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$ 2,400,000
Est. payment | /mo
2 Beds
10 Baths
5,343 SqFt
$ 2,400,000
Est. payment | /mo
2 Beds
10 Baths
5,343 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 5,343 sqft
Price per Sqft $449
MLS Listing ID 25597357
Bedrooms 2
HOA Y/N No
Year Built 1956
Lot Size 6,756 Sqft
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 property will bring hundreds of jobs and 610,000 square feet of creative office and production studios to the area. Netflix, Sunset Gower Studios and Sunset Bronson Studios are also just walking distance from the property just to the North on Sunset. With more than 30% income upside potential and excellent fundamentals, 1140 N. Bronson is an excellent multi-family property with a great price and huge appreciation potential. Six units to be delivered vacant, ready to be remodeled and re-leased at top market rent! New Construction Townhomes just completed across the street being rented for $6,750 per unit!1140 N. Beachwood's prime location puts residents in close proximity to popular dining destinations like La Fonda Antioquena, Dave's Hot Chicken, Jitlada Restaurant, and Canter's Deli. Entertainment and cultural attractions abound, including The Hollywood Museum, Paramount Theatre, Barnsdall Art Park, and the American Cinematheque. Shopping and entertainment options are readily available at Ovation Hollywood, West Hollywood Gateway, Catalina's Supermarket, and Pavilions. The property is also conveniently located near major employers like Paramount Pictures Studio Tour and esteemed educational institutions such as Joseph Le Conte Middle School, STEM Academy Of Hollywood, Bernstein High School, and Hollywood Elementary School. This is a rare chance to own a piece of Hollywood with exceptional potential for growth. Just one block from the subject property, the transformative Echelon Studios development is taking shape, a $450-million project by Bardas Investment Group and Bain Capital Real Estate. Spanning a full city block at 5601 Santa Monica Blvd, this state-of-the-art studio complex will feature nearly 500,000square feet of production studios and support space, alongside creative offices and retail, with completion slated for 2026. This cutting-edge campus, replacing a former Sears site, is poised to elevate the area's profile as a hub for entertainment and innovation, enhancing the value and appeal of nearby properties.
Location
State CA
County Los Angeles
Area C20 - Hollywood
Zoning LAR3
Interior
Interior Features Ceiling Fan(s)
Heating Forced Air
Fireplace No
Appliance Dishwasher
Exterior
Parking Features Carport, Detached Carport
Community Features Gated
View Y/N Yes
View City Lights
Total Parking Spaces 6
Building
Faces West
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5534014019
Security Features Gated Community
Acceptable Financing Cash
Listing Terms Cash
Financing Cash
Special Listing Condition Standard
Listed by Dana Brody Dana Brody
“My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! ”