West Hollywood is also located in Los Angeles County and just like North Hollywood it too is subject to RENT CONTROL. However, West Hollywood’s multifamily income and Duplex property income market is much different than North Hollywood’s. West Hollywood’s proximity to Beverly Hills, uber high end retail, restaurants and entertainment has made the city a playground for the rich and famous. We won’t even speak about Gross Rent Multipliers and CAP Rates in regards to West Hollywood, as investors buying MultiFamily income property here are not focussed on cash flow, but rather steady appreciation. Currently there are 11 multi-million dollar multifamily income properties for sale in West Hollywood, with 5 of these being Duplex Properties, click here to view these now before reading on.
As you can see after clicking the link above, West Hollywood valuations are quite high. It is not unusual to see a Duplex property sell in the $1,500,000 range. To view some Duplex multifamily income properties for sale in North Hollywood under $500,000 please click this live link!
(All property details retrieved from multiple public real estate websites, Information is believed to be accurate, but shall not be relied upon without verification. Accuracy of square footage, lot size and other information is not guaranteed)
West Hollywood is a city in Los Angeles County and is a great place to buy or sell multifamily, duplex, triplex, fourplex and larger commercial apartment properties. Its job industry, conveniences, and attractions make this a great place to live and there is a good market available to buy multifamily rental properties such as duplexes, triplexes, and fourplexes. West Hollywood benefits from a very dense, compact urban form with small lots, mixed land use, and a walkable street grid. According to Walkscore, a website that ranks cities based on walkability, West Hollywood is the most walkable city in California with a Walkscore of 89. West Hollywood does have rent control.
West Hollywood’s population was 34,781 as of 2012. The median household income in 2011 was $48,598 (it was $38,914 in 2000). which is lower than the median for California ($57,287 in 2011).
West Hollywood is notably famous for its unique vibrant commercial corridors, dining, and eccentric nightlife focused on the Sunset Strip, Santa Monica Boulevard, and the Avenues of Art & Design along Robertson, Melrose, and Beverly Boulevard. According to the City’s 2009 Comprehensive Annual Financial Report, the top employers in the city are: Ticketmaster (1,300), Target (411), Mondrian Hotel (400), The London West Hollywood (230), House of Blues (230), Dailey & Associates (209), City of West Hollywood (205), Standard Hotel (189), Gordon Ramsay at the London (340).
The city also enjoys being close to a variety of conveniences. The Los Angeles International Airport (LAX) is only 12 miles away. There are several hospitals in the city, including the Hollywood Community Hospital, Miracle Mile Medical Center and Olympia Medical Center. There are also a number of universities and colleges near West Hollywood, with the biggest being the University of California Los Angeles (UCLA) which has over 37,000 full time enrolled students and is only 4 miles away.
West Hollywood has many attractions, many of them on the Sunset Strip which is famous for clubs and nightlife entertainment. Some of the Music venues include House of Blues, Whisky a Go Go, The Troubadour, The Roxy Theatre and Viper Room. Alta Loma Road is home to the Sunset Marquis Hotel with its famous 45-person Whisky Bar and a recording studio that has been home to many hits. The western stretch of Melrose Avenue, between Fairfax Avenue and Doheny Drive, is notable for its trendy clothing boutiques, interior design shops, restaurants and antique stores. The west end of Melrose Avenue, near the Pacific Design Center, is especially known for its exclusive furniture. The area around Fountain Avenue, Harper Avenue and Havenhurst Drive contains a high concentration of landmark 1920s Spanish Revival and Art Deco apartment buildings by such noted architects as Leland Bryant. This historic district has been home to many celebrities and at one time the Sunset Tower at 8358 Sunset Boulevard was home to Frank Sinatra, Errol Flynn, the Gabor sisters, John Wayne and Howard Hughes.
All of these features make West Hollywood a great city to buy or sell multifamily investment rental properties such as duplexes, triplexes, fourplexes and larger commercial apartment buildings. This vibrant, diverse community has great attractions, a healthy work industry, and a high number of renters. The desirability to live here make it an ideal location for multifamily living and the city does have great duplex, triplex, and fourplex properties.
Also serving other Los Angeles County Cities.This information was gathered from www.weho.org, city-data.com and wikipediaThank you for choosing MultiFamilyOwl.com in your search for a duplex, triplex, fourplex or commercial apartment for sale in West Hollywood.