2430 Ocean View Avenue, Los Angeles, CA 90057 For Sale

2430 Ocean View Ave, also known as Chateau Nob Hill Apartments, offers the opportunity to acquire a 52-unit multifamily asset in the centrally located Westlake neighborhood of Los Angeles. Originally constructed in 1929, the property sits on a ~13,024 SF lot and features a well-balanced unit mix consisting of (29) studio units, (17) one-bedroom / one-bath units, (3) two-bedroom / two-bath units, (2) three-bedroom / two-bath units, and (1) bachelor unit. The studio and one-bedroom units make up the majority of the property, appealing to a broad renter base and supporting consistent occupancy.

The asset offers strong in-place income with additional upside through rent growth and continued operational efficiencies. The property is well maintained with classic interior finishes, providing investors with stable cash flow and the ability to organically increase revenue over time through natural tenant turnover.

Current rents average approximately $1,723 per unit compared to projected market rents of approximately $1,947 per unit, representing approximately 13% rental upside. In addition to rental income, the property benefits from multiple ancillary income streams including parking, RUBS, laundry, storage, and other income sources, contributing to a diversified and resilient revenue profile.

Offered at $7,300,000 ($140,385 per unit / ~$138 PSF), the property presents investors with immediate cash flow and a stabilized investment opportunity within a high-demand, centrally located Los Angeles submarket. Buyer to independently verify all building systems and structural considerations.