Property Detail

Description

1259 S Longwood Ave is a brand-new 2026 construction luxury 5-unit ideally located in prime Miracle Mile / Mid-Wilshire. Comprised of five spacious 3- and 4-bedroom residences totaling approximately 8,065 square feet, the property is already 60% leased at market rents, with three of five units occupied, providing immediate income while offering additional upside through the lease-up of the remaining residences. The property features three 4-bedroom and two 3-bedroom residences, with units ranging from approximately 1,186 to 1,966 square feet. Two oversized 4BD/4BA residences feature private rooftop decks, with projected rents reaching as high as $6,295 per month. At stabilization, the property is projected to generate approximately $316,500 in annual gross rental income and a strong 5.98% pro forma cap rate. Each residence features modern, high-end finishes including sleek kitchens and bathrooms, kitchen islands, balconies, central HVAC, and in-unit washers and dryers. The property also offers 10 on-site parking spaces—two per unit—and separately metered utilities, helping keep landlord-paid expenses low. Located on a quiet residential street in the heart of Miracle Mile, residents are minutes from The Grove, LACMA, the Academy Museum, Beverly Center, Cedars-Sinai, Beverly Hills, Hollywood, and some of LA’s best dining, shopping, and entertainment. Offered at $4,195,000, or approximately $839,000 per unit and $520 per square foot, 1259 S Longwood offers buyers a rare combination of brand-new construction, immediate in-place income, strong projected returns, and oversized luxury residences in one of Central LA’s most desirable rental locations.