The Winfield | 701 S Hill St
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The Winfield 701 S Hill St
124 Room Serviced Apartment Los Angeles, CA 90014 £50,859,251 (£410,155/Room) 8.42% Net Initial Yield
Investment Highlights
- Strong tenant with guarantees, no leaseup risk, 125 Residential Units 100% leased.
- Gorgeous historic building with an excellent mix of one-, two-, and three-bedroom units.
- Gorgeous historic building that was fully renovated in 2022 with brand new structural, roof, HVAC, units, lobbies, etc.
Executive Summary
New fully renovated Adaptive Reuse - Project completed in September 2023. Residential apartment units fully leased to hospitality tenant for ten years triple-net. Significant net operating income in place with annual escalations in the rent.
Property Facts
| Price | £50,859,251 | Lot Size | 0.29 AC |
| Price Per Room | £410,155 | Building Size | 142,675 SF |
| Sale Type | Investment | No. Rooms | 124 |
| Net Initial Yield | 8.42% | Number of Floors | 13 |
| Property Type | Hospitality | Year Built/Renovated | 1929/2023 |
| Property Subtype | Serviced Apartment | Corridor | Interior |
| Building Class | B |
| Price | £50,859,251 |
| Price Per Room | £410,155 |
| Sale Type | Investment |
| Net Initial Yield | 8.42% |
| Property Type | Hospitality |
| Property Subtype | Serviced Apartment |
| Building Class | B |
| Lot Size | 0.29 AC |
| Building Size | 142,675 SF |
| No. Rooms | 124 |
| Number of Floors | 13 |
| Year Built/Renovated | 1929/2023 |
| Corridor | Interior |
Amenities
- Fitness Centre
- High Speed Internet Access
- Public Access Wi-Fi
- Smoke-Free
- Fully-Equipped Kitchen
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Walk Score ®
Walker's Paradise (98)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Very Bikeable (86)
PROPERTY TAXES
| Parcel Number | 5144-013-020 | Improvements Assessment | £27,097,908 |
| Land Assessment | £11,745,222 | Total Assessment | £38,843,130 |
PROPERTY TAXES
Parcel Number
5144-013-020
Land Assessment
£11,745,222
Improvements Assessment
£27,097,908
Total Assessment
£38,843,130
zoning
| Zoning Code | C5-4D (Commercial) |
| C5-4D (Commercial) |
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Michael Shustak -
Phillip Sample -
Chris Caras -
CBRE
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The Winfield | 701 S Hill St
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