Property listed by Marcus & Millichap, Saadia 'Sam' Liberow 818-212-2700
$2,995,000
This prime Beverly Grove investment offers a rare opportunity to acquire a stabilized, fully modernized 8-unit multifamily asset (7,008 SF) on the prestigious Blackburn Avenue. Perfectly positioned steps from the Golden Triangle, The Grove, and West Hollywood, the property features a mix of four 1+1 and four 2+1.75 units, all… Read More boasting modern finishes and separately metered utilities. A unique value-add component includes six units currently curated as specialized furnished housing for Cedars-Sinai medical professionals; this successful mid-term rental model has been operated by the current owner since 2018 with minimal downtime and high tenant retention. Located adjacent to the Beverly Connection - recently acquired by Cedars-Sinai for a $270M expansion - the property is poised to benefit from massive institutional growth and a permanent influx of high-income healthcare staff. Meticulously maintained and turnkey, this asset provides an exceptional cap rate and significant long-term upside in one of Los Angeles' most supply-constrained employment hubs. Read Less
Listing Snapshot
Days Online
1
Last Updated
Beds
12
3/4 Baths
10
Square Ft.
7,008
Lot Size
0.14 Acres
Year Built
1957
MLS Number
26995481
Additional Details
Building
Built in 1957, Living area: 7008.0, 1 building, Levels: MultiSplit
Heating
WallFurnace
Income
Gross Income: $277,560, Net Operating Income: $180,579
Lot
0.1435 acres
Parking
8 total parking spaces, Garage, Tandem
Taxes
Parcel Number: 5511033027, Zoning: LAR3
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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