Multi-Family•Mid-Rise•For Sale

2119 N Beachwood Drive

2119 N Beachwood Drive, Los Angeles, California 90068

Sale Price $5,500,000
Sale Type Investment
Zoning [Q] R3-1XL
Bldg Type Multi-Tenant
Year Built 1956
Stories 2
Vacancy 100%
Gross Bldg 13,392 SqFt
RBA 12,436 SqFt
Land Area .29 Acres
Project Size 17
Market Los Angeles
Sub-Market Hollywood
We are proud to offer for sale 2119 North Beachwood Drive, a rare opportunity to purchase a 17-unit multifamily investment located in the Hollywood Hills. Originally constructed in 1956, the property is a striking two-story structure over secured, subterranean parking. This offering presents a unique opportunity to acquire an asset that is in excellent condition and provides a huge amount of remaining upside potential in the rents. 2119 N. Beachwood Drive offers the perfect blend between a stabilized asset and a value-add opportunity. The property has been extensively renovated inside and out yet offers over 33% remaining upside potential in rents. Exterior renovations to the property include the replacement of nearly all front and south-facing windows throughout the property. Architectural detail was added to the front of the building for enhanced curb appeal and the exterior of the property was painted completely. Drought-resistant landscaping was installed at the front of the property as well as in the courtyard. Six of the apartments were beautifully renovated in their entirety, demonstrating the demand for luxury units in the neighborhood. These units feature modern finishes including new vinyl plank flooring in the living areas and tile flooring in the kitchens and bathrooms. The kitchens feature quartz countertops, designer backsplashes, high-end stainless steel appliances, custom cabinetry and beautiful hardware. Additional custom cabinetry lines the hallways for abundant storage. In addition to the six completely renovated units, four of the apartments underwent complete bathroom renovations with the same high-end designer finishes used in the other renovated apartments. Amenities at 2119 N. Beachwood Drive include secured, subterranean parking for every unit, a tranquil courtyard, a laundry room, and a security camera system. Additionally, the property is separately metered for gas and electricity and per the seller, 90-95% of the plumbing has been upgraded to copper. Located in a premier pedestrian location the asset benefits from easy access to employers, major studios, financial firms, entertainment and historic attractions. Hollywood has seen a tremendous revitalization over the last decade. An influx of capital dedicated to the revitalization of Hollywood has attracted a new resident base of young urban dwellers. This new, hip client base has brought new restaurants, night clubs, and retail opportunities, making Hollywood one of the more desirable submarkets in the greater Los Angeles area.
  • > Prime Beachwood Canyon location in the Hollywood Hills
  • > Over 33% potential upside in rent
  • > Secured, subterranean parking
  • > Extensively renovated with beautiful high-end finishes
  • > Complete renovation of exterior and common areas
10/2/2019 9:10:43 PM 10/2/2019 9:10:43 PM
Kirk Garabedian
Director
KW Commercial

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