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    1222 Beachwood Dr Los Angeles, CA 90038

    Sponsored
    For Sale
    $1,900,000

    Prime Hollywood location, RTI plans, 11 units.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This exceptional redevelopment opportunity presents a fully entitled 11-unit apartment building project in the highly desirable Hollywood, CA 90038 zip code. Ready-to-issue (RTI) plans are in place for a modern 4-story building featuring a mix of 8 market-rate and 3 low-income units, totaling 11,107 square feet with 9,547 square feet of livable space. The unit mix includes four 1-bedroom/1-bathroom, two 2-bedroom/2-bathroom, and five 3-bedroom/3-bathroom units. The project includes 14 vehicle parking spaces and 24 bicycle spaces (20 long-term, 4 short-term). Situated on a 6,752 square foot lot zoned LAR3, this development boasts a convenient location with a Walkscore of 88, placing it within easy walking distance of iconic landmarks and vibrant entertainment options. The property benefits from its location within an Opportunity Zone, offering potential tax incentives (buyer to verify). This prime location, combined with the existing RTI plans and desirable unit mix, presents a compelling investment opportunity with significant potential for appreciation. The absence of an existing structure eliminates the costs associated with demolition or tenant buyouts. This project offers investors a chance to contribute to Hollywood's ongoing revitalization and create a residential landmark in a highly sought-after neighborhood.

    Property Features for 1222 Beachwood Dr

    General Information

    Property type
    Multifamily properties

    HighLights

    • 6,752 SF lot in a Tier 2 Transit Oriented Community (TOC) zone.
    • Ready‑to‑issue (RTI) plans for an 11‑unit apartment building.
    • Unit mix: 4 (1 bed/1 bath), 2 (2 bed/2 bath), and 5 (3 bed/3 bath) units.
    • 88 Walk Score, steps from Hollywood Blvd, Santa Monica Blvd, and Melrose Ave.
    • Located in a California Opportunity Zone; potential tax incentives (buyer to verify).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.3208966
    Latitude
    34.0932781

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    FAQs

    What type of property is this?
    Multifamily property - Prime Hollywood location, RTI plans, 11 units.
    Where is this multifamily property located?
    The property is located at 1222 Beachwood Dr Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $1,900,000.
    What are key features of this property?
    This property features: 6,752 SF lot in a Tier 2 Transit Oriented Community (TOC) zone.; Ready-to-issue (RTI) plans for an 11-unit apartment building.; Unit mix: 4 (1 bed/1 bath), 2 (2 bed/2 bath), and 5 (3 bed/3 bath) units.
    Request Owner's contact information
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    Los Angeles, CA 90038
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1222 Beachwood Dr Los Angeles, CA 90038
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