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1140 Beachwood Drive
Los Angeles, CA 90038
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 INFORMATION
| MLS # | 24356367 | Lot Size | 6,754 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 2,049,000
Price Per SqFt: $ 383 |
DOM | 451 Days |
| Address | 1140 Beachwood Drive | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 5,343 Sq. Ft. |
| Postal Code | 90038 | Garage | N/A |
| County | Los Angeles | Year Built | 1956 |
| Bed / Bath | 2 / 0 | Parking | 6 |
| Built In | 1956 | Status | Active |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Individual Room |
| Has Appliances | Yes |
| Kitchen Appliances | Refrigerator |
| Has Heating | Yes |
| Heating Information | Wall Furnace |
| Has Cooling | Yes |
| Cooling Information | Wall/Window Unit(s) |
| SecuritySafety | Gated Community |
EXTERIOR FEATURES
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $2,186
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 02/08/2024 | Price Change (Relisted) | $2,095,000 (-1.41%) |
| 02/08/2024 | Listed | $2,299,000 |
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Listing provided courtesy of Dana Brody, Dana Brody. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
