1001 N Croft Ave - Apartments FOR SALE


Los Angeles, CA 90069- Beverly Grove
$3,795,000 USD
310-779-9929
1001 N Croft Ave, Los Angeles, CA for Sale
$3,795,000 USD
Apartments - FOR SALE
1/15
null | 5.01% Cap Rate

1001 N Croft Ave
Los Angeles, CA 90069
Beverly Grove


HIGHLIGHTS

  • Built in 1988 not subject to LA RSO
  • West Hollywood zip code 90069 in Los Angeles
  • Excellent unit mix 6 2+2s and 2 1+1s
  • Value-add opportunity

OVERVIEW

True North CRE is pleased to present 1001 N. Croft Avenue, an eight-unit multifamily investment opportunity in one of Los Angeles' most supply-constrained rental submarkets. Built in 1988, the property is exempt from the Los Angeles Rent Stabilization Ordinance (LARSO) and is governed solely by AB 1482, giving ownership meaningful flexibility rarely found in this location. In-place rents sit approximately 20% below market, and because the property falls outside LARSO, a new owner can immediately implement the full 8.7% rent increase currently permitted under AB 1482 on seven of the eight units. This combination of day-one income growth and long-term mark-to-market upside, in a non-rent-controlled asset west of La Brea, positions 1001 N. Croft Avenue as a rare opportunity to acquire durable cash flow with a clear path to significantly higher returns. The unit mix consists of six spacious two-bedroom, two-bathroom units and two one-bedroom, one-bathroom units. Each unit is fully equipped with a gas stove, dishwasher, refrigerator, microwave, and in-unit washer and dryer, complemented by granite countertops and wood flooring throughout. Central air conditioning and heat in every unit further distinguishes the property from its competitive set. Private outdoor space is a defining feature: every unit enjoys a balcony, while Units 201 and 204 each feature two patios, and top-floor units are enhanced by vaulted ceilings. Parking is well provided — seven tandem spaces and one single space give every unit dedicated on-site parking, and one unit has been upgraded with a tenant-installed EV charger. Utility structure is investor friendly, with ownership responsible only for water, trash, and sewer. 1001 N. Croft Avenue sits in the heart of the West Hollywood / Beverly Grove corridor, one of the most desirable and consistently high-performing rental locations in Los Angeles. Residents are moments from the Melrose District's shopping and dining, the Santa Monica Boulevard commercial corridor, and the design showrooms of the West Hollywood Design District. The Beverly Center, The Grove, and Cedars-Sinai Medical Center — one of the region's largest employers — are all within a short drive, with the employment centers of Century City, Beverly Hills, and Hollywood's studio and media campuses minutes away. All financial information assumes the allowable rent increase of 8.7% is given by the buyer.

FOR SALE DETAILS

PRICE

$3,795,000 USD

PRICE/SF

$481 USD /SF

# OF UNITS

8

PRICE/UNIT

$474,375

CAP RATE

5.01%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1988

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,499 SF

ZONING

R3-1

APN/PARCEL ID

5529-007-027

ASK ABOUT THIS PROPERTY

John SwartzCompass CommercialMore Info
310-779-9929

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John SwartzCompass CommercialMore Info
310-779-9929

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.