SoldBroker Activity · Entry № 108

1989 West Hollywood, AB 1482 Only, $445K/Door

1989. No RSO. $445,000 a door. 47 parking spaces.

PublishedAugust 25, 2026
StatusSold · July 29, 2026
DatelineThe Tape · West Hollywood, Los Angeles
8815 Cynthia St hero photo
LISTING PHOTO VIA COSTAR.
Four takeawaysFour things to know about 8815 Cynthia St
  1. $9.35 million on July 29.The ask was $9.45 million. They came off $100,000, about 1%. It sat 190 days. Six months.
  2. 21 units. Two one-beds at 750 SF.Nineteen two-beds at 1,150 SF. Average unit is 1,112 SF. $445,238 a door. $395 a foot. 23,675 SF. Three stories. One elevator. Built 1989. Cynthia Gardens. West Hollywood.
  3. 1989. That is not RSO. AB 1482 still applies.Four of the 21 units are rent-restricted. 47 covered parking stalls for 21 units. That parking is a real advantage!  
  4. CoStar shows a 12.51 GRM. No cap on the file.That GRM implies about $2,970 a unit if the number is right. I do not have a rent roll. The seller is Equity Real Estate Group, Jeffrey Nemoy.  They held it 99 months, a little over eight years.   Jonathan Taksa at RE/MAX was on both sides.
Deal Stats · 8815 Cynthia St
Sale Price
$9,350,000
closed July 29, 2026
List Price
$9,450,000
$100K bid-ask delta
Units
21
2 × 1+1 · 19 × 2+2
Price / Unit
$445,238
per door
Price / SF
$394.93
23,675 gross SF
GRM (Current)
12.51
at close, broker-sourced
Year Built
1989
3-story wood frame
Lot SF
17,860
0.41 acres · LCR4* zoning
ULA Tax Est.
~$374,000
above ULA threshold
Hold Period
~99 months
seller: Equity Real Estate Group Inc

The Location

8815 Cynthia St sits in the residential core of West Hollywood, roughly two blocks south of Santa Monica Blvd and within walking distance of the Melrose corridor. A median household income of $112,921, and 54,689 daytime workers. Submarket vacancy sits at 5.5% .

The Setup

The building is a 3-story with one elevator, covered parking for 47 stalls for 21 unit.  Laundry on site, and individually metered utilities. The unit mix skews toward 2-bedrooms: 19 units averaging 1,150 SF and 2 one-bedrooms at 750 SF each, for a blended average of 1,066 SF. 

What an Operator Sees

I like the year on this one.

1989.

No RSO.

47 parking spaces for 21 units is going to attract those tenants that have to have 2 spots.  I get those calls all the time.  The renter exists that need the spaces and will pay extra for it.

Four units are rent-restricted. I am not ignoring that.  That causes some upside and paperwork.  

$445,000 a door is not a cheap door. 

The year and the parking are why I am keeping it.

I don't have the buyer.

I don't have a rent roll.

I'm keeping 1989 and the 47 stalls.

I'm researching the market to make better investment strategies. I'm sharing what I find along the way with other investors to have discussions, debates and help make better decisions.

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Property and transaction data: CoStar Research.

Brokers
Buyer & Listing Broker
Jonathan Taksa
Senior Vice-President
RE/MAX Commercial & Investment Realty / Taksa Investment Group
Written from the field

David Safai, operator, developer, GC.

Atlas Home Builders, Inc. is a Los Angeles owner-operator and general contractor. If you are a broker with a listing you want an honest read on, send the OM and the T-12 to David@AtlasBrief.La.

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