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$ 3,250,000
Est. payment | /mo
7,008 SqFt
$ 3,250,000
Est. payment | /mo
7,008 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 7,008 sqft
Price per Sqft $463
MLS Listing ID CL26667481
HOA Y/N No
Year Built 1957
Lot Size 6,251 Sqft
Acres 0.1435
Property Sub-Type Other
Property Description
This prime Beverly Grove investment offers a rare opportunity to acquire a stabilized, fully modernized 8-unit multifamily asset (7,008 SF) on the prestigious Blackburn Avenue. Perfectly positioned steps from the Golden Triangle, The Grove, and West Hollywood, the property features a mix of four 1+1 and four 2+1.75 units, all boasting modern finishes and separately metered utilities. A unique value-add component includes six units currently curated as specialized furnished housing for Cedars-Sinai medical professionals; this successful mid-term rental model has been operated by the current owner since 2018 with minimal downtime and high tenant retention. Located adjacent to the Beverly Connection - recently acquired by Cedars-Sinai for a $270M expansion - the property is poised to benefit from massive institutional growth and a permanent influx of high-income healthcare staff. Meticulously maintained and turnkey, this asset provides an exceptional cap rate and significant long-term upside in one of Los Angeles' most supply-constrained employment hubs.
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Wall Furnace
Fireplace No
Building
New Construction No
Others
Tax ID 5511033027
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Listed by Saadia 'Sam' Liberow • Marcus & Millichap
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