2649 N Beachwood Dr, Los Angeles, CA 90068

Property Description

First time on the market in over 50 years. This is a generational real estate buying opportunity to own one of the most iconic properties on Beachwood Drive. Add this to your portfolio now before this opportunity is gone. This could be a once in a lifetime opportunity for the prepared investor as these types of properties are not available very often. Situated below the "HOLLYWOOD" sign this building sits on the most premier lot on Beachwood Drive. This 6 unit apartment consists of (4) 2 bed / 1 bath and (2) 1 bed / 1 bath units. This property is great for any investor looking for a stabilized, cash-flowing asset to add to their portfolio or for a long term hold with unlimited appreciation potential. Current ownership completed the soft story retrofit in 2019. Interior and exterior have been continually upgraded and maintained. The property is 100% leased providing annual gross scheduled income of $123,600. Two of the units are leased at market rates. Three units are slightly below market while the 6th is rented below market to a long term tenant. These units are almost never vacated and fill up within days when available. All the tenants all up to date on rents. The property is separately metered for electricity and gas has separate water heaters for each unit. It is master metered for water. Each unit has its own off-street parking space. Located at the north end of Beachwood Drive, just a short walking distance to shopping and dining.