142 S Wetherly Drive, Los Angeles, CA 90048 (MLS # 25523371)
We re pleased to present the opportunity to acquire 142 South Wetherly Drive, a 36 unit value-add opportunity located near the corner of Doheny Drive and 3rd Street on the border of Beverly Hills.142 South Wetherly is an extremely rare offering as this is the first time the property has been offered for sale on the open market and is being sold by the family of the original developer. The building layout is as an exceptional opportunity for a boutique luxury value-add investor. 142 South Wetherly's footprint features condo style layouts with expansive floorplans, wide hallways, private balconies, and adequate parking which pairs perfectly for the area's affluent renter base. With all the units in classic condition or moderately upgraded, a potential buyer has a unique opportunity to acquire a property seeking modernized cosmetic enhancements. 142 South Wetherly is located on a ~17,990-square-foot lot and is comprised of one four story walk-up garden style building totaling ~35,577 square feet over on-grade secured garage parking with 39 spaces. The property offers a desirable unit mix that bodes well for the renting community in the immediate area, including one (1) Studio, (29) one-bedroom/one-bathroom units, five (5) two-bedroom/two-bathroom units, and (1) one two-bedroom/three-bathroom penthouse unit. As units turnover, a savvy investor stands to capture significant loss-to-lease of roughly 35% by capitalizing on high-end finishes sought after by the modern-day Beverly Hills, adjacent renter.Beyond the property's physical characteristics, 142 South Wetherly benefits from an exceptional location between Beverly Hills and West Hollywood, placing it in one of Southern California's most desirable rental markets. Surrounded by multimillion-dollar homes, the area is starved of high-end rental apartment product. With proximity to Rodeo Drive, the Sunset Strip, and Century City the property offers residents access to high-end retail, world-class dining, major employment centers, and vibrant entertainment, making it feel like the best of tow premier neighborhoods in one location.Given the specific location, physical attributes of the asset, untapped value-add potential, and rarity of the offering, 142 South Wetherly Drive offers investors the unique opportunity to establish a premier luxury community in one of Los Angeles' most coveted rental submarkets.
Property Type(s):
Residential Income
|
Last Updated
|
4/9/2025
|
Year Built
|
1969
|
|
Community
|
Beverly Center-Miracle Mile
|
County
|
Los Angeles
|
Additional Details
| AIR |
Wall/Window Unit(s) |
| AIR CONDITIONING |
Yes |
| APPLIANCES |
Dishwasher, Disposal, Microwave |
| AREA |
Beverly Center-Miracle Mile |
| GARAGE |
Assigned, Gated |
| HEAT |
Wall Furnace |
| LOT |
0.41 acre(s) |
| PARKING |
Assigned,Gated |
| STORIES |
4 |
| ZONING |
LAR4 |
Location
Listed with Remax Commercial and Investment Realty
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 4/19/25 7:37 AM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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