1140 Beachwood Drive, Los Angeles

$2,095,000

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3

Beds

3

Baths

5,343

Square feet

0.16

Acres

About 1140 Beachwood Drive

New Price! Amazing 10 Unit Income Property Opportunity! 5.7% In-Place Cap in Prime Hollywood Location! 10 Units for $2,095,000! 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 $209,500 per unit, 1140-42 N. Beachwood Drive offers a new owner a going in 5.7% cap and a 12.3 GRM upon remodeling and re-leasing of the 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! 7.9% 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!

Features of 1140 Beachwood Drive

MLS® # 24356367
Price $2,095,000
Bedrooms 3
Bathrooms 3.00
Square Footage 5,343
Acres 0.16
Year Built 1956
Type Residential Income
Status Active

Community Information

Address 1140 Beachwood Drive
Area C20 - Hollywood
City Los Angeles
County Los Angeles
Zip Code 90038

Amenities

Parking Spaces 6
Parking Carport, Detached Carport
Garages Carport, Detached Carport
View City Lights, Hills
Is Waterfront No
Has Pool No

Interior

Appliances Refrigerator
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Has Basement No
Fireplace No
# of Stories 2
Stories Two

Additional Information

Date Listed February 8th, 2024
Days on Market 157
Zoning LAR3
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

AgentDana Brody
OfficeDana Brody

Listing Map

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