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

August 23, 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 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Peter & Cindy Lorimer shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 8/23/2024

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