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1140 N Beachwood Drive

Los Angeles (City), CA 90038
  • $2,299,000
  • STATUS: Active
  • ON SITE: 15 Days
  • ID#: 24356367
UPDATED: 24 min ago
$2,299,000
  • 2
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 5,343
    SQFT
  • $430
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1956
County:

School Ratings & Info

Listing Agent(s): Dana Brody of Dana Brody (818-212-2757)


Description

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 at $230,000 per unit, 1140-42 N. Beachwood Drive offers a 5.04% cap and a 13 GRM upon remodeling and re-leasing of the 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!

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-24T14:30:23.8. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or COMPASS. Licensed in the State of California, USA.
www.reiferhomes.com/homes/147395424
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1140 N Beachwood Drive Los Angeles (City), CA 90038

  • Price: $2,299,000
  • Status: Active
  • On Site: 15 Days
  • Updated: 24 min ago
  • ID#: 24356367
2
Beds
0
Baths
0
½ Baths
0.16
Acres
5,343
SQFT
$430
$/SQFT
1956
Built
Neighborhood:
C20 - Hollywood
County:
Los Angeles
Area:
C20 - Hollywood
Property Description
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 at $230,000 per unit, 1140-42 N. Beachwood Drive offers a 5.04% cap and a 13 GRM upon remodeling and re-leasing of the 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!
Exterior Features

Attached Garage YN No Carport YN Yes Direction Faces West Parking Features CarportDetached Carport Parking Total 6 View City LightsHills View YN Yes

Interior Features

Appliances Refrigerator Cooling Wall/Window Unit(s) Cooling YN Yes Heating Wall Furnace Heating YN Yes

Property Features

Association YN No Buyer Financing Cash Cap Rate 5.04 Community Features Gated Gross Income 168564 Laundry Features Laundry Room Levels Two Listing Agreement Seller Reserved Listing Service Full Service Listing Terms Cash Net Operating Income 115813 New Construction YN No Possession Close Of Escrow Security Features Gated Community Senior Community YN No Special Listing Conditions Standard Tenant Pays ElectricityGas Zoning LAR3



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-24T14:30:23.8. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or COMPASS. Licensed in the State of California, USA.
 
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COMPASS
6930 Indiana Ave, Suite 1
Riverside CA, 92506
Listing Agent(s): Dana Brody of Dana Brody (818-212-2757)