A 12-unit apartment building at 1000 N. Curson Ave. has been sold for $3.5 million.
The sale, first reported by the Bisnow real estate website, was conducted by Marcus & Millichap’s Sam Liberow, who represented both the buyer and seller.
The building was built in 1954 and according to Loopnet.com, another real estate website, the average rents are $949 for a studio apartment, $1,169 for a one bedroom/one bath unit and and $1,685 for a two bedroom/two bath unit. It sits on the corner of Curson and Romaine.
Curson 1 LLC, a corporate entity whose owner has not been revealed, purchased the property from an unknown owner.
Considering rent control, the rents are surprisingly high for such a small bldg. Or am I behind the times? Seems about right.
Those are rents of long term residents. If they were forced out of the building, which is likely given the lack of concern by the City of WeHo on this issue, the rents would rise to $1550 for the Studio, $1950-$2250 for a One Bedroom and $2700-$2950 for a Two Bedroom. The rents are significantly below current market rate…
I agree. I think it is the average price per type of unit in the building. For example, if there are 3 studios and 2 are $750 and one is $1500 approximately, you would get a rough $1,000 average. The real interesting facts would be, how old are the tenants? Anyone sick? Who is subletting? Etc… I am sure the landlord will finagle getting people out. The building next door to me was purchased a 2yrs ago from longtime owners. A nightmare! Ugly renovation. They basically put lipstick on a pig and then charged for filet mignon. They pressured everyone… Read more »
As Donald Rumsfeld once said: “There are known knowns, these are things that we know that we know. There are also known unknowns, that is to say there are things we know we don’t know. But there are also unknown, unknowns…the things we don’t know we don’t know.” These are many properties being scooped up in the West Hollywood LLC Development Monopoly Game orchestrated by financial companies for sheer investment value. They care nothing about the destruction of neighborhoods, available housing or other consequences. Sooner or later they will show up at Design Review with lame projects. that have less… Read more »