New Price! Amazing 10 Unit Income Property Opportunity! 5.7% In-Place Cap in Prime Hollywood Location! 10 Units for $2,095,000! 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 $209,500 per unit, 1140-42 N. Beachwood Drive offers a new owner a going in 5.7% cap and a 12.3 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! 7.9% 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!
Property Details
Price:
$2,095,000
MLS #:
24356367
Status:
Active
Baths:
0
Address:
1140 N Beachwood Drive
Type:
Residential Income
Neighborhood:
c20hollywood
City:
Los Angeles
Listed Date:
Feb 8, 2024
State:
CA
ZIP:
90038
Lot Size:
6,754 sqft / 0.16 acres (approx)
Year Built:
1956
See this Listing
Mortgage Calculator
Schools
Interior
Appliances
Refrigerator
Cooling
Wall/ Window Unit(s)
Heating
Wall Furnace
Exterior
Parking Features
Carport, Detached Carport
Parking Spots
6.00
Security Features
Gated Community
Stories Total
2
View
City Lights, Hills
Financial
Tenant Pays
Electricity, Gas
Map
Community
- Address1140 N Beachwood Drive Los Angeles CA
- AreaC20 – Hollywood
- CityLos Angeles
- CountyLos Angeles
- Zip Code90038
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Courtesy of Dana Brody. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
1140 N Beachwood Drive
Los Angeles, CA
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