1140 Beachwood DrLos Angeles, CA 90038

Property Details for 1140 Beachwood Dr

Year built

1956

Construction

WOOD

Lot size

0.16 AC

Property size (Sq ft)

5,343 SF

Zone code

LAR3

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

5534-014-019

APU

5534014019

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,954,186

  6.5%

  $1,803,864

  7%

  $1,675,016

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,574,839

  Geo Method

  $1,574,839

• Alternative Use

  Use

  Valuation

  Residential

  $1,803,864

  Hospitality

  $1,652,330

  Educational

  $1,374,719

  Medical

  $1,421,998

  Retail

  $2,138,452

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.092

Longitude

-118.321

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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