1123 N Genesee Avenue, West Hollywood, California 90046, West Hollywood, 90046 - 5 bed, 4 bath

1123 N Genesee Avenue, West Hollywood, California 90046 home-pic-0
ACTIVE$1,575,000
1123 N Genesee Avenue, West Hollywood, California 90046
5Beds
4Baths
2,610Sqft
4,916Lot
Year Built
1958
Close
-
List price
$1.57M
Original List price
$1.57M
Price/Sqft
$603
HOA
-
Days on market
-
Sold On
-
MLS number
25519193
Home ConditionGood
Features
ViewCourtyard

About this home

We found 3 Cons,5 Pros. Rank: price - $1.57M(26th), sqft - 2610(60th), beds - 5(86th), baths - 4(64th).

1123 North Genessee Avenue is a single-family home with two additional units in the back of the lot, located in the heart of West Hollywood. This multifamily community offers an exceptional investment opportunity in one of the nation's most sought-after rental markets. The property includes a spacious three-bedroom, two-bathroom single-family home with a private front yard, with an additional two apartment units on the lot, making it ideal for both investors looking for a trophy location investment and potential owner-users. The apartment units also feature a terrific unit mix of a two-bedroom unit, and a one-bedroom unit. With secure, gated access, this residence ensures privacy and safety. The offering also presents significant upside potential through rental increases and value-add enhancements. Situated just steps from Santa Monica Boulevard, the property is surrounded by a vibrant mix of new retail stores, active nightlife, and trendy shops, contributing to its impressive 95 Walk Score designated as a "Walker's Paradise." Residents enjoy unparalleled convenience, with an array of dining, shopping, and entertainment options within walking distance, making this a highly desirable location for tenants and homeowners alike

Price History

Date
Event
Price
06/30/14
Sold
$1,285,000
03/11/13
Sold
$955,000
Condition Rating
Good

Built in 1958, this multi-unit property presents a mixed condition. The main house appears to have undergone a significant renovation within the last 5-15 years, featuring a modern kitchen with white shaker cabinets, stainless steel appliances, subway tile backsplash, and updated bathrooms with contemporary vanities and subway tile. Hardwood floors and recessed lighting are present throughout the main living areas. However, images of the additional units reveal older kitchens with darker, more dated cabinetry and white appliances, as well as bathrooms that are functional but show signs of being 15-30 years old. While the main unit is in excellent, move-in ready condition, the overall property's condition is brought down by the less updated secondary units, aligning it with a 'Good' rating, indicating well-maintained systems and some updated components, but not a full recent renovation across all units.
Pros & Cons

Pros

Premier West Hollywood Location: The property boasts an exceptional 95 Walk Score, situated in the heart of West Hollywood, steps from Santa Monica Boulevard, offering unparalleled access to vibrant retail, dining, and entertainment.
Income-Generating Multifamily Asset: Comprising a 3-bedroom main house and two additional units (2-bedroom and 1-bedroom), this property provides multiple income streams and is positioned in one of the nation's most sought-after rental markets.
Significant Value-Add Potential: The offering explicitly highlights substantial upside potential through rental increases and value-add enhancements, appealing to investors seeking to maximize returns in a high-demand area.
Versatile Owner-User & Investment Opportunity: Ideal for both investors seeking a trophy location and owner-users looking to live in one unit while generating income from the others, offering flexible usage options.
Enhanced Security and Privacy: Features secure, gated access, providing residents with an added layer of privacy and safety in a bustling urban environment.

Cons

Age of Property (1958): Built in 1958, the property may require significant capital expenditure for system upgrades (e.g., plumbing, electrical, HVAC) or cosmetic renovations to meet modern tenant expectations, despite its value-add potential.
Potential for Noise & Traffic: Its prime location in the heart of West Hollywood, surrounded by active nightlife and retail, could expose residents to higher levels of urban noise and traffic congestion.
Limited On-Site Parking & Outdoor Space: With three units on a 4916 sqft lot, there may be challenges with adequate private outdoor space for all units and potentially limited or no dedicated parking, which is a premium in West Hollywood.

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