30
See all 30 photos
$2,049,000
Est. payment /mo
2 Beds
10 Baths
5,343 SqFt
Active
1140 N Beachwood DR Los Angeles, CA 90038
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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
4 Units to Be Delivered Vacant! Excellent 10 Unit Multi-Family Income Property Offering Directly Across From and Next to New Luxury Construction! 5.9% 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 5.9% cap and a 11.1 GRM 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 - 1153 Beachwood Drive - each unit renting for $6,750 each and for sale townhomes directly next door selling for $1.5 million per unit! 1140 N. Beachwood Drive's prime location puts residents in close proximity to popular dining destinations like La Fonda Antioquena, Dave's Hot Chicken, Jitlada Restaurant, and Canter's Deli. Entertainment and cultural attractions abound, including The Hollywood Museum, Paramount Theatre, Barnsdall Art Park, and the American Cinematheque. Shopping and entertainment options are readily available at Ovation Hollywood, West Hollywood Gateway, Catalina's Supermarket, and Pavilions. The property is also conveniently located near major employers like Paramount Pictures Studio Tour and esteemed educational institutions such as Joseph Le Conte Middle School, STEM Academy Of Hollywood, Bernstein High School, and Hollywood Elementary School. One block south of the subject property, the transformative Echelon Studios development is taking shape, a $450-million project by Bardas Investment Group and Bain Capital Real Estate. Spanning a full city block at 5601 Santa Monica Blvd, this state-of-the-art studio complex will feature nearly 500,000 square feet of production studios and support space, alongside creative offices and retail, with completion slated for 2026. This cutting-edge campus, replacing a former Sears site, is poised to elevate the area's profile as a hub for entertainment and innovation, enhancing the value and appeal of nearby properties.
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