Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

Enter the "Deal room" for exclusive documents related to this property.

The Deal Room features confidential documents related to this property. To access the Deal Room, you will need to be logged in. If you don't have an account, please create one. More questions? Visit our FAQ.
I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key Facts

Year Built 1929
Building Area
Number of units 52

Property Description

JLL, as exclusive advisor, is pleased to present for sale Nob Hill Towers (the "Property" or "NHT"), a 52-unit apartment community situated in the Westlake neighborhood of the City of Los Angeles. Built in 1929, the seven-story art deco style apartment community features a hotel style lobby and boasts eight (8) unique spacious floor plans with a variety of features, including penthouse units, private balconies, fire places, dens, walk-in closets, and ample natural lighting. The Property also includes on-site parking, storage rooms, and two (2) expansive rooftop decks with panoramic views of Los Angeles.

Investment Highlights

  • Proven Renovation Premiums with Additional Value Add Potential: Attractive opportunity to capitalize on the projected ±37% growth in rents through the continuation and expansion of current Ownership’s successful renovation strategy.
  • Workforce Housing Solution: With average achieved rents of $1,689, Nob Hill Towers offers relatively affordable housing to the main portion of the renter demand curve.
  • Significant Discount to Homeownership: Homeownership in the neighborhood represents a ±70% premium to renting at Nob Hill Towers.
  • Attractive Basis Below Reproduction Cost: Rare opportunity to acquire a value-add property in a high barrier to entry market at a significant basis below reproduction cost.
  • The Renaissance of Westlake: The rapidly appreciating location is in the early stages of significant investment in the community that is welcomed by the growing presence of young, well educated professionals.
  • Centrally Positioned Along LA Content-Media “S-Curve” Ecosystem: Residents enjoy swift access to the most prominent technology and entertainment companies located within Downtown LA, Hollywood, Culver City, Santa Monica, Burbank and Glendale.


Last Updated Date: 24 Mar 2021
Peter Yorck
Peter Yorck
Managing Director
License details
01999279
Nick Lavin
Nick Lavin
Director, Investment Sales Advisory
License details
CA-2081747

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

+13129406848
Last Updated Date: 24 Mar 2021

Do you have any questions?  Visit our FAQ page

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.