$2,095,000 Price Analysis   ♡   Los Angeles, CA 90038 2 bed 10 bath 5,343 SqFt ($392/SqFt) 6,754SqFt lot. Built 1956 Listed 2024-02-08, Taxes $8,750 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
Contemporary 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 astounding 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 Beachwod Drive - each unit renting for $6, 750 each!
Presented by Dana Brody at
Dana Brody.
Property MLS #24-356367 from TheMLSCLAW
Full Bathrooms: 10
Laundry Features: Room
Heating Features: Wall
Lot Size Dimensions: 50x135
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 6754
Parking Total: 6
Other Equipment: Range/Oven, Refrigerator
Security Features: Gated
Calculated Total Monthly Association Fees: 0
Number of Units: 10
Unit Features: 1 BathsTotal: 1, 1 SquareFeet: 1795, 2 BedsTotal: 1, 2 BathsTotal: 1, 2 SquareFeet: 2150, 3 BedsTotal: 2, 3 BathsTotal: 1, 3 SquareFeet: 2300
Tenant Pays: Electric, Gas
County: Los Angeles
Cross Street: Santa Monica Boulevard
Cap Rate: 5.7
Directions: Santa Monica Boulevard, left onto Beachwood Drive
Source Property Type: Residential Income
Area: Hollywood
Source Neighborhood: Hollywood
Owner Pays: Water, Gardener
Parcel Number: 5534-014-019
Postal Code Plus 4: 4600
Zoning: LAR3
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $408,412 + $245,039 $653,451 | $8,750 |
| 2021 | $400,404 + $240,235 $640,639 | $8,620 |
| 2020 | $396,299 + $237,772 $634,071 | $8,696 |
| 2019 | $388,529 + $233,110 $621,639 | $8,386 |
| 2018 | $380,911 + $228,540 $609,451 | $8,288 |
| 2017 | $373,443 + $224,059 $597,502 | $8,082 |
| 2016 | $366,121 + $219,666 $585,787 | $7,855 |
| 2015 | $360,622 + $216,367 $576,989 | $7,751 |
| 2014 | $353,558 + $212,129 $565,687 | $7,843 |
| 2013 | $351,961 + $211,171 $563,132 | $7,828 |
| 2012 | $345,060 + $207,031 $552,091 | $7,927 |
| 2010 | $338,295 + $202,972 $541,267 | $7,701 |
| 2009 | $336,565 + $201,935 $538,500 | $7,430 |
| 2009 | $335,767 + $201,456 $537,223 | $7,430 |
| 2008 | $329,966 + $197,976 $527,942 | $7,140 |
| 2007 | $323,497 + $194,095 $517,592 | $6,902 |
$2,095,000
TheMLSCLAW
Listing removed 2024-07-01
$0
TheMLSCLAW
Price Changed 2024-05-28
$2,125,000
TheMLSCLAW
Price Changed 2024-04-12
$2,175,000
TheMLSCLAW
Listed 2024-02-08
$2,299,000
TheMLSCLAW
Listing removed 2023-11-17
$0
TheMLSCLAW
Relisted 2023-11-15
$2,100,000
TheMLSCLAW
Listing removed 2023-11-07
$0
TheMLSCLAW
Price Changed 2023-10-06
$2,100,000
TheMLSCLAW
Price Changed 2023-08-22
$2,150,000
TheMLSCLAW
Price Changed 2023-08-01
$2,250,000
TheMLSCLAW
Price Changed 2023-06-23
$2,395,000
TheMLSCLAW
Listed 2023-04-27
$2,500,000
TheMLSCLAW
Sold 2022-05-19
$1,975,000
TheMLSCLAW
Year Built: 1956
Common Walls: Attached
Direction Faces: West
Levels: Two Level
Living Area Source: Vendor Enhanced
Property Age: 68
Levels or Stories: 2
Building Total Stories: 2
Year Built Source: Vendor Enhanced
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.