Iconic Investments is pleased to announce the sale of The Poinsettia Apartments located in the Hollywood/West Hollywood submarket. Iconic conducted 7 property tours which generated 7 competitive offers. After issuing a "Best & Final" to all Buyers, competition pushed one Buyer to come in non-contingent with a quick close of escrow.
SALE HIGHLIGHTS:
Sold for $6,000,00!
100% Non-Contingent Day-1
All Cash With 14-Day COE
$250,000 Per Unit & 13.48 GRM
4.4% Cap Rate on Actual
Many Long-Term Legacy Tenants
Sold By Original Developer
Electrical System Requires Updating
Listed & Sold by Iconic
Unit mix of thirteen one-bedroom and one-bathroom and eleven two-bedroom and two-bathroom units. Despite the long-term tenants and low rents the building was well maintained.
