Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Bedrooms

8

Building size

7,008 sqft

Lot size

6,251 sqft

Year built

1957

Stories

0

Heating

Wall Furnace

Status

Active

Days on market

8

MLS #

247643145

About this property

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

8436 Blackburn Avenue

Los Angeles, Los Angeles, CA, 90048