1259 S Longwood Ave, Miracle Mile/Mid-Wilshire
Luxury 5-Unit Located near Miracle Mile
Already 60% Leased!
Brand-new luxury 5-unit steps from Miracle Mile, now 60% leased at market rents with 3 of 5 units occupied, providing immediate income with additional upside through lease-up. 1259 S Longwood Ave is a 2026 construction 5-unit offering a strong 5.98% pro forma cap and approximately $316,500 in projected annual gross income at stabilization. The oversized 3- and 4-bedroom residences feature designer kitchens and bathrooms, balconies, central HVAC, in-unit laundry, and two massive 4-bedroom units with private rooftop decks. All utilities are separately metered, and the property includes 10 on-site parking spaces—two per unit.
The Important
Details
List Price:
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# Units:
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$4,195,000
5-Unit
For Sale
5
2026
5.98%
13.25
$316,500/Year (Pro-Forma)
8,065 sqft
7,690 sqft
$520.15
$839,000
2x 4b/4b +rooftop, 1x 4b/3b, 2x 3b/3b
No
10 Parking Spaces
Yes
Other Features:
Rooftop Decks, Kitchen Islands, Balconies, Designer Finishes
The Highlights
Brand-New 2026 Construction Luxury 5-Unit ideally located in prime Miracle Mile / Mid-Wilshire
60% Leased at Market Rents with 3 of 5 units already leased, providing immediate in-place income with additional upside through continued lease-up
Strong 5.98% Pro Forma Cap Rate with approximately $315,500 in projected annual gross rental income at stabilization
Oversized 3- & 4-Bedroom Residences ranging from approximately 1,186–1,966 SF, designed to attract high-income renters seeking larger luxury housing
Two Massive 4BD/4BA Residences with Private Rooftop Decks, projected at $6,295 and one rented at $6,095
All Utilities Separately Metered, helping keep landlord-paid operating expenses exceptionally low
10 On-Site Parking Spaces — 2 Spaces Per Unit, an outstanding amenity for a centrally located Los Angeles multifamily property
High-End New Construction Finishes featuring sleek kitchens and bathrooms, kitchen islands, private balconies, central HVAC, in-unit washers & dryers, and expansive rooftop decks
Prime Miracle Mile Location minutes from The Grove, LACMA, Academy Museum, Beverly Center, Cedars-Sinai, Beverly Hills, and Hollywood
The Neighborhood
<15-Minute Walk
Met Him At A Bar, Trejo's Tacos, All Season Brewing Company, PIPS on La Brea, La Brea Bakery / La Brea corridor, La Brea Avenue shopping/design district, Met Her At A Bar, The Mint, Leo’s Tacos Truck
<15-Minute Drive
The Grove, LACMA, République, Oste, Jon & Vinny’s Fairfax, The Original Farmers Market / Fairfax District, Melrose Avenue, Beverly Center, Museum Row, La Brea Tar Pits, Jurassic Magic Coffee, Joan’s on Third
<$15 Uber Ride
Great White, Clark Street Larchmont, Go Get Em Tiger – Larchmont, A.O.C., Marvin, El Coyote, Ggiata Delicatessen, Openaire, Régalade, Osteria Mamma, Max & Helen’s, Here’s Looking At You, Kali
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