Active
11833 Laurelwood Dr
Studio City CA, 91604
$9,150,000
$477.98 per sqft
Active
41 Beds
21 Baths
19,143 sqft
Multi-family
Built in 1949
We are proud to present a rare opportunity to purchase the stunning Historic-Cultural landmark #228, Trophy "Laurelwood Apartments," two 10-unit apartment buildings (separate APN#'s) in the International style of refined modernism, designed by the master architect Rudolph Schindler. Located in ultra-prime Studio City, these buildings are adjacent to major studios and cultural hotspots. 11833 & 11837 Laurelwood Drive are a short distance from the 101 Ventura (1.1 miles) and 405 San Diego (4.9 miles) Freeways, providing easy access to exceptional employment, lifestyle, and leisure options that make Studio City one of Los Angeles' premier neighborhoods/rental markets. Built in 1949 and designed by master architect R. M. Schindler, the property consists of two terraced 2-story buildings. Each building comprises a great unit mix: one with 10 (2+1) units and the other with 9 (2+1) units and 1 (3+2) unit. Units feature thoughtful interior layouts that enhance the sense of space and modernity, with first-floor units offering huge private patios and second-floor units boasting large terraces on the roofs of the units below. First-floor units offer huge private patios, and second-floor units boast large terraces on the roofs of the units below, enhancing the sense of space and modernity. Practical amenities include on-site carport parking, with 10 spaces available per building, and separate water heaters and metering for gas and electric utilities. Furthermore, the property's designation as a Los Angeles Historic-Cultural Monument with an existing Mills Act contract reduces property taxes in exchange for the owner committing to preserving the asset's architectural integrity. This A+ Studio City location "North of the Boulevard" provides unparalleled access to employment opportunities, such as the CBS studios within a block of the property and some of LA's iconic landmarks and culinary destinations, including the famous Sushi Row on Ventura Boulevard (0.2 miles) steps from the property. The nearby Carpenter Community Charter offers excellent educational opportunities, further enhancing the appeal for family-oriented tenants. Studio City, known for its strong demographics and limited competing luxury rental housing, vibrates with cultural and commercial vitality, fueled by its proximity to major entertainment and media hubs. Strategically located at the nexus of accessibility and architectural significance, this property stands as a prime asset in a vibrant and evolving market. It offers investors the potential for significant appreciation and robust returns (over 5.5% in-place CAP), bolstered by sustained high demand from tenants who are drawn to the area's dynamic lifestyle and the elevated experience of occupying a Schindler masterpiece. Additionally, the well-maintained asset presents an opportunity for further value creation through systematic enhancement of unit interiors as they turn over, which will attract tenants willing to pay premium rates for rentals that offer exclusive outdoor spaces and a connection to Southern California's architectural heritage, increasing the property's appeal in a high-demand rental market.
24-416587
MLSⓇ ID
July 17, 2024
Listed
September 13, 2024
Updated
Map
11833 Laurelwood Dr
Studio City CA, 91604
Interior Features
Total Stories
2
Bedrooms
41
Total Bathrooms
21
Appliances
Garbage Disposal, Dishwasher, Range/Oven
Fireplace
No
Cooling
Yes
Cooling Description
Window Unit(s)
Heating
Yes
Heating Description
Wall
Exterior/Building Features
Lot Size
0.89 Acres
Other Property Details
Area Name
Studio City
Days on Market
70
Garage
No
Parking
Carport
Parking Total
21
View
No
County
Los Angeles
Pool
No
Zoning
LA[Q]RD1.5-1VL
Listed by Matthew R. Kanner with Keller Williams Realty Los Feliz
Listing Contact: 323-664-9033
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©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 9/13/2024