2447 N Beachwood Dr

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Address: 2447 N Beachwood Dr, Los Angeles, California, US
Created date: May 15, 2024
Date last updated: May 18, 2024

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.

Key Property Information

Listing Status: Pending Sale
Listing Type: Call for offers
Property Types: Apartment Buildings
Price: $5,750,000
No. of Units: 14
Year Built: 1968
Lot Size: 20,222.00 Sq ft
Opportunity Zone: No
Price per unit: $410,714
Property Website Click Here
Number of Bedrooms: 25
Number of Bathrooms: 0
Address: 2447 N Beachwood Dr, Los Angeles, CA 90068, USA
Provided by:

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