Description

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.