1140 N Beachwood Drive

Los Angeles, CA 90038

PRICE REDUCED

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-$250,000 (-10.87%)

$2,049,000

List Price

2

bed Beds

10

shower Baths

5,343 sqft

straighten / sqft

1956

calendar_month Built

Property Description

Amazing New Price! Excellent 10 Unit Income Property Opportunity Across and Next to New Luxury Construction! 5.8% 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 5.8% cap and a 12.1 GRM upon remodeling and re-leasing of a 1 bedroom unit 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 number of ADUs possible). Some units have bee upgraded with new floors and appliances, 30% income upside potential still remains even after the vacant unit is remodeled and re-leased at market rent. Amazing opportunity to acquire 10 apartment units in the middle of the action! 8.2% Proforma Cap! 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 across the street - 1153 Beachwood Drive - each unit renting for $6,750 each!

Listing Information

List Price $2,049,000
Status Active
MLS 24356367
Type Residential Income
Year Built 1956
Lot Size 6,754
Structure Size 5,343
DOM 226
Courtesy Of Dana Brody
Listing Agent Dana Brody DRE#01429001

Interior Features

Laundry Information
Location(s) Laundry Room
Total Bedroom
Bedrooms 2
Total Bathroom
Bathrooms 10
Cooling Type
Cooling Type Wall/Window Unit(s)

Exterior Information

Maps

Listing information courtesy of: Dana Brody, Dana Brody . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 30th, 2024 at 6:29 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.