Classic 1909 Craftsman Style House With Separate ADU Rental Unit

This gorgeous and unique centrally located West Hollywood property includes two units.  It is a legal duplex that is zoned WDR3B with a lot size of 7,153 sq ft and total improvement size of 3,368 sq ft.

The front house is a classic 1909 craftsman home that features 4 bedrooms + 2 bathrooms with 2,268 sq ft.  It has been completely renovated in keeping with the original architecture and style.  It features vaulted ceilings, a fireplace and plenty of storage.  It includes multi-zone heating and cooling, dishwasher, garbage disposal, microwave, range/oven, refrigerator, washer/dryer, and 5-parking spaces. Outside features large fenced front and back yards and a front porch with mature landscaping. This main house will be delivered vacant.  Projected rent is $6,550 per month.

The back rental unit/ADU. It was originally the carriage house and was completely rebuilt in 2010.  It is a 2 bedroom + 2 bathroom townhouse style apartment with 1,100 sq ft.  All permits provided by the City of West Hollywood. This unit comes with a tenant that currently pays $2,700 per month.

Options:

1.      Owner/User Option: Live in Front House and Rent Back Unit
Current rent of back unit is $2,700 per month. Projected rent is $3,500 per month.
Total Projected Yearly Income of Back Unit Rental: $32,400 and Projected Yearly Income: $42,000 per year.

2.      Investment Property: Rent Front House and Rent Back Unit
Project rent of the front house is $6,500 per month and $78,000 per year.
Projected rent is $3,500 per month and $42,000 per year.
Total Projected Yearly Income: $120,000

3.      Development: Per the City of West Hollywood, the WDR3B zoning allows up to 5 luxury condo to be built with a 35 ft setback and 3 stories.  However, if a developer includes one low-income unit, the city will allow up to 9 luxury units.

Contact us to obtain a pro forma.

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