20-Bedroom ResidentialIncome — 1429 Havenhurst Drive, West Hollywood, CA
$4,800,000
1429 Havenhurst Drive, West Hollywood, CA
About this property
Rare opportunity to acquire an 18-unit West Hollywood apartment community just steps from the iconic Chateau Marmont, attractively priced at $266,000 per unit and $347 per square foot. This fully occupied asset delivers an attractive 5.35% in-place cap rate and 13 GRM, with a projected 8.6% proforma cap rate and 9 GRM through strategic renovations and operational enhancements. 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 light and bright residences featuring spacious 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, 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.
Property details
Location
1429 Havenhurst Drive • West Hollywood, CA 90046
Listed by
Dana Brody · Dana Brody