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$1,900,000

Beds
5
sq ft
2,288

8985 Keith Ave, West Hollywood, CA 90069

8985 Keith Ave

West Hollywood, CA 90069

  • 29 days on market
We are pleased to present a four (4) unit apartment building located at 8985 Keith Avenue in West Hollywood, California. The subject property is situated in a prime Norma Triangle location, north of Santa Monica Boulevard and east of N Doheny Drive. Built in 1930, this property contains a good unit mix of three (3) one-bedroom / one-bathroom units and one (1) two-bedroom / one-bathroom unit. Select units have been tastefully renovated with new countertops, flooring, in unit washer and dryer machines, and new tiles in the bathrooms. All of the units a re separately metered for gas and electric. This character, Spanish style asset boast two (2) detached buildings giving the residents a strong sense of privacy. This property features fully parked surface parking. The Soft-Story Retrofit has also been completed. The Norma Triangle is home to numerous amazing amenities, some of the closest include amazing stops along Santa Monica Boulevard: Rocco's WeHo, Bottega Louie WeHo, Hauser & Wirth, Dayglow, The Troubadour, WeHo Bistro, Barney's Beanery, and many more. Less than half a mile south, tenants will find outdoor recreation at the West Hollywood Park as well as other trendy destinations such as Revolver Video Bar, Hi Tops Bard, Insomnia Cookies, Salt & Straw, WEHO WHO WHAT WEAR, and others. Located in the prestigious location of Norma Triangle, this offering presents an excellent opportunity for any investor to acquire a Spanish style asset utilizing 30-year fixed residential financing to add multiple ADU units to the center of the property.

Details

Property type

Est. home value

$2,097,367

Property condition

Updated/Remodeled

Lot size

5,370 sq ft

Price per sq ft

$831

Year built

1930

HOA

No

Price History

10/23/2024
CLAW

CLAW #24456297

Listed
$1,900,000
+18.75%
06/08/2017
CRMLS

CRMLS #AR16181681

Sold
$1,600,000

Schools & Community

Neighborhood: 

Norma Triangle

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$897,623
Asking price
$1,900,000
Closing costs (~8% of asking)
-$152,000
Est. remaining loan balance
-$850,377
Cash to seller
$897,623

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Wells Fargo Bank Na

Loan start date

June 2017

Original loan amount

$1,000,000

Est. remaining balance

$850,377

Interest rate

3.97%

Loan type

New Conventional, 30 year

Seller

Rudy Rezzadeh

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 11/22/2024 at 12:25 AM

Listing updated: 10/31/2024 at 8:00 AM

Listed by: Jason Tuvia, Marcus & Millichap Phone #: (818) 212-2700

MLS: CLAW #24456297

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