1236 N Ogden Dr - Apartments FOR SALE


Los Angeles, CA 90046
$3,750,000 USD
213-305-9026
1236 N Ogden Dr, Los Angeles, CA for Sale
$3,750,000 USD
Apartments - FOR SALE
1/13
null | 5.5% Cap Rate

1236 N Ogden Dr
Los Angeles, CA 90046


HIGHLIGHTS

  • Exceptional 10-Unit Multifamily Opportunity in a Premier West Hollywood Location
  • The Property Offers Two (2) Huge 2-Bed/2-Bath plus Den units, Two (2) 2-Bed/2- Bath Units, and Six (6) Spacious 1-Bed/1-Bath Apartment Homes
  • Five Units have New Flooring, Updated Baths and Kitchens, Designer Appliances, Crown Molding, MiniSplit A/C units, and Washers/Dryers in Select Units
  • Completed Seismic Upgrades, New Electrical Panel, New Water Heater, New Plumbing in Half the Building, New Rain Gutters, All New Windows/Glass Doors
  • 1236 N Ogden Drive is Situated on One of West Hollywood's Best Blocks near Santa Monica Blvd. The Property Features a WalkScore of 95 out of 100
  • Ample Parking with 14 Spaces and Seismic Retrofit Work has Been Completed

OVERVIEW

KW Commercial is pleased to present 1236 N Ogden Drive, West Hollywood, CA, an exceptionally well-operated asset with substantial upside. This 10-unit West Hollywood apartment community is centrally located between Fountain Avenue and Santa Monica Blvd., just one block from Whole Foods and other popular attractions. West Hollywood multifamily investments have historically provided investors exceptional long-term capital appreciation and wealth preservation. 1236 N Ogden Drive, built in 1964, features an ideal unit composition of two (2) huge 2-Bedroom/2-Bathroom plus Den units, two (2) 2-Bedroom/2- Bathroom units, and six (6) spacious 1-Bedroom/1-Bathroom units. The units are large, averaging nearly 1,000 sf/unit. Current ownership has overseen top-to-bottom renovation of five of the ten units, attracting the most discerning tenants and setting the market for strong rents. Remodeled units boast new stylish flooring, updated bathrooms and kitchens, designer appliances, crown molding, mini-split A/C units, along with washer/dryers in select units. As additional units turn over, further enhancements could be made. Property amenities include 14 tucked-under parking spaces (with individual storage compartments), an on-site laundry room, and balconies on five units. The apartment homes are individually metered for gas and electrical utilities, keeping the owner's expenses low. Recent capital improvements include a) Tuck-Under Parking Seismic Retrofit (2019/2020), b) New Electric Gate to Parking (2023), c) Brand New 400 amp Electrical Panel (2024), d) New 100 Gallon Commercial Water Heater (2024), e) New Copper Plumbing and Cast Iron Drain Lines in Half the Building (2021/2022), and f) New Rain Gutters (2024), g) All New Double-Paned Windows and Sliding Glass Doors (2019). The asset is located close to world-class dining, shopping, entertainment, and nightlife in West Hollywood and further benefits from access to business services and major employment centers throughout the city and its surrounding neighborhoods. There is substantial rental upside based on current market rents vs. existing rents, thus representing a strong long-term investment opportunity in an exceptional West Hollywood location.

FOR SALE DETAILS

PRICE

$3,750,000 USD

PRICE/SF

$328 USD /SF

# OF UNITS

10

PRICE/UNIT

$375,000

CAP RATE

5.5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

10 Huge Units in Prime West Hollywood

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

WDR3C*

APN/PARCEL ID

5530-003-007

ASK ABOUT THIS PROPERTY

Rich JohnsKW CommercialMore Info
213-305-9026

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Rich JohnsKW CommercialMore Info
213-305-9026

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