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$ 2,400,000
Est. payment | /mo
5,343 SqFt
$ 2,400,000
Est. payment | /mo
5,343 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,343 sqft
Price per Sqft $449
MLS Listing ID CL25597357
HOA Y/N No
Year Built 1956
Lot Size 6,754 Sqft
Acres 0.16
Property Sub-Type Other
Property Description
10 Units in Prime Hollywood Studio District - 6 Units Delivered Vacant! Amazing 10 unit on Beachwood Drive for $2,400,000! 5.9% cap and 11 GRM upon renovation and lease up of the 6 vacant units! We are very pleased to exclusively offer for sale 1140 North Beachwood Drive, a 10 unit apartment building situated in the Heart of Hollywood's Studio District. Priced well below replacement cost at $240,000 per unit, 1140 N. Beachwood is an excellent income producing value-add opportunity for a new or experienced multi-family investor looking to pick up ten apartment units in an established and high demand rental pocket. Located between Santa Monica and Sunset Boulevard, the property features 6 parking spaces at the rear, is separately metered for gas and electric, and does not require seismic retrofitting. Boasting a 90 Walk Score, 1140 N. Beachwood is walking distance to many shops and restaurants, including the new Tesla diner and drive-in theatre, as well as a great deal of new development happening all around the property. Directly next door, high end new construction townhomes that sell for nearly $1.5 million each, plus new mixed use and office construction going up on Santa Monica Boulevard. Echelon Studios, going in at 5601 Santa Monica Boulevard just a half a mile away from the
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Forced Air
Fireplace No
Exterior
View Y/N true
View City Lights
Building
New Construction No
Others
Tax ID 5534014019
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Listed by Dana Brody • Dana Brody
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Debbi DiMaggio Betta
REALTOR | Partner | Lic# 01047447