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$ 18,500,000
Est. payment | /mo
48 Baths
33,462 SqFt
$ 18,500,000
Est. payment | /mo
48 Baths
33,462 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 33,462 sqft
Price per Sqft $552
MLS Listing ID 26842459
HOA Y/N No
Year Built 1984
Lot Size 0.403 Acres
Property Description
The Studio Arnaz Apartments are located at 320 S Arnaz Dr. The offering is a 48-unit Non-RSO (AB1482) multifamily investment opportunity in Beverly Grove, one of Los Angeles' premier rental neighborhoods. Built in 1984 and encompassing 33,462 SF of improvements on a 17,424 SF parcel, the property features 48 large studio apartment units, all of which include large private balconies offering panoramic views of the Hollywood Hills, West Hollywood, and Beverly Hills. The property is ideally situated just moments from two of Los Angeles's most influential economic and cultural hubs: Cedars-Sinai Medical Center and the vibrant Robertson Boulevard corridor. Cedars-Sinai, one of the nation's top-ranked hospitals and the region's largest employer, attracts a steady flow of medical professionals, researchers, and staff, creating consistent housing demand. Robertson Boulevard further enhances the neighborhood's status as one of the country's most exclusive retail corridors, with its restaurants and ultra-luxury retail. This exceptional location offers residents immediate access to a broad range of amenities, entertainment destinations, and major employment centers. Historically, the submarket has delivered strong long-term rent growth, outstanding appreciation, and reliable value preservation for investors. 320 S Arnaz benefits from a strong, market-tested unit mix known for its reliability and broad renter appeal, featuring open floor plans, stainless steel appliances, wood-style flooring, window treatments, and wall A/C units. Combined with the property's premium location and larger-than-average floor plans, the building consistently attracts an affluent, professional, and reliable renter base, resulting in stable in-place income. New ownership will have the opportunity to realize the property's full rental potential. With thoughtful modernization of both unit interiors and common areas as vacancies occur, a new operator has a significant opportunity to elevate the asset's positioning, drive substantial revenue growth, and unlock the long-term value inherent in this exceptionally located building. The property offers a range of practical and desirable amenities, including gated on-site parking (48 secured spaces), a secure street-level entrance with intercom, common-area laundry facilities, an in-place security system with cameras throughout, and large private balconies for all units. This multifamily asset is positioned in one of Los Angeles' most coveted micro-markets, Beverly Grove, just 300 feet from the Beverly Hills border. Its location offers residents immediate access to the prestige, lifestyle, and high-income demographics that define the Westside's most desirable neighborhoods. Situated one block from Cedars-Sinai Medical Center, one of the nation's top hospitals and a major employment hub, the property benefits from exceptionally strong and stable rental demand from medical professionals, staff, and patients' families seeking nearby housing. Additionally, the building sits just steps from the world-class shopping, dining, and walkable urban energy of Robertson Boulevard, home to premier boutiques, upscale eateries, and daily conveniences. This combination of proximity to Beverly Hills, adjacency to major employment centers, and access to signature lifestyle amenities creates a highly attractive, irreplaceable location poised for long-term tenant demand and sustained asset value growth. In addition to the above, 320 S Arnaz benefits from cutting-edge operational systems, including utility recapture through a RUBS (Ratio Utility Billing System) implementation and other advanced management strategies. These modern operations not only streamline day-to-day management but also maximize revenue and reduce expenses - giving a new owner an immediate, hands-on advantage in efficiency and profitability.
Location
State CA
County Los Angeles
Area C19 - Beverly Center-Miracle Mile
Zoning LAR3
Interior
Fireplace No
Exterior
Parking Features Covered, Gated
Total Parking Spaces 48
Building
Story 3
Entry Level Three Or More
Level or Stories Three Or More
New Construction No
Others
Senior Community No
Tax ID 4334011057
Special Listing Condition Standard
Listed by Nick Astrupgaard KW Commercial Studio City #01893466
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "