$2,095,000
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1140 Beachwood Drive Los Angeles, CA 90038
Cluster
Residence
2
Beds
10
Baths
...
Bed/Bath
5,343
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
Saves
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!
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MLS#
24356367
Property Type
Cluster
Bedrooms
2
Bathrooms
Year Built
1956
Square Feet
5,343
sq. ft
Lot Size
0.16
Stories
2.0
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