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ResidentialIncome — 2430 Ocean View Avenue, Los Angeles, CA

$7,300,000

2430 Ocean View Avenue, Los Angeles, CA

$7,300,000 — 2430 Ocean View Avenue, Los Angeles, CA — photo 1 $7,300,000 — 2430 Ocean View Avenue, Los Angeles, CA — photo 2 $7,300,000 — 2430 Ocean View Avenue, Los Angeles, CA — photo 3 $7,300,000 — 2430 Ocean View Avenue, Los Angeles, CA — photo 4 $7,300,000 — 2430 Ocean View Avenue, Los Angeles, CA — photo 5
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About this property

2430 Ocean View Ave | Chateau Nob Hill Apartments | 52-Unit Multifamily Investment in Westlake, Los Angeles. Originally constructed in 1929 on a ~13,024 SF lot with ~52,871 SF of improvements, this centrally located Los Angeles asset features a well-balanced unit mix consisting of (29) studio units, (17) 1-bed/1-bath units, (3) 2-bed/2-bath units, (2) 3-bed/2-bath units, and (1) bachelor unit. The property offers strong in-place income with approximately $561,103 in current NOI and a 7.69% in-place cap rate, supported by diversified revenue streams including parking, RUBS, laundry, storage, and other ancillary income. Offered at $7,300,000 ($140,385/unit | ~$138/SF) with a 6.79 current GRM and 5.93 pro forma GRM, the asset presents investors with stable cash flow, approximately 13% rental upside through natural tenant turnover, and an attractive basis for a 52-unit vintage asset in central Los Angeles.

Property details

Square feet
52,871
Year built
1929
Property type
ResidentialIncome

Location

2430 Ocean View Avenue • Los Angeles, CA 90057

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Listed by

Taylor Avakian · Lyon Stahl Investment Real Estate, Inc.

Listing courtesy of Lyon Stahl Investment Real Estate, Inc.. Information deemed reliable but not guaranteed.

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