1110 S. Sierra Bonita Avenue, Los Angeles, CA 90019
Description
Maher Commercial Realty is proud to announce the sale of 1110 S. Sierra Bonita Avenue, a six unit multi-family building located in the prime Mid-Wilshire area of Los Angeles. Unit mix consists of six 1 bed / 1 bath and a large detached four car garage that can be converted into a one or two bedroom ADU. Only half a mile from retail and restaurants along S Fairfax Ave and one mile from the Mid-town Shopping Center.
The property suffered from a large amount of deferred maintenance and low rents.
The Buyer purchased this property in an “all cash” transaction with no contingencies and a five day close of escrow. Maher Commercial Realty represented both Buyer and Seller.
Property Overview
Only $361 per foot, $266K/door, with a true 8.3% pro forma cap rate- this is the BEST value add deal in this market!
Six unit multi-family building located in prime Mid-Wilshire of Los Angeles. The subject site is a major value-add site with approximately 110% upside in rent. Pro Forma cap rate is 8.3%! The unit mix consists of six 1bed / 1 bath and a large detached four car garage (currently not used as parking by any tenants) that can be converted into a one or two bedroom ADU. The units are large at approximately 760 square feet each. Only half a mile from retail and restaurants along S. Fairfax Avenue and one mile from the Mid-Town Shopping Center. Great location close to retail on both La Cienega Blvd. and La Brea Ave. Just 1.1 miles from the Los Angeles County Museum of Art.
Only half a mile from retail and restaurants along S. Fairfax Avenue and one mile from the Mid-Town Shopping Center. Great location close to retail on both La Cienega Blvd. and La Brea Ave. Just 1.1 miles from the Los Angeles County Museum of Art.
Property Features
CAP Rate: 3.4%
Pro-Forma Cap Rate: 8.3%
GRM: 17.66
NOI: $52,753
Lot Size: 5,208 SF
Building Size: 4,420 SF
Price Per Sq. Ft.: $361
Total Units: 6
Price Per Unit: $266,666
Total Bedrooms: 6
Total Bathrooms: 6
Unit Type: 1 Bed, 1 Bath
Parking: 4 Car Garage (currently not used as parking by any tenants)
Zoning: LAR3
Address
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Address 1110 S Sierra Bonita Ave, Los Angeles, CA 90036, USA
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Country United States
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Postal code/ZIP 90036
Overview
- Property ID 1728
- Price $1,400,000.00
- Property Type Multi Family
- Property status Sold
- Zoning LAR3
- Entitlement Status 4 Car Garage
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Contact
Oron Maher
Property Agent
Oron Maher is a leading commercial real estate veteran and the founder of Maher Commercial Realty, a Beverly Hills-based brokerage specializing in investment sales and leasing transactions across all property types within the Greater Los Angeles Area. With nearly two decades of experience representing high-profile buyers and sellers in the region, including major institutions and REITS, private family offices and individual investors, Oron has arranged over a billion dollars in transactions throughout his career and brings a wealth of knowledge, expertise and an unmatched level of client service to the Greater L.A. market. Oron Maher’s firm’s approach includes a customized approach to each opportunity in order to highlight its unique value, leading to record-breaking sales and long-term client relationships. Prior to launching his firm, Oron served as a broker and national sales leader for BRC Advisors. Prior to that, he spent nine years at Coldwell Banker Commercial, where he oversaw a team ranked in the top one percent of commercial brokers in the nation within the Coldwell network. Oron’s extensive experience as a former real estate attorney, investor, developer and community leader has fortified his work in building a successful brokerage in Los Angeles. Oron Maher holds a bachelor’s degree in business management from California State University, Long Beach and a juris doctorate from the San Francisco Law School. Oron’s entrepreneurial approach to Maher Commercial Realty blends his deep knowledge of the industry with a versatile skillset to secure optimal results across the board. An active community member, Oron has served on more than two dozen non-profit and for-profit boards and chaired the real estate section of the Beverly Hills Bar Association. His passion for giving back and empowering young adults and aspiring businesspeople through mentorship, networking and education led Oron to co-create The Maher Foundation, a nine-month fellowship program which provides development opportunities to recent graduates. BRE#01299093