1140 Beachwood DrLos Angeles, CA 90038

This exceptional 10-unit apartment building presents a compelling value-add investment opportunity in the heart of Hollywood's Studio District. Located at 1140 Beachwood Drive, Los Angeles, CA 90038, this two-story, 5,343 square foot building sits on a 6,752 square foot lot and boasts a current 5.8% cap rate with a pro-forma cap rate of 8.2%. The property, built in 1956, features a mix of studio, one-bedroom, and two-bedroom units, currently operating at 90% occupancy, generating a net operating income (NOI) of $118,571. With a pro-forma NOI of $167,916, significant upside potential exists. The asking price is $2,049,000, or $204,900 per unit, well below replacement cost. The property benefits from a 90 Walk Score, placing it within easy walking distance of numerous shops, restaurants, and entertainment venues, including Tesla's new diner and drive-in. Its proximity to major studios like Sunset Gower Studios, Netflix, and Sunset Bronson Studios, along with the upcoming Echelon Studios development, further enhances its investment appeal. Six parking spaces are available on the property. Utilities are separately metered. The property is zoned R3 and does not require seismic retrofitting. One unit is currently vacant, providing an immediate opportunity to increase rental income. New construction townhomes across the street are renting for $6,750 per unit, indicating strong market demand. This property offers a rare chance to acquire a well-positioned multifamily asset with substantial growth potential in a thriving Hollywood location.