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Robert Cornell

rcornell.realty@gmail.com +1(760) 500-0022

$ 2,600,000

Est. payment | -/mo

10 Beds

14 Baths

5,480 SqFt

Save

$ 2,600,000

Est. payment | -/mo

Save

10 Beds

14 Baths

5,480 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 5,480 sqft

Price per Sqft $474

MLS Listing ID 26107017

Bedrooms 10

HOA Y/N No

Year Built 1957

Lot Size 5,754 Sqft

Property Description

Rare opportunity to acquire a 14-unit multifamily property in the highly desirable Palms neighborhood of West Los Angeles, offering an attractive 6.12% current cap rate, substantial rent upside, three currently vacant units, and completed major compliance improvements. Built in 1957, the approximately 5,480-square-foot building is situated on a 5,756-square-foot LAR4 lot and features an efficient unit mix of ten 1-bedroom/1-bath units and four studio units, along with five on-site parking spaces.At an asking price property is offered at an attractive basis of approximately $185,714 per unit and a 6.12% current cap rate. Ownership currently holding off market 3 vacant units to all buyer to create increase income. Located in Palms, one of the Westside's most established rental neighborhoods, positioned between Culver City, Mar Vista, Cheviot Hills, and West Los Angeles. Residents benefit from convenient access to Culver City, Century City, Westwood/UCLA, Santa Monica, Playa Vista, the Metro E Line, I-10 and I-405 freeways, as well as major media, entertainment and technology employment centers throughout the Westside.

Location

State CA

County Los Angeles

Area C13 - Palms - Mar Vista

Zoning LAR4

Interior

Heating Wall Furnace

Cooling None

Flooring Carpet, Laminate, Wood

Fireplaces Type None

Fireplace No

Appliance Disposal, Refrigerator

Laundry Common Area

Exterior

Parking Features Attached Carport, Assigned

Pool None

Total Parking Spaces 5

Private Pool No

Building

Story 3

Entry Level Three Or More

Sewer Other

Level or Stories Three Or More

New Construction No

Others

Senior Community No

Tax ID 4252031031

Security Features Carbon Monoxide Detector(s),Smoke Detector(s)

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Irma Vargas Tierra Properties #00467438

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(760) 500-0022

rcornell.realty@gmail.com

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3653 Overland AVE Los Angeles, CA 90034