2023 - a sales record for rent-controlled fourplexes (click here for the full success story). The collaboration between Kenny Stevens Team, Bryant\Reichling, and Compass delivered unparalleled exposure for the property across Southern California's residential and multifamily markets.

Bright dining room at 2016 vista del mar, featuring a wooden table, chairs, potted plant, and decorative wall art.
Bright dining room at 2016 vista del mar, featuring a wooden table, chairs, potted plant, and decorative wall art.
Bright dining room at 2016 vista del mar, featuring a wooden table, chairs, potted plant, and decorative wall art.

Result

With its meticulous updates and premium location, 2016 Vista del Mar was bound to garner interest. Beyond traditional marketing platforms, our 2 email campaigns to approx. 18,000 investors and agents averaged approx. 6,000 opens per campaign (30% open rate) and 350 OM views (2% click rate). Ultimately, we identified the elusive 'needle in a haystack' buyer: a local investor who had been tracking the property for months. In a 1031X, the buyer sought a "hands off" investment with minimal management responsibilities. After a seamless 60-day escrow, the property sold for $3,600,000, achieving the HIGHEST PER UNIT SALE FOR RSO (RENT-STABILIZED) PROPERTIES IN HOLLYWOOD SINCE THE PANDEMIC.

Modern kitchen at 2016 vista del mar, with light wood cabinetry, stainless steel appliances, and a bright window.
Modern kitchen at 2016 vista del mar, with light wood cabinetry, stainless steel appliances, and a bright window.
Modern kitchen at 2016 vista del mar, with light wood cabinetry, stainless steel appliances, and a bright window.

Here You Find All The Things We Do at One Place

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Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.

© Copyright 2024.

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.

© Copyright 2024.

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.

© Copyright 2024.

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.

© Copyright 2024.