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$ 4,900,000
Est. payment /mo
Active
1429 Havenhurst Drive West Hollywood, CA 90046
13,824 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 13,824 sqft
Price per Sqft $354
MLS Listing ID CL26661681
HOA Y/N No
Year Built 1949
Lot Size 0.349 Acres
Acres 0.3495
Property Sub-Type Other
Property Description
Rare opportunity to acquire an 18-unit West Hollywood apartment community just steps from the iconic Chateau Marmont, offered at only $272,000 per unit and $354 per square foot. This fully occupied asset delivers an attractive 5.45% in-place cap rate and 13 GRM, with a projected 8.6% proforma cap rate and 9 GRM through strategic renovations and operational enhancements. We are very pleased to exclusively offer for purchase 1429 N. Havenhurst Drive, a premier 18-unit multifamily investment opportunity located in one of Southern California's most prestigious and supply-constrained rental markets. Situated on a quiet, tree-lined street steps from the most desired portion of the Sunset Strip, Melrose Avenue, and Beverly Hills, the property offers investors immediate scale in a highly sought-after location characterized by affluent demographics, exceptional walkability, and long-term rent growth. Built in 1957, the property consists of a desirable mix of spacious one- and two-bedroom residences featuring abundant natural light, efficient floor plans, and classic mid-century architecture. Ownership has meticulously maintained the asset, which benefits from beautiful landscaping, strong curb appeal, completed seismic retrofitting, and brand-new dual-pane windows throughout significantly reducing future capital expenditure requirements.From a value-add perspective, the investment thesis is outstanding. Investors have the opportunity to renovate interiors and capture substantial rental upside while preserving strong in-place cash flow. Additionally, the property may accommodate up to seven ADUs (Buyer to Verify), increasing the unit count by nearly 40% and creating a significant long-term value creation opportunity. Residents enjoy immediate access to West Hollywood's world-class dining, entertainment, nightlife, and retail amenities, while remaining minutes from major employment centers serving the entertainment, media, technology, and creative industries. This unmatched location continues to attract a deep pool of high-income renters, supporting strong occupancy and sustained rental demand. With 100% occupancy, proven cash flow, significant rental upside, ADU potential, and irreplaceable West Hollywood positioning, 1429 N. Havenhurst Drive represents one of the most compelling multifamily investment opportunities currently available in the Greater Los Angeles area.
Location
State CA
County Los Angeles
Zoning WDR4*
Interior
Heating Forced Air
Cooling Central Air
Fireplace No
Exterior
View Y/N true
View City Lights
Building
New Construction No
Others
Tax ID 5554018011
Virtual Tour https://vimeo.com/1172499076/a0e52df4e4
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Listed by Dana Brody • Dana Brody