Homes for sale - 1140 N Beachwood DR, Los Angeles, CA 90038

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$2,049,000

Est. payment - /mo

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2 BD

10 BA

5,343 SqFt

Active

1140 N Beachwood DR Los Angeles, CA 90038

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Jeff Underdahl

jeff@jeffunderdahl.com +1(760) 271-8772

UPDATED:

12/05/2024 01:13 AM

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

HOA Y/N No

Year Built 1956

Lot Size 6,756 Sqft

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!

Location

State CA

County Los Angeles

Area C20 - Hollywood

Zoning LAR3

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplace No

Appliance Refrigerator

Laundry Laundry Room

Exterior

Parking Features Carport, Detached Carport

Community Features Gated

View Y/N Yes

View City Lights, Hills

Attached Garage No

Total Parking Spaces 6

Building

Faces West

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5534014019

Security Features Gated Community

Acceptable Financing Cash

Listing Terms Cash

Financing Cash

Special Listing Condition Standard

Listed by Dana Brody • Dana Brody

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Jeff Underdahl

CEO/Team Leader | License ID: 01077484

+1(760) 271-8772