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$ 9,650,000
Est. payment /mo
New
1633 N Laurel AVE Los Angeles, CA 90046
42 Beds
32 Baths
29,283 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 29,283 sqft
Price per Sqft $329
MLS Listing ID 26833213
Bedrooms 42
HOA Y/N No
Year Built 1953
Lot Size 0.750 Acres
Property Description
We are pleased to present 1633 N Laurel Avenue, a 30-unit multifamily investment opportunity located in one of Los Angeles' most supply-constrained and consistently high-demand rental markets. Positioned just south of Hollywood Boulevard between Laurel Canyon and Crescent Heights, the property benefits from immediate access to premier lifestyle amenities, major employment centers, and some of the city's most desirable residential neighborhoods. The asset features a well-balanced unit mix of twenty one-bedroom units, eight two-bedroom units, and two three-bedroom units, totaling approximately 29,283 square feet on a 32,692 SF lot, with one parking space per unit and a landscaped courtyard-style layout that enhances tenant appeal and livability. The property has undergone extensive capital improvements, including a new roof, upgraded electrical and plumbing systems, individual unit furnaces, improved common areas, and enhanced security infrastructure, providing operational stability and minimizing near-term capital expenditure requirements. Offered at $9,650,000, the investment generates a current 5.02% cap rate with a path to 6.09% at market rents, representing approximately 16% upside through the mark-to-market of remaining below-market units. The offering equates to approximately $321,667 per legal unit and $329 per square foot, with a current GIM of 12.08 and a market GIM of 10.40. Supported by limited new supply, strong renter demand, and favorable demographics, 1633 N Laurel Avenue represents a stabilized, well-maintained 30-unit asset with meaningful upside in one of Southern California's most desirable rental corridors.
Location
State CA
County Los Angeles
Area C03 - Sunset Strip - Hollywood Hills West
Zoning LAR3
Interior
Heating None
Cooling None
Fireplace No
Exterior
Parking Features Carport
Total Parking Spaces 30
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5551016021
Special Listing Condition Standard
Listed by Neema Ahadian Marcus & Millichap #01346750
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