2119 N Beachwood Drive

    Los Angeles (City), CA 90068
    • $5,950,000
    • STATUS: Active
    • ON SITE: 35 days
    • ID#: GD19237343
    UPDATED: 57 min ago
    $5,950,000
    • 0
      BEDS
    • 0.29
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 13,392
      SQFT
    • $444
      $/SQFT
    Type:
    Multi-Family
    Built:
    1956
    County:

    School Ratings & Info

    Description

    We are proud to offer for sale 2119 North Beachwood Drive, a rare opportunity to purchase a 17-unit multifamily investment located in the Hollywood Hills. Originally constructed in 1956, the property is a striking two-story structure over secured, subterranean parking. This offering presents a uniqueopportunity to acquire an asset that is in excellent condition and provides a huge amount of remaining upside potential in the rents. 2119 N. Beachwood Drive offers the perfect blend between a stabilized asset and a value-add opportunity. The property has been extensively renovated inside and out yet offers over 30% remaining upside potential in rents.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-11-12T14:33:33.45. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Beach City Brokers | BCB Premier Estates | The Miller Group. Licensed in the State of California, USA.
    www.tolivebythesea.com/homes/99673740

    2119 N Beachwood Drive Los Angeles (City), CA 90068

    • Price: $5,950,000
    • Status: Active
    • Updated: 57 min ago
    • ID#: GD19237343
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.29
    Acres
    13,392
    SQFT
    $444
    $/SQFT
    1956
    Built
    Neighborhood:
    C30 - Hollywood Hills East
    County:
    Los Angeles
    Area:
    C30 - Hollywood Hills East
    Property Description
    We are proud to offer for sale 2119 North Beachwood Drive, a rare opportunity to purchase a 17-unit multifamily investment located in the Hollywood Hills. Originally constructed in 1956, the property is a striking two-story structure over secured, subterranean parking. This offering presents a uniqueopportunity to acquire an asset that is in excellent condition and provides a huge amount of remaining upside potential in the rents. 2119 N. Beachwood Drive offers the perfect blend between a stabilized asset and a value-add opportunity. The property has been extensively renovated inside and out yet offers over 30% remaining upside potential in rents.
    Exterior Features

    Garage Spaces 18.00 Lot Features LandscapedLawnLevel With StreetLot 10000-19999 Sqft Lot Size Source Assessor Lot Size Units Square Feet Parking Total 18.00 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Laundry Features Common Area Levels Two

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 3.12 Community Features Urban Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 321924.00 Gross Multiplier 18.48 Gross Operating Income 312266.00 Gross Scheduled Income 321924.00 Insurance Expense 5759.00 Land Lease YN No Laundry YN Yes Net Operating Income 185707.00 New Construction YN No New Taxes Expense 69870.00 Number Of Separate Electric Meters 17 Number Of Separate Gas Meters 17 Number Of Separate Water Meters 1 Number Of Units Leased 17 Operating Expense 126559.00 Professional Management Expense 9658.00 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Actual Rent 321924.00 Total Expenses 126559.00 Trash Expense 4800.00 Vacancy Allowance Rate 3.00 Water Sewer Expense 11704.00 Water Source Public Year Built Source Assessor Zoning Lar3

    Listing provided courtesy of Krikor Garabedian of Keller Williams R. E. Services


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-11-12T14:33:33.45. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Beach City Brokers | BCB Premier Estates | The Miller Group. Licensed in the State of California, USA.
     
    Beach City Brokers | BCB Premier Estates | The Miller Group
    1716 South Catalina Avenue
    Redondo Beach CA, 90277