Property listed by Figure 8 Realty, Colt Maloney 213-537-0114
$1,875,000
Privately tucked behind mature hedges in the heart of Mid-City, this beautifully updated 4-unit income property presents a rare opportunity to invest in one of LA's most rapidly evolving neighborhoods, just minutes from Culver City. All four units have been thoughtfully renovated in recent years, blending a clean, contemporary aesthetic… Read More with the charm of the original architecture. The fully updated building features three spacious 2-bedroom/1-bath units and one oversized 3-bedroom/2-bath unit with sweeping views from multiple angles. Each unit is filled with natural light, and the interiors are well-maintained making this a true turn-key opportunity for investors or potential owner-users. With over 4,400 square feet of living space on a 7,200-square-foot lot, the property also offers excellent potential for expansion or the addition of ADUs (buyer to verify feasibility with the city). All units are currently leased at near-market rents to reliable tenants, currently producing a solid 5.1% cap rate. With an addition of an ADU the property fully optimized is projected at 6.7 % Cap rate. The gated property offers both privacy and convenience, with tall hedges, one off-street parking space per unit, and ample street parking. Ideally located close to the Expo Line, downtown Culver City, and neighborhood hotspots like Helms Bakery, Alta Adams, Vicky's All Day, Chulita, Cento, and Mizlala. An exceptional, income-generating asset in a high-demand central location. Read Less
Listing Snapshot
Days Online
21
Last Updated
Property Type
Other
Beds
9
Square Ft.
3,864
Lot Size
0.11 Acres
Year Built
1965
MLS Number
25569237
30 Days Snapshot Of 90016
$997k
-15%
(avg) sold price
10
-28%
homes sold
68
+38%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Dishwasher, Refrigerator, Dryer, Washer
Building
Built in 1965, Building area total: 3,864, Levels: Two, Living area: 3864, 2 stories, 1 building
Heating
Electric, Radiant
Income
Gross income: $125,340, Net operating income: $94,702
Laundry
CommonArea
Lot
0.1101 acres, 4,798 square feet, Size: 4,798
Parking
4 totals parking, Uncovered
Property
Zoning: LARD2
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Based on information from California Regional Multiple Listing Service, Inc. as of 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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