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REDUCED: No Rent Control in West Hollywood 8815 Cynthia St 21 Unit Apartment Building $9,995,000 ($475,952/Unit) 4.82% Cap Rate West Hollywood, CA 90069
Investment Highlights
- Premier West Hollywood location
- Built in 1989: Exempt from West Hollywood Rent Control (Subject to AB 1482)
- 90% very large two-bedroom units
- In the process of being converted to condominiums
- Approx. $1,073,800 spent on apartment renovations / approx. $155,000 spent on common area renovations
- A short stroll to Sunset Blvd., high end dining and nightlife
Executive Summary
REDUCED! Jonathan Taksa of the Taksa Investment Group, part of RE/MAX Commercial & Investment Realty, is pleased to present 8815 Cynthia Street, a prestigious opportunity to acquire a property in one of the best rental locations in prime West Hollywood. Built in 1989, the property is NOT subject to the city of West Hollywood’s rent control (AB 1482 does apply). 4 of the units are subject to lower income covenants. The beautiful courtyard property boasts an ideal unit mix consisting of all 19 two-bedroom two bath units and 2 one-bedroom one bath units. Each of the units is extremely spacious, has a terrific floor plan, and offers an abundance of natural light. Additionally, the property is in the process of being converted to condominiums.
Units feature upgraded and luxurious amenities including stainless steel appliances, quartz or granite countertops, fireplaces, vinyl or laminate flooring, spacious kitchens/bedrooms/bathrooms, large balconies/patios, individual water heaters, and central heat and air conditioning. Other property features include secure entry, copper plumbing, 18 camera video system, and gated subterranean parking (an incredible 47 parking spaces for 21 units). 8815 Cynthia Street is regarded as a “Walker’s Paradise” as it features an incredible Walk Score of 92. With such an abundance of parking and an ideal unit mix, the property is well positioned for an investor looking for a condominium conversion project.
This rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier asset in one of the best rental locations in all of Los Angeles.
Units feature upgraded and luxurious amenities including stainless steel appliances, quartz or granite countertops, fireplaces, vinyl or laminate flooring, spacious kitchens/bedrooms/bathrooms, large balconies/patios, individual water heaters, and central heat and air conditioning. Other property features include secure entry, copper plumbing, 18 camera video system, and gated subterranean parking (an incredible 47 parking spaces for 21 units). 8815 Cynthia Street is regarded as a “Walker’s Paradise” as it features an incredible Walk Score of 92. With such an abundance of parking and an ideal unit mix, the property is well positioned for an investor looking for a condominium conversion project.
This rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents and to acquire a premier asset in one of the best rental locations in all of Los Angeles.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$750,531
|
$31.70
|
| Other Income |
$4,773
|
$0.20
|
| Vacancy Loss |
$22,516
|
$0.95
|
| Effective Gross Income |
$732,788
|
$30.95
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$250,793
|
$10.59
|
| Net Operating Income |
$481,995
|
$20.36
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $750,531 |
| Annual Per SF | $31.70 |
| Other Income | |
|---|---|
| Annual | $4,773 |
| Annual Per SF | $0.20 |
| Vacancy Loss | |
|---|---|
| Annual | $22,516 |
| Annual Per SF | $0.95 |
| Effective Gross Income | |
|---|---|
| Annual | $732,788 |
| Annual Per SF | $30.95 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $250,793 |
| Annual Per SF | $10.59 |
| Net Operating Income | |
|---|---|
| Annual | $481,995 |
| Annual Per SF | $20.36 |
Property Facts
| Price | $9,995,000 | Apartment Style | Low-Rise |
| Price Per Unit | $475,952 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.41 AC |
| Cap Rate | 4.82% | Building Size | 23,675 SF |
| Gross Rent Multiplier | 13.23 | Average Occupancy | 100% |
| No. Units | 21 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1989 |
| Property Subtype | Apartment | Parking Ratio | 1.99/1,000 SF |
| Zoning | LCR4* - Restricted Density Multiple Dwelling Zone | ||
| Price | $9,995,000 |
| Price Per Unit | $475,952 |
| Sale Type | Investment |
| Cap Rate | 4.82% |
| Gross Rent Multiplier | 13.23 |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.41 AC |
| Building Size | 23,675 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1989 |
| Parking Ratio | 1.99/1,000 SF |
| Zoning | LCR4* - Restricted Density Multiple Dwelling Zone |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Microwave
- Storage Space
- Heating
- Kitchen
- Granite Countertops
- Hardwood Floors
- Oven
- Range
Site Amenities
- Controlled Access
- Laundry Facilities
- Gated
- Pet Play Area
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 19 | - | 1,150 |
| 1+1 | 2 | - | 750 |
1 1
Very walkable
80/100
Fairly drivable
50/100
Good public transit
70/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 4339-013-028 | Improvements Assessment | $4,551,316 (2025) |
| Land Assessment | $11,378,292 (2025) | Total Assessment | $15,929,608 (2025) |
Property Taxes
Parcel Number
4339-013-028
Land Assessment
$11,378,292 (2025)
Improvements Assessment
$4,551,316 (2025)
Total Assessment
$15,929,608 (2025)
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REDUCED: No Rent Control in West Hollywood | 8815 Cynthia St
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