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$ 9,650,000
Est. payment | /mo
29,283 SqFt
$ 9,650,000
Est. payment | /mo
29,283 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 29,283 sqft
Price per Sqft $329
MLS Listing ID CL26833213
HOA Y/N No
Year Built 1953
Lot Size 0.751 Acres
Acres 0.7505
Property Sub-Type Other
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
Zoning LAR3
Interior
Heating None
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID 5551016021
© 2026 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Neema Ahadian • Marcus & Millichap
Nearby Locations
9030 BRENTWOOD BLVD, BRENTWOOD, California 94513, United States