1633 N Laurel AVE, Los Angeles, CA 90046
1633 N Laurel AVE, Los Angeles, CA 90046
1633 N Laurel AVE, Los Angeles, CA 90046
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$9,650,000
Est. payment /mo
42 Beds
32 Baths
29,283 SqFt
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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

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Listed by Neema Ahadian Marcus & Millichap #01346750

NEARBY SCHOOL & BUSINESS

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