7949 Romaine Street

West Hollywood, CA 90046

$3,500,000
Last Sold Price
14
Beds
12
Baths
9,592 Sq. Ft.
$365 / Sq. Ft.
9,592
Sq. Ft.
$365
per Sq. Ft.

Description

7949 Romaine Street, a 12-unit value-add investment property located in one of the trendiest neighborhoods of West Hollywood. Located 1 block south of Santa Monica Boulevard, the property is adjacent to some of the most popular shopping, dining and nightlife destinations along Santa Monica Blvd. and Fairfax Ave. Built in 1955, the 9,592 SF two-story building is comprised of (2) 2-bdrm. and 1-bath units and (10) one-bdrm. and one-bath units. Please note, 2 units will be delivered vacant upon COE....7949 Romaine Street, a 12-unit value-add investment property located in one of the trendiest neighborhoods of West Hollywood. Located 1 block south of Santa Monica Boulevard, the property is adjacent to some of the most popular shopping, dining and nightlife destinations along Santa Monica Blvd. and Fairfax Ave. Built in 1955, the 9,592 SF two-story building is comprised of (2) 2-bdrm. and 1-bath units and (10) one-bdrm. and one-bath units. Please note, 2 units will be delivered vacant upon COE. These bright and spacious units average approx. 800 SF. Additionally, the units present a significant value-add opportunity to investors, as current rents are approx. 90% below market value for nicely remodeled units in the area. 7949 Romaine Street allows investors to acquire a phenomenal multifamily building in a prime location of one of LA's hottest rental markets, while having substantial financial upside.

Listing Agents

  1. Kenny Stevens Team

    Kenny Stevens Team

    Listing Agent

    Compass

    DRE #01090251

  2. Kenny Stevens

    Kenny Stevens

    Listing Agent

    Compass

    DRE #01090251

Property Details for 7949 Romaine Street

Zoning
WDR3C*
Cross Streets
N. Hayworth Avenue and Romaine Street
Parcel Number
5529014034
Total Units
12.0
Living Area
9592
Source Living Area
Other
Area
West Hollywood Vicinity (C10)
Vacancy Rate
2 Units

Location

Listing Courtesy of Compass, Kenny Stevens Team, DRE #01090251; Compass, Kenny Stevens, DRE #01090251; Major Properties, Bradley Luster, DRE #00913803

Sold By Kidder Mathews of California, Inc., Michael Monempour, DRE #01996829

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LISTING UPDATED: 01/07/2022 02:36 PM

Property Details for 7949 Romaine Street

StatusSold
MLS #21-103833
Days on Market48
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1955
Lot Size0.14 AC / 6,202 SF
CountyLos Angeles County

Location

Listing Courtesy of Compass, Kenny Stevens Team, DRE #01090251; Compass, Kenny Stevens, DRE #01090251; Major Properties, Bradley Luster, DRE #00913803

Sold By Kidder Mathews of California, Inc., Michael Monempour, DRE #01996829

Add your commute

Virtual Tour

Building Information for 7949 Romaine Street

Stories2Residences-Year Built1955Building Size-Lot Size0.14 AC / 6,202 SF

Payment Calculator

$22,907 per month

30 year fixed, 7.25% Interest

Principal and Interest

$19,101

Property Taxes

$3,806

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 7949 Romaine Street

Community / Development
Community / Development
  • Number Of Units: 12
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartments
  • View: No
  • View Description: None
  • View: None
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $170,399
  • Net Operating Income: $86,553.00
  • Gross Income: $174,768
  • Gross Rent Multiplier: $22.26
  • Financial Info as Of: 11/09/2021
  • Total Annual Expense: 83846
Land / Lot Info
Land / Lot Info
  • Lot Size Square Feet: 6202
Parking Details
Parking Details
  • Parking Garage: Covered Parking, Gated
  • Total Parking: 8
  • Covered Parking: 8
  • Parking Features: Covered, Gated
Interior Features
Interior Features
  • Cooling Type: Wall Unit(s)
  • Heating: Wall Furnace
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 11-09-2021
  • Rent Control: Yes
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,750.00
  • Unit Actual Rent: $2,750.00
  • Unit Projected Rent: $2,750.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,250.00
  • Unit Actual Rent: $2,250.00
  • Unit Projected Rent: $2,250.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,850.00
  • Unit Actual Rent: $1,850.00
  • Unit Projected Rent: $2,250.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,628.00
  • Unit Actual Rent: $1,628.00
  • Unit Projected Rent: $2,250.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,144.00
  • Unit Actual Rent: $1,144.00
  • Unit Projected Rent: $2,250.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,133.00
  • Unit Actual Rent: $1,133.00
  • Unit Projected Rent: $2,250.00
  • Like Units: 1
Unit 7 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,016.00
  • Unit Actual Rent: $1,016.00
  • Unit Projected Rent: $2,250.00
  • Like Units: 1
Unit 8 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $620.00
  • Unit Actual Rent: $620.00
  • Unit Projected Rent: $2,250.00
  • Like Units: 1
Unit 9 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $547.00
  • Unit Actual Rent: $547.00
  • Unit Projected Rent: $2,250.00
  • Like Units: 1
Unit 10 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $547.00
  • Unit Actual Rent: $547.00
  • Unit Projected Rent: $2,250.00
  • Like Units: 1
Unit 11 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $547.00
  • Unit Actual Rent: $547.00
  • Unit Projected Rent: $2,250.00
  • Like Units: 1
Unit 12 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $412.00
  • Unit Actual Rent: $412.00
  • Unit Projected Rent: $2,750.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113, 2114, 2115, 2116, 2117

Property History for 7949 Romaine Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 7949 Romaine Street

Taxable ValueLand$2,652,000Additions$918,000Total$3,570,000
Tax Record2023$45,671 ($3,806 / month)
Home Facts
Total Finished SqFt9,592 SqFtAbove Grade Finished SqFt9,592 SqFtLot Size6,202 SqFtStyleMulti-Family Res (5+ Units)Year Built1955ZoningWDR3C*CountyLOS ANGELESAPN5529-014-034

Schools near 7949 Romaine Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 9 to 12
Public - 7 to 12
Public - 9 to 12
Rating
School
Distance
Laurel Elementary School
PublicK to 8

Fairfax Senior High School
Public9 to 12

West Hollywood Opportunity School
Public7 to 12

Whitman Continuation School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Compass, Kenny Stevens Team, DRE #01090251; Compass, Kenny Stevens, DRE #01090251; Major Properties, Bradley Luster, DRE #00913803

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.