The Tape
1152 N Poinsettia PlSold

West Hollywood 20-Unit Trades at Just $211K Per Door

Dominick Faraone Confirms 9.57 GRM on Current Rents

By David SafaiFollow

At a glance

Sale Price
$4.225M

closed June 17, 2026

Original Ask
$5.0M

$775K bid-ask delta

Units
20

12 × 1BD · 8 × 2BD

Price / Unit
$211,250

per door

Price / SF
$315/SF

13,404 gross SF

CAP (Current)
6% Cap

at close, confirmed with Broker

GRM (Current)
9.57 GRM

at close, confirmed

Year Built
1960

LARSO applies

Vacancy (Subject)
5%

One unit delivered Vacant, rent factored in GRM

Hold Period
127 months

~10.6 years, seller: David Nagel

What matters

  1. The Trade.  20 RSO units in West Hollywood closed at $4.225M ($211K/door, $315/SF) on June 17, 2026, against a $5.0M ask. 
  2. The Math.  Current average rent is approximately $1,841/month. Renovated one-bedrooms are leasing around $2,200–$2,500, and two-bedrooms are closer to $2,700–$3,000. That suggests about $200K–$250k of rent upside if Ilan can get the units back.
  3. The Buyer  The buyer appears to be Ilan Gorodezki, acquiring the property through 1152 Poinsettia Place LLC.
  4. Unit mix  12 one-bedrooms and 8 two-bedrooms.
1152 N Poinsettia Pl photo
FIG. 00, 1152 N Poinsettia Pl, West Hollywood, CA 90046. Image via Google Street View.

Broker's Feedback


After publication, the listing broker, Dominick shared additional details about the transaction:

  • Closed at approximately a 9.57 GRM and 6% cap rate based on in-place rents.
  • Delivered with one vacant unit, not three.
  • Long-term ownership by a family that inherited the property from the original developers.
  • Buyer saw a clear value-add opportunity.
  • Broker believes the sale represented an excellent price per unit and price per square foot for a prime West Hollywood location.
  • The transaction was reported to have been smooth with a quick closing.
Send Oms to David@AtlasBrief.La

Write to David Safai at David@AtlasBrief.La

Appeared in the July 18, 2026 edition of The Tape.