1140 North Beachwood Drive

Los Angeles, CA 90038

$2,049,000
Price
2
Beds
10
Baths
5,343 Sq. Ft.
$383 / Sq. Ft.
5,343
Sq. Ft.
$383
per Sq. Ft.

Description

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...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!
  1. Listed by Dana Brody • DRE #01429001 • Brokerage DRE #01429001 • Dana Brody

Property Details for 1140 North Beachwood Drive

Zoning
LAR3
Cross Streets
Santa Monica Boulevard
Parcel Number
5534014019
Total Units
10.0
Living Area
5343
Source Living Area
Vendor Enhanced
Area
Hollywood (C20)
Vacancy Rate
yes
LISTING UPDATED: 09/30/2024 10:13 AM

Property Details for 1140 North Beachwood Drive

StatusActive
MLS #24-356367
Days on Market291
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1956
Lot Size0.16 AC / 6,754 SF
CountyLos Angeles County

Building Information for 1140 North Beachwood Drive

Stories2Residences-Year Built1956Building Size-Lot Size0.16 AC / 6,754 SF

Property Information for 1140 North Beachwood Drive

Community / Development
Community / Development
  • Number Of Units: 10
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Multi-Family
  • View: Yes
  • View Description: City Lights, City, Hills
  • View: City Lights, Hills
  • Security Features: Gated
  • Direction Faces: West
  • Water Heaters: Yes
Contract Info
Contract Info
  • Probate: No
  • Financing: Cash To New Loan, Cash
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $163,961
  • Net Operating Income: $118,571.00
  • Gross Income: $169,032
  • Cap Rate: 5.80%
  • Gross Rent Multiplier: $12.10
  • Actual Annual Gross Rent: $169,032.00
  • Actual Gross Annual Income: $169,032
  • Actual Rent Total: $169,032.00
  • Vacancy Allow Percent: 3.00%
  • Owner Pays: Water, Gardener
  • Total Annual Expense: 45390
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1551
  • Lot Size Square Feet: 6754
  • Lot Size Dimensions: 50x135
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Carport, Carport Detached
  • Total Parking: 6
  • Parking Features: Carport, Detached Carport
  • Attached Garage: No
Interior Features
Interior Features
  • Levels: Two
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Range/Oven, Refrigerator
  • Common Walls: Attached
  • Laundry: Room
  • Laundry Equipment: Lease
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 02-08-2024
  • Listing Terms: Cash, Cash To New Loan
  • Tenant Pays: Electricity, Gas
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,310.00
  • Unit Actual Rent: $6,551.00
  • Unit Projected Rent: $1,795.00
  • Like Units: 5
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,556.00
  • Unit Actual Rent: $6,224.00
  • Unit Projected Rent: $2,150.00
  • Like Units: 4
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,273.00
  • Unit Actual Rent: $1,273.00
  • Unit Projected Rent: $2,300.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $810,900.00
  • Assessed Improvement Percent: 40.25
  • Assessed Land Value: $1,203,600.00
  • Assessed Land Percent: 59.75
  • Assessed Total Value: $2,014,500.00

Property History for 1140 North Beachwood Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1140 North Beachwood Drive

Taxable ValueLand$1,227,672Additions$828,918Total$2,056,590
Tax Record2024$25,788 ($2,149 / month)
Home Facts
Total Finished SqFt5,343 SqFtAbove Grade Finished SqFt5,343 SqFtLot Size6,752 SqFtStyleMulti-Family Res (5+ Units)Year Built1956ZoningLAR3CountyLOS ANGELESAPN5534-014-019

Schools near 1140 North Beachwood Drive

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - K to 6
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
Hollywood Elementary
PublicK to 5

Vine Street Elementary School
PublicK to 6

Joseph Le Conte Middle School
Public6 to 8

Hollywood Senior High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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1140 North Beachwood Drive is a multi-family home for sale in Los Angeles, CA 90038. This property was listed for sale on February 8, 2024 by Dana Brody, it's currently listed at $2,049,000. It has been on the market for a total of 291 days and was last sold on May 19, 2022. This listing's school district is Los Angeles Unified School District. Nearby schools include Hollywood Elementary, Vine Street Elementary School and Joseph Le Conte Middle School. 1140 North Beachwood Drive is a 2-bed, 10-bath, 5,343 sqft multi-family home built in 1956.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Dana Brody, Dana Brody, DRE #01429001

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.