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Multifamily

Terraces at La Cienega

West Hollywood, CA

42 Units

Built in 1990

Value Add

Investment Highlights

  • OFFERED BY THE ORIGINAL DEVELOPER  - Held by same family that developed the Property over 30 years ago.
  • THE PERFECT CANVAS TO DELIVER A UNIQUE LIVING EXPERIENCE - Rare for an infill, building constructed in the 90's, the Property provides 9' ceilings, fireplaces, in-unit washer/dryer hookups and more.
  • STEPS TO THE BEATING HEART OF WEST HOLLYWOOD - The Sunset Strip is the benefactor over $2 billion in development in the last 5 years and another $1 billion in the pipline.
  • A PEER SET THAT POINTS TO OVER 110% UPSIDE - Data from the limited communities that have capitalized on the embedded demand for ultra-luxury rental living point to over 110% of both operational and renovation upside at Terraces at La Cienega.
  • NEW ADU LAWS PROVIDE A STREAMLINED PATH TO ADDING DENSITY - While development in the region is generally difficult, development in West Hollywood is especially challenging with projects like 8500 Sunset, The Pendry, and 1 Hotel taking more than 15 years to come online. With the recent ADU Laws, the West Hollywood entitlement process can be circumvented with a state mandated 60 day ministerial approval process that allows for a 25% increase in density.

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