1140 N Beachwood Dr Los Angeles, CA 90038
Hollywood NeighborhoodEstimated payment $13,063/month
Total Views
12,089
2
Beds
10
Baths
5,343
Sq Ft
$382
Price per Sq Ft
Highlights
- City Lights View
- Detached Carport Space
- West Facing Home
- Laundry Room
- Gated Home
About This Home
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.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1956
Lot Details
- 6,754 Sq Ft Lot
- Lot Dimensions are 50x135
- West Facing Home
- Gated Home
Property Views
- City Lights
- Hills
Interior Spaces
- 5,343 Sq Ft Home
- 2-Story Property
- Oven or Range
Bedrooms and Bathrooms
- 2 Bedrooms
- 10 Bathrooms
Laundry
- Laundry Room
- Leased Washer and Dryer
Parking
- 6 Parking Spaces
- Detached Carport Space
Utilities
- Cooling System Mounted To A Wall/Window
- Heating System Mounted To A Wall or Window
Community Details
- 10 Units
Listing and Financial Details
- The owner pays for water, gardener
- Assessor Parcel Number 5534-014-019
Map
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/01/2025 06/01/25 | For Sale | $2,039,000 | 0.0% | $382 / Sq Ft |
| 05/31/2025 05/31/25 | Off Market | $2,039,000 | -- | -- |
| 04/23/2025 04/23/25 | Price Changed | $2,039,000 | -0.5% | $382 / Sq Ft |
| 09/30/2024 09/30/24 | Price Changed | $2,049,000 | -2.2% | $383 / Sq Ft |
| 07/09/2024 07/09/24 | Price Changed | $2,095,000 | 0.0% | $392 / Sq Ft |
| 07/09/2024 07/09/24 | For Sale | $2,095,000 | -1.4% | $392 / Sq Ft |
| 06/30/2024 06/30/24 | Off Market | $2,125,000 | -- | -- |
| 05/28/2024 05/28/24 | Price Changed | $2,125,000 | -2.3% | $398 / Sq Ft |
| 05/01/2024 05/01/24 | For Sale | $2,175,000 | 0.0% | $407 / Sq Ft |
| 05/01/2024 05/01/24 | Off Market | $2,175,000 | -- | -- |
| 04/12/2024 04/12/24 | Price Changed | $2,175,000 | -5.4% | $407 / Sq Ft |
| 02/08/2024 02/08/24 | For Sale | $2,299,000 | +16.4% | $430 / Sq Ft |
| 05/19/2022 05/19/22 | Sold | $1,975,000 | -1.3% | $370 / Sq Ft |
| 05/05/2022 05/05/22 | Pending | -- | -- | -- |
| 02/03/2022 02/03/22 | For Sale | $2,000,000 | -- | $374 / Sq Ft |
Source: The MLS
Similar Homes in Los Angeles, CA
Source: The MLS
MLS Number: 24-356367
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