$7,300,000
About this home
2430 Ocean View Ave | Chateau Nob Hill Apartments | 52-Unit Multifamily Investment in Westlake, Los Angeles. Originally constructed in 1929 on a ~13,024 SF lot with ~52,871 SF of improvements, this centrally located Los Angeles asset features a well-balanced unit mix consisting of (29) studio units, (17) 1-bed/1-bath units, (3) 2-bed/2-bath units, (2) 3-bed/2-bath units, and (1) bachelor unit. The property offers strong in-place income with approximately $561,103 in current NOI and a 7.69% in-place cap rate, supported by diversified revenue streams including parking, RUBS, laundry, storage, and other ancillary income. Offered at $7,300,000 ($140,385/unit | ~$138/SF) with a 6.79 current GRM and 5.93 pro forma GRM, the asset presents investors with stable cash flow, approximately 13% rental upside through natural tenant turnover, and an attractive basis for a 52-unit vintage asset in central Los Angeles.
Facts & features
- Bedrooms
- 0
- Bathrooms
- 0 full, 0 half
- Living area
- 52,871 sq ft
- Heating
- Wall Furnace
- Levels
- Multi Split
- Lot size
- 0.299 acres (13,028 sq ft)
- Year built
- 1929
- Parking
- Underground
- Parking spaces
- 20
- Area
- C 42 - Downtown L.A.
- County
- Los Angeles
- Status
- Active
- Property type
- Residential Income
- Days on market
- 56
- Listed
- 2026-05-05
- Original price
- $8,000,000
- Parcel #
- 5154038006
- MLS #
- 26831741
