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2447 N Beachwood Drive

Los Angeles (City), CA 90068
  • $5,750,000
  • STATUS: Pending
  • ON SITE: 48 Days
  • ID#: 24364579
Pending
UPDATED: 116 min ago
$5,750,000
  • 25
    BEDS
  • 0.28
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 20,222
    SQFT
  • $284
    $/SQFT
Type:
Multi-Family
Built:
1968
County:

School Ratings & Info

Listing Agent(s): Robert Renshaw of REMAX COMMERCIAL & INVESTMENT REALTY (310-802-2500)


Description

7 of 14 UNITS VACANT! We are pleased to present the opportunity to acquire a highly unique 14-unit apartment building in the renown and sought-after Beachwood Canyon neighborhood of Hollywood, CA. 2449 N Beachwood Dr was built in 1968 with many classic mid-century elements including wet bars, fireplaces, 2-story layouts and jack-and-jill bathrooms. The building sits under the shadow of the world-famous Hollywood sign and is only a short walk from neighborhood staples like the Beachwood Cafe and Beachwood Market. 11 of the 14 units are 2-story townhouse style featuring 2 bedrooms and 1-1/2 bathrooms with an average size of 1400 square feet. There is on-site laundry, parking for 18 vehicles and the building has controlled access. The roof was recently replaced with permits and the soft story retrofit has been completed with a certificate of compliance issued by the city. A total of 7 currently vacant units makes this a particularly compelling opportunity as it allows a buyer to immediately renovate and lease up half of the building's units at market rents. Recently renovated 2-bedroom units in 1960s construction buildings further south on Beachwood are renting for $4200. Those are smaller, single-level units. The tremendous rental upside potential of Beachwood Canyon is due in large part to the area's popularity and reputation among out-of-state transplants willing to pay sizable rents for well-appointed units on the venerable street. 2449 N Beachwood offers an astute investor the immediate opportunity to create a high-luxury, midcentury gem in one of the most desirable submarkets in the city.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-22T18:51:40.093. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
www.kevinhillre.com/homes/148266027
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2447 N Beachwood Drive Los Angeles (City), CA 90068

  • Price: $5,750,000
  • Status: Pending
  • On Site: 48 Days
  • Updated: 116 min ago
  • ID#: 24364579
25
Beds
0
Baths
0
½ Baths
0.28
Acres
20,222
SQFT
$284
$/SQFT
1968
Built
Neighborhood:
C30 - Hollywood Hills East
County:
Los Angeles
Area:
C30 - Hollywood Hills East
Property Description
7 of 14 UNITS VACANT! We are pleased to present the opportunity to acquire a highly unique 14-unit apartment building in the renown and sought-after Beachwood Canyon neighborhood of Hollywood, CA. 2449 N Beachwood Dr was built in 1968 with many classic mid-century elements including wet bars, fireplaces, 2-story layouts and jack-and-jill bathrooms. The building sits under the shadow of the world-famous Hollywood sign and is only a short walk from neighborhood staples like the Beachwood Cafe and Beachwood Market. 11 of the 14 units are 2-story townhouse style featuring 2 bedrooms and 1-1/2 bathrooms with an average size of 1400 square feet. There is on-site laundry, parking for 18 vehicles and the building has controlled access. The roof was recently replaced with permits and the soft story retrofit has been completed with a certificate of compliance issued by the city. A total of 7 currently vacant units makes this a particularly compelling opportunity as it allows a buyer to immediately renovate and lease up half of the building's units at market rents. Recently renovated 2-bedroom units in 1960s construction buildings further south on Beachwood are renting for $4200. Those are smaller, single-level units. The tremendous rental upside potential of Beachwood Canyon is due in large part to the area's popularity and reputation among out-of-state transplants willing to pay sizable rents for well-appointed units on the venerable street. 2449 N Beachwood offers an astute investor the immediate opportunity to create a high-luxury, midcentury gem in one of the most desirable submarkets in the city.
Exterior Features

Carport YN Yes Parking Features Carport Parking Total 18

Interior Features

Heating Radiant Heating YN Yes

Property Features

Association YN No Gross Income 458208 Levels Three Or More Listing Agreement Exclusive Right To Sell Listing Service Full Service Net Operating Income 291626 New Construction YN No Senior Community YN No Special Listing Conditions Standard Zoning LARD2



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-22T18:51:40.093. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
 
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Berkshire Hathaway HomeServices California Properties
25909 Pala Dr, Suite 100
Mission Viejo CA, 92691
Listing Agent(s): Robert Renshaw of REMAX COMMERCIAL & INVESTMENT REALTY (310-802-2500)