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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!
Property Type(s):
Residential Income
| Last Updated | 9/30/2024 | Year Built | 1956 |
|---|---|---|---|
| Community | Hollywood | County | Los Angeles |
Price History
| Prior to Sep 30, '24 | $2,095,000 |
|---|---|
| Sep 30, '24 - Today | $2,049,000 |
Additional Details
| AIR | Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Refrigerator |
| AREA | Hollywood |
| GARAGE | Carport, Detached Carport |
| HEAT | Wall Furnace |
| LOT | 6754 sq ft |
| LOT DIMENSIONS | 50x135 |
| PARKING | Carport,Detached Carport |
| STORIES | 2 |
| VIEW | Yes |
| VIEW DESCRIPTION | City Lights,Hills |
| ZONING | LAR3 |
Location
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Listed with Dana Brody
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