REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Ernie Caponera

ernie@newport-properties.com +1(714) 606-0926

$4,900,000

Est. payment - /mo

20 Beds

19 Baths

13,824 SqFt

Save Virtual Tour

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 13,824 sqft

Price per Sqft $354

MLS Listing ID 26661681

Bedrooms 20

HOA Y/N No

Year Built 1949

Lot Size 0.349 Acres

Property Description

Rare opportunity to acquire an 18-unit West Hollywood apartment community just steps from the iconic Chateau Marmont, offered at only $272,000 per unit and $354 per square foot. This fully occupied asset delivers an attractive 5.25% in-place cap rate and 13.0 GRM, with a projected 8.6% proforma cap rate and 9.0 GRM through strategic renovations and operational enhancements. Even more compelling, the property features an exceptional 2.76% interest-only assumable loan through 2030 at approximately 50% loan-to-value, creating immediate positive leverage and the potential for 10%+ cash-on-cash returns in today's high-interest-rate environment. 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 residences featuring abundant natural light, efficient 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, below-market assumable financing, 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.

Location

State CA

County Los Angeles

Area C10 - West Hollywood Vicinity

Zoning WDR4*

Interior

Heating Forced Air

Cooling Central Air

Fireplace No

Exterior

Parking Features Community Structure

View Y/N Yes

View City Lights

Total Parking Spaces 18

Building

Faces South

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5554018011

Acceptable Financing Cash

Listing Terms Cash

Financing Assumed,Cash

Special Listing Condition Standard

Virtual Tour https://vimeo.com/1172499076/a0e52df4e4

Read Less Info

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Dana Brody Dana Brody #01429001

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(714) 606-0926

ernie@newport-properties.com

2747 E COAST HWY Unit 200, CORONA DEL MAR, California, 92625, USA

1429 Havenhurst DR West Hollywood, CA 90046

Ernie Caponera

Key Details

Location

Interior

Exterior

Building

Others

Nearby Locations

GET MORE INFORMATION

Go tour this home

1429 Havenhurst DR