1140 N Beachwood Drive Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90038
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,343 sqft
Price per Sqft $381
MLS Listing ID CL24356367
Year Built 1956
Lot Size 6,754 Sqft
Property Sub-Type Other
Property Description
4 UNITS TO BE DELIVERED VACANT! 6.6% CAP AND 10 GRM AT FULL OCCUPANCY! AMAZING VALUE ADD OPPORTUNITY IN THE HEART OF HOLLYWOOD'S STUDIO DISTRICT! 10 LEGAL UNITS WITH SIGNIFICANT INCOME UPSIDE POTENTIAL! 6.6% CAP AT FULL OCCUPANCY! 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 6.6% cap and a 10 GRM realized immediately upon remodeling and re-leasing of 4 units 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 4 New ADU units (Buyer to verify total number of ADUs possible). Some units have bee upgraded with new floors and appliances, 30% income upside potential still remains even after the 4 vacant units are remodeled and re-leased at market rent. Amazing opportunity to acquire 10 apartment units in the middle of the action! 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 right across the street - 11
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Laundry Laundry Room
Exterior
View Y/N true
View City Lights,Hills
Building
New Construction No