1633 N Laurel Avenue, Los Angeles, CA 90046

$9,650,000 Approx. USD 42 beds, 32 baths
29,283 sqft

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Brochure

Photo of Alexander Varney

Marketed By Alexander Varney REALTOR® - Sales Associate 805-640-5660 m
805-640-5660 o
Lic#: 01939679
NRDS ID: 211513725
AlexanderVarney@bhhscal.com Ventura Office
789 S. Victoria Ave., Suite 100
Ventura, CA 93003
Phone: 805-677-7300
Fax: 805-644-8278

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Agent Remarks

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.

Listing Details

Property type: (Multi-Family)

Status: Active

MLS# 26833213

Price: $9,650,000

Beds: 42

Baths: 32

Built in 1953

29,283 sqft

2 stories

0.75 acres

Lot size: 0.7505