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$4,900,000
Est. payment /mo
20 Beds
19 Baths
13,824 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 13,824 sqft
Price per Sqft $354
MLS Listing ID 26661681
Bedrooms 20
HOA Y/N No
Year Built 1949
Lot Size 0.349 Acres
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 5.25% in-place cap rate and 13.0 GRM, with a projected 8.6% proforma cap rate and 9.0 GRM through strategic renovations and operational enhancements. Even more compelling, the property features an exceptional 2.76% interest-only assumable loan through 2030 at approximately 50% loan-to-value, creating immediate positive leverage and the potential for 10%+ cash-on-cash returns in today's high-interest-rate environment. 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, below-market assumable financing, 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
Area C10 - West Hollywood Vicinity
Zoning WDR4*
Interior
Heating Forced Air
Cooling Central Air
Fireplace No
Exterior
Parking Features Community Structure
View Y/N Yes
View City Lights
Total Parking Spaces 18
Building
Faces South
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5554018011
Acceptable Financing Cash
Listing Terms Cash
Financing Assumed,Cash
Special Listing Condition Standard
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Listed by Dana Brody Dana Brody #01429001
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