Multifamily
1314 S Beverly Glen Blvd
1314 S Beverly Glen Blvd, Los Angeles, CA 90024
Listing Price: $3,500,000
Investment Overview
Marcus and Millichap is pleased to present 1314 S Beverly Glen Blvd, a 6-unit apartment building built in 1947 with a wood frame and stucco construction. The unit mix is six large two-bedroom one-bathroom units. One of the units is a two-story townhouse style unit. The property is 6,129sf on an oversized 8,090sf parcel zoned LAR3 (Tier 2 TOC). Located just south of Devon Ave on South Beverly Glen Boulevard, between Wilshire and Santa Monica Boulevards makes this apartment building an excellent location adjacent to Century City, Beverly Hills and Bel Air/Holmby Hills. This location will demand some of the highest rents in all of Los Angeles. Due to some tenants paying below market rents, there is an estimated 25% rental upside through renovating below market units upon turnover. Rents in this area for renovated 2+1 units can range from $3,500-4,000+/month.
1314 S Beverly Glen Blvd
Investment Highlights
- WESTWOOD LOCATION Demands Premium Rents w/ Local High Pay Jobs - Avg. Household Income $213,537 - Two Blocks South of Wilshire Blvd & Five Blocks North of Santa Monica Blvd
- COURTYARD STYLE Property on Large 8,090sf Lot Zoned LAR3 Consisting of SIX 2-Bedroom Units - One Unit Currently Vacant
- HIGH BARRIER TO ENTRY MARKET: First Time Available for Sale in 50 Years
- IN CLOSE PROXIMITY to UCLA, Century City, and Beverly Hills.
- HIGH INCOMES - Educational attainment translates into a median household income that is well above the national average; however, high home prices keep the homeownership level around 39%, providing a strong rental market.
- WELL-EDUCATED WORKFORCE - 36% of the area's residents had earned a graduate degree compared with the national average of only 12.3%. Major Employers nearby include: UCLA, UCLA Medical Center, Sony, Fox, & Live Nation Entertainment
Exclusively Listed By
Financing By
Listing Price: $3,500,000
Investment Highlights
- WESTWOOD LOCATION Demands Premium Rents w/ Local High Pay Jobs - Avg. Household Income $213,537 - Two Blocks South of Wilshire Blvd & Five Blocks North of Santa Monica Blvd
- COURTYARD STYLE Property on Large 8,090sf Lot Zoned LAR3 Consisting of SIX 2-Bedroom Units - One Unit Currently Vacant
- HIGH BARRIER TO ENTRY MARKET: First Time Available for Sale in 50 Years
- IN CLOSE PROXIMITY to UCLA, Century City, and Beverly Hills.
- HIGH INCOMES - Educational attainment translates into a median household income that is well above the national average; however, high home prices keep the homeownership level around 39%, providing a strong rental market.
- WELL-EDUCATED WORKFORCE - 36% of the area's residents had earned a graduate degree compared with the national average of only 12.3%. Major Employers nearby include: UCLA, UCLA Medical Center, Sony, Fox, & Live Nation Entertainment
Investment Overview
Marcus and Millichap is pleased to present 1314 S Beverly Glen Blvd, a 6-unit apartment building built in 1947 with a wood frame and stucco construction. The unit mix is six large two-bedroom one-bathroom units. One of the units is a two-story townhouse style unit. The property is 6,129sf on an oversized 8,090sf parcel zoned LAR3 (Tier 2 TOC). Located just south of Devon Ave on South Beverly Glen Boulevard, between Wilshire and Santa Monica Boulevards makes this apartment building an excellent location adjacent to Century City, Beverly Hills and Bel Air/Holmby Hills. This location will demand some of the highest rents in all of Los Angeles. Due to some tenants paying below market rents, there is an estimated 25% rental upside through renovating below market units upon turnover. Rents in this area for renovated 2+1 units can range from $3,500-4,000+/month.
Exclusively Listed By
Financing By
