Description

We are pleased to present 1010 S. Bedford Street, a 12-unit multifamily asset located in the highly sought-after Pico-Robertson / Beverlywood-adjacent submarket of West Los Angeles. Offered for the first time since 2007, this property represents a rare opportunity to acquire a well-maintained, professionally managed building with significant embedded rental upside in a supply-constrained, high-barrier location. Constructed in 1963, the three-story, elevator-served property features a highly desirable unit mix of large one- and two-bedroom apartments, with an average unit size exceeding 1,075 square feet. In-place rents remain approximately 27% below market, providing a clear and achievable path to income growth through natural turnover and modest interior enhancements, without reliance on aggressive repositioning or speculative assumptions. Long-term ownership has taken a proactive approach to capital stewardship, substantially reducing near-term maintenance risk. Major systems have been addressed over time, including electrical panel replacement, full window replacement, roof recoating, water heater replacement, and recent exterior repainting with fascia sealing. Combined with previously completed plumbing, elevator, and life-safety upgrades, the property offers investors a clean physical plant with minimal deferred maintenance exposure, allowing capital to be allocated toward revenue-generating improvements rather than infrastructure remediation. The asset is priced below replacement cost, offering investors an attractive basis in a market where new multifamily construction is increasingly cost-prohibitive. This positioning provides downside protection while enhancing long-term appreciation potential as rents are brought closer to market levels. Situated at the corner of Bedford Street and Olympic Boulevard, the property benefits from immediate proximity to Beverly Hills, Century City, Miracle Mile, and major employment centers including Cedars-Sinai Medical Center. Walkable access to Pico Boulevard retail and dining, combined with proximity to the Wilshire / La Cienega Metro D Line extension, further supports durable tenant demand and long-term rent growth. With large units, meaningful rental upside, extensive completed capital work, and nearly two decades of stable ownership, 1010 S. Bedford Street offers investors a low-risk value-add opportunity in one of Los Angeles' most resilient and supply-constrained rental corridors.