4 UNITS TO BE DELIVERED VACANT! 6.6% CAP AND 10 GRM AT FULL OCCUPANCY! AMAZING VALUE ADD OPPORTUNITY IN THE HEART OF HOLLYWOOD'S STUDIO DISTRICT! 10 LEGAL UNITS WITH SIGNIFICANT INCOME UPSIDE POTENTIAL! 6.6% CAP AT FULL OCCUPANCY! 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 6.6% cap and a 10 GRM realized immediately upon remodeling and re-leasing of 4 units 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 4 New ADU units (Buyer to verify total number of ADUs possible). Some units have bee upgraded with new floors and appliances, 30% income upside potential still remains even after the 4 vacant units are remodeled and re-leased at market rent. Amazing opportunity to acquire 10 apartment units in the middle of the action! 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 right across the street - 1153 Beachwood Drive - each unit renting for $6,750 per unit and for sale townhomes directly next door selling for $1.5 million per unit! 1140 N. Beachwood Drive'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. One block south of 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 500,000 square 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.
|
DAYS ON MARKET
|
486
|
LAST UPDATED
|
4/23/2025
|
|
YEAR BUILT
|
1956
|
COMMUNITY
|
C20 - Hollywood
|
|
COUNTY
|
Los Angeles
|
STATUS
|
Active
|
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
|
Prior to Sep 30, '24
|
$2,095,000
|
|
Sep 30, '24 - Apr 23, '25 |
$2,049,000
|
| Apr 23, '25 - Today |
$2,039,000 |
| AIR |
Wall/Window Unit(s) |
| AIR CONDITIONING |
Yes |
| APPLIANCES |
Refrigerator |
| AREA |
C20 - Hollywood |
| HEAT |
Wall Furnace |
| LOT |
6756 sq ft |
| LOT DIMENSIONS |
50x135 |
| PARKING |
Carport, Detached Carport |
| STORIES |
2 |
| VIEW |
Yes |
| VIEW DESCRIPTION |
City Lights, Hills |
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Listed with Dana Brody
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 6/7/25 4:04 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2025.
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