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$7,300,000
Est. payment /mo
52,871 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 52,871 sqft
Price per Sqft $138
MLS Listing ID CL26831741
HOA Y/N No
Year Built 1929
Lot Size 0.299 Acres
Acres 0.2991
Property Sub-Type Other
Property Description
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.
Location
State CA
County Los Angeles
Zoning LAR4
Interior
Heating Wall Furnace
Fireplace No
Building
New Construction No
Others
Tax ID 5154038006
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Listed by Taylor Avakian • Lyon Stahl Investment Real Estate, Inc.
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