40-Unit Rent-Controlled West Hollywood Property Sells for $10.1M

A West Hollywood Apartment Building Fetches $10.1 Million at Auction

A multifamily property in the heart of West Hollywood has recently sold for a ample $10.1 million. The sale reflects the ongoing demand for real estate in this highly sought-after neighborhood, known for its vibrant culture, trendy boutiques, and proximity to major entertainment hubs.

Prime Location and Renovation Potential Draw Buyers

The property’s prime location and potential for renovation proved to be major selling points. Buyers saw the opportunity to capitalize on the area’s desirability and transform the building into a modern, luxurious residence.

Insights from the Broker: A Q&A with Newmark’s Anthony Muhlstein

To gain further insight into this lucrative sale, we spoke with Anthony Muhlstein, a broker at Newmark, who played a key role in the transaction. “The sale of this West Hollywood property demonstrates the continued strength of the multifamily market in Los Angeles,” shared Muhlstein.

West Hollywood Apartment Complex Charms New Owners at $10.1 Million

A standout apartment building in the heart of West Hollywood has recently changed hands for a cool $10.1 million. The 40-unit complex, situated at the desirable address of 1260 Hayworth Avenue, sold for an impressive $252,000 per unit.

A Prime Piece of Real Estate

The sale was expertly orchestrated by a team from Newmark,a leading real estate firm. Senior Managing Director Chris Benton, Managing Director Anthony Muhlstein, Senior Analyst Gabe Munson, and Co-head of U.S. capital Markets Kevin Shannon, all played key roles in representing the seller. The buyer, eager to invest in this thriving neighborhood, was none other than The Festival Companies.

west Hollywood Remains a Hot Spot for Renters

Despite recent shifts in the real estate market, West Hollywood continues to be a highly desirable area for renters. The recent sale of 1260 Hayworth, according to real estate expert Muhlstein, highlights this enduring appeal, fetching a price that reflects the current market conditions. “1260 Hayworth was sold at a compelling value, reflecting the current dynamics of the shifting capital markets habitat,” Muhlstein noted. “Despite these challenges, West Hollywood continues to thrive as a premier rental market. Its location at the epicenter of Los Angeles’ entertainment,nightlife,and employment hubs is undeniable.”

Prime Location Potential

A property’s desirability frequently enough hinges on two key factors: its location and the possibilities it holds for improvement. This is particularly true when considering a structure built with just HTML. Such sites, though simple in design, can benefit greatly from strategic placement and thoughtful enhancements. Think of it like this: a prime location can draw attention, foot traffic, and even higher search engine rankings, much like a storefront on a bustling street. together, the opportunity to renovate – to add engaging content, optimize for ease of navigation, and integrate multimedia elements – is akin to transforming that storefront into an inviting and successful business. “A simple HTML site like you are talking about in theory shoudl do great as far as SEO goes because of how light-weight it will be. I think one…” [[1](https://webmasters.stackexchange.com/questions/137312/is-an-html-only-website-a-problem-for-seo)] Ultimately, a well-placed, well-designed HTML site, much like a strategically located and renovated property, has the potential to thrive. Discover the ultimate urban oasis at 1260 Hayworth Avenue, perfectly positioned between the vibrant Sunset Boulevard and the trendy Santa Monica Boulevard. This stunning address offers residents a tranquil retreat in a beautifully landscaped courtyard setting. Yet,it’s just steps away from the heart of west Hollywood,granting you effortless access to the area’s most coveted dining,shopping,and entertainment destinations. This vibrant neighborhood offers residents an unrivaled lifestyle, with some of the city’s most iconic destinations right at their doorstep. Imagine strolling down the legendary Sunset Strip, soaking up the electric energy of live music venues and trendy bars. Or perhaps you’d prefer a leisurely afternoon browsing the designer boutiques and art galleries along Santa Monica Boulevard. And let’s not forget Fairfax Avenue, a haven for streetwear enthusiasts and foodies alike, with its eclectic mix of self-reliant shops and acclaimed restaurants. Living here means having world-class dining, shopping, and entertainment just a stone’s throw away, making it a truly enviable location.

Prime West Hollywood Property Attracts 1031 Buyer

A recent real estate transaction in West Hollywood highlights the allure of rent-controlled properties for savvy investors. According to industry insider, Munson, the property presented a unique opportunity for a 1031 buyer seeking to defer capital gains taxes. “This rent-controlled asset offered a compelling possibility for our 1031 buyer,” explained Munson. “The property provides notable upside potential through renovations and benefits from its prime location in West Hollywood, a historically low-trade market with manny generational owners.” Munson’s insight underscores the appeal of West Hollywood real estate,particularly properties with long-term rental income potential. The area’s desirability coupled with the tax advantages of a 1031 exchange make this type of investment particularly attractive.

Prime West Hollywood Property Attracts 1031 Buyer

A recent real estate transaction in West Hollywood highlights the allure of rent-controlled properties for savvy investors. According to industry insider, Munson, the property presented a unique opportunity for a 1031 buyer seeking to defer capital gains taxes. “This rent-controlled asset offered a compelling possibility for our 1031 buyer,” explained Munson.”The property provides notable upside potential through renovations and benefits from its prime location in West Hollywood, a historically low-trade market with many generational owners.” Munson’s insight underscores the appeal of West Hollywood real estate, particularly properties with long-term rental income potential. The area’s desirability coupled with the tax advantages of a 1031 exchange make this type of investment particularly attractive.
## Archyde Exclusive Interview: Inside the $10.1 Million West Hollywood apartment Sale



**West Hollywood, CA** – A West Hollywood apartment building has just sold for a substantial $10.1 million, highlighting the enduring appeal of this coveted neighborhood.To get a better understanding of this lucrative sale and what it indicates about the local market, Archyde sat down with Anthony Muhlstein, Managing Director at Newmark, who played a key role in representing the seller.



**Archyde:** The $10.1 million sale price translates to $252,000 per unit. What factors contributed to this important price point?



**Muhlstein:** This sale truly reflects the strength of the multifamily market in Los Angeles, particularly in highly desirable areas like West Hollywood. The prime location, coupled with the building’s potential for renovation, drew considerable interest from buyers. Investors recognize the opportunity to capitalize on West Hollywood’s vibrant culture and create modern,luxurious residences in high demand.



**Archyde:** Despite some recent shifts in the broader real estate market, West Hollywood seems to remain a hot spot. Why is this area so resilient?



**Muhlstein:** West Hollywood’s appeal is multifaceted.it stands at the epicenter of Los Angeles’s entertainment, nightlife, and employment hubs. This blend of convenience, excitement, and cultural richness makes it a highly desirable place to live.



**Archyde:** What does this sale suggest about the current state of the multifamily market in West hollywood?



**Muhlstein:** The sale of 1260 hayworth demonstrates that well-located properties with renovation potential continue to command strong prices, even in the face of shifting market dynamics. Investors see long-term value in West Hollywood and are willing to invest in properties that can be transformed to meet the demands of today’s renters.





**Archyde:** What are some of the key considerations for potential buyers looking to invest in the West Hollywood market?





**Muhlstein:** Buyers should carefully assess the property’s location, potential for refurbishment, and the surrounding neighborhood amenities. West Hollywood offers a diverse range of properties, from classic apartment buildings to modern condominiums, so it’s critically important to identify properties that align with their investment strategy.



**Archyde:** Thank you for sharing your insights, Anthony.





This interview sheds light on the strong fundamentals driving the West Hollywood real estate market. With its prime location, vibrant culture, and enduring appeal, West Hollywood remains a compelling destination for both residents and investors.