1989 West Hollywood, AB 1482 Only, $445K/Door
1989. No RSO. $445,000 a door. 47 parking spaces.
At a glance
closed July 29, 2026
$100K bid-ask delta
2 × 1+1 · 19 × 2+2
per door
23,675 gross SF
at close, broker-sourced
3-story wood frame
0.41 acres · LCR4* zoning
above ULA threshold
seller: Equity Real Estate Group Inc
What matters
- $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.
- 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.
- 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!
- 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.
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 research these transactions to sharpen my own investment strategy and share what I find so Los Angeles owners, brokers and investors can debate the market with better information.
Know one other LA owner who'd want this deal? Forward this — reply with their email and I'll add them.
Property and transaction data: CoStar Research.
Write to David Safai at David@AtlasBrief.La
Appeared in the Sept. 6, 2026 edition of The Tape.