1140 N Beachwood DR Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90038
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,343 sqft
Price per Sqft $383
MLS Listing ID 24356367
Bedrooms 2
Year Built 1956
Lot Size 6,756 Sqft
Property Description
4 Units to Be Delivered Vacant! Excellent 10 Unit Multi-Family Income Property Offering Directly Across From and Next to New Luxury Construction! 5.9% IN-PLACE CAP in Prime Hollywood Location! 10 Units on Beachwood Drive for $2,049,000! We are pleased to exclusively offer for sale 1140-42 N. Beachwood Drive, a 10 unit apartment building located in the heart of Hollywood's bustling studio district. Offered well below replacement cost at $204,900 per unit, 1140-42 N. Beachwood Drive offers a new owner a going in 5.9% cap and a 11.1 GRM upon remodeling and re-leasing of 4 units that will be delivered vacant. Situated on a 6,752 SF lot zoned R3, the property features a detached parking structure that could potentially be converted to ADU units (Buyer to verify total number of ADUs possible). Some units have bee upgraded with new floors and appliances, 30% income upside potential still remains even after the 4 vacant units are remodeled and re-leased at market rent. Amazing opportunity to acquire 10 apartment units in the middle of the action! Don't miss this amazing opportunity to acquire 10 units in the heart of Hollywood's Studio District, surrounded by new jobs and high end for sale residential! Brand new construction townhouse units right across the street - 1153 Beachwood Drive - each unit renting for $6,750 each and for sale townhomes directly next door selling for $1.5 million per unit!
Location
State CA
County Los Angeles
Area C20 - Hollywood
Zoning LAR3
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Laundry Laundry Room
Exterior
Parking Features Carport,Detached Carport
Community Features Gated
View Y/N Yes
View City Lights,Hills
Building
Story 2
New Construction No
Others
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Standard