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Multifamily

1249 N Beachwood Dr

1249 N Beachwood Dr, Los Angeles, CA 90038

Listing Price: $1,795,000

Cap Rate
4.37%
Number of Units
5
Price/Unit
$359,000
Price/Gross SF
$464.79
Gross SF
3,862

Investment Overview

Marcus & Millichap is pleased to announce the opportunity to purchase 1249 N Beachwood Drive, a beautifully remodeled five-unit multifamily building in Hollywood, CA. This gated property is situated on a quiet block of Beachwood Drive, one block from Sunset Gower Studios, where a major redevelopment project is expected to add a brand new 15-story office tower and studio space as part of approximately 620,000 square feet of new construction. The spacious one-bedroom units have been completely remodeled, and investors may continue to capitalize on the same classic style that has been implemented in these units. Built in 1923, this property features not only beautifully upgraded interiors, but multiple amenities as well. Recently remodeled units feature in-unit washer/dryers, crystal chandeliers, recessed LED lighting with dimmers, central air and heat, Caesarstone countertops, stainless steel appliances, and fully remodeled bathrooms. The spacious one-bedroom floorplans average approximately 865 square feet, and the studio is a comfortable 400 square feet. The exterior of the property is incredibly clean, with fresh paint, a new fence, new gates with updated intercom/keypad, and manicured hedging, while also offering tenants valuable gated, private parking. The property is situated within one of the most vibrant sections of Hollywood, which is seeing an immense influx of new development and capital. Recently completed Netflix office towers, ICON and EPIC, are within blocks of the building, as is the brand new On Vine campus, which features more Netflix office space in the mixed-use project. Located less than a mile from famous restaurants such as TAO and Beauty & Essex, as well as renowned venues like the Fonda Theatre, this property appeals to those tenants wanting to live the Hollywood lifestyle.

Investment Highlights

  • Incredibly Well-Maintained Asset
  • Prime Hollywood Location, One Block from Planned Expansion of Sunset Gower Studios, Including 620,000 Square Feet of New Construction
  • Spacious Floorplans -- One Bedroom Units Average Approximately 865 Square Feet Each
  • Heavily Upgraded Interiors, Featuring New In-Unit Washer/Dryers, Central Air/Heat, Crystal Chandeliers, Stainless Steel Appliances and Vent Hoods, Hardwood Flooring, New Caesarstone Countertops, New Recessed LED Lighting, and Fully Remodeled Bathrooms
  • Situated Just 1.5 Miles North of Wilshire Country Club and Trendy Shops Along Larchmont Boulevard
  • Wave of Investments into Hollywood Even Prior to the Market Emerging from the Pandemic -- Well Over $1 Billion in Real Estate Sales in Past Year
  • Blocks from the Continuing Netflix Developments at On Vine Complex, and ICON and EPIC Office Towers
  • Secured Parking for All Tenants -- An Extremely Valuable Amenity in the Dense Hollywood Market

Exclusively Listed By

Financing By

Listing Price: $1,795,000

Cap Rate
4.37%
Number of Units
5
Price/Unit
$359,000
Price/Gross SF
$464.79
Gross SF
3,862

Investment Highlights

  • Incredibly Well-Maintained Asset
  • Prime Hollywood Location, One Block from Planned Expansion of Sunset Gower Studios, Including 620,000 Square Feet of New Construction
  • Spacious Floorplans -- One Bedroom Units Average Approximately 865 Square Feet Each
  • Heavily Upgraded Interiors, Featuring New In-Unit Washer/Dryers, Central Air/Heat, Crystal Chandeliers, Stainless Steel Appliances and Vent Hoods, Hardwood Flooring, New Caesarstone Countertops, New Recessed LED Lighting, and Fully Remodeled Bathrooms
  • Situated Just 1.5 Miles North of Wilshire Country Club and Trendy Shops Along Larchmont Boulevard
  • Wave of Investments into Hollywood Even Prior to the Market Emerging from the Pandemic -- Well Over $1 Billion in Real Estate Sales in Past Year
  • Blocks from the Continuing Netflix Developments at On Vine Complex, and ICON and EPIC Office Towers
  • Secured Parking for All Tenants -- An Extremely Valuable Amenity in the Dense Hollywood Market

Investment Overview

Marcus & Millichap is pleased to announce the opportunity to purchase 1249 N Beachwood Drive, a beautifully remodeled five-unit multifamily building in Hollywood, CA. This gated property is situated on a quiet block of Beachwood Drive, one block from Sunset Gower Studios, where a major redevelopment project is expected to add a brand new 15-story office tower and studio space as part of approximately 620,000 square feet of new construction. The spacious one-bedroom units have been completely remodeled, and investors may continue to capitalize on the same classic style that has been implemented in these units. Built in 1923, this property features not only beautifully upgraded interiors, but multiple amenities as well. Recently remodeled units feature in-unit washer/dryers, crystal chandeliers, recessed LED lighting with dimmers, central air and heat, Caesarstone countertops, stainless steel appliances, and fully remodeled bathrooms. The spacious one-bedroom floorplans average approximately 865 square feet, and the studio is a comfortable 400 square feet. The exterior of the property is incredibly clean, with fresh paint, a new fence, new gates with updated intercom/keypad, and manicured hedging, while also offering tenants valuable gated, private parking. The property is situated within one of the most vibrant sections of Hollywood, which is seeing an immense influx of new development and capital. Recently completed Netflix office towers, ICON and EPIC, are within blocks of the building, as is the brand new On Vine campus, which features more Netflix office space in the mixed-use project. Located less than a mile from famous restaurants such as TAO and Beauty & Essex, as well as renowned venues like the Fonda Theatre, this property appeals to those tenants wanting to live the Hollywood lifestyle.

Exclusively Listed By

Financing By

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