The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
February 22, 2019
 Search RENTV
 Video Programs
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

Printer-friendly Version   Email an Associate
Private Investor Pays $260k/Unit for Hollywood Multifamily Property


A Los Angeles-based private investor has purchased Beachwood Apartments, a 10-unit apartment property located in Hollywood, for $2.6 mil, or $260k per unit.

Originally built in 1961, this single building, two-story property is located at 1155 Beachwood Ave, on a quiet tree-lined street just a block from the famed Hollywood Forever Cemetery and a short drive to Sunset Blvd. It consists of one two-bedroom and nine one-bedroom units. The property was 100% occupied at time of closing.

The property enjoys a central location, near the 101 Fwy, and is only a half-mile from trendy restaurants, theaters and shopping on Sunset Blvd. The area’s high concentration of job opportunities, lifestyle amenities and central location to the Westside, Downtown, Beverly Hills and other popular regions in the city make it one of Los Angeles’ prime residential communities.

Kimberly Stepp of Stepp Commercial represented the buyer and the seller, Khursan Investments LCC. The property closed at a 3.4% cap rate.

“Hollywood is known as the global heart of the entertainment industry and is undergoing a renaissance with new office locations, entertainment venues and an explosion of restaurants and shopping, making it a highly appealing lifestyle destination,” said Stepp. “The area’s high barriers to entry and low vacancy rates make sourcing quality investment opportunities with significant upside a rare find. This particular asset features current rents well under market averages and is destined for a major repositioning which, when complete, will offer an opportunity for significant rent growth.”

Return to the Archive page



The Foto Finisher


Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2019 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media