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Joe Cloninger

[email protected] +1(323) 386-4663

$ 9,650,000

Est. payment | -/mo

42 Beds

32 Baths

29,283 SqFt

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$ 9,650,000

Est. payment | -/mo

Save

42 Beds

32 Baths

29,283 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 29,283 sqft

Price per Sqft $329

MLS Listing ID 26833213

Bedrooms 42

Year Built 1953

Lot Size 0.751 Acres

Acres 0.7507

Property Sub-Type Multi-Family

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

Area Sunset Strip - Hollywood Hills West

Zoning LAR3

Rooms

Other Rooms None

Interior

Heating None

Cooling None

Equipment None

Exterior

Parking Features Carport

Garage Spaces 30.0

Building

Story 2

Level or Stories Two

Others

Special Listing Condition Standard

The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Marcus & Millichap

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CONTACT US

+1(323) 386-4663

[email protected]

1633 N Laurel Ave Los Angeles, CA 90046