Property listed by Keller Williams Hollywood Hills, Daniel Lalezari 310-623-1300
$3,099,999
Welcome to 1638 S Longwood Ave, a 100% FULLY LEASED Non Rent Controlled, High End and Massive Brand New 2025 Construction Fourplex with an unheard of cap rate of 6.05%, yearly gross income of $226,680 and a monthly gross income of $18,890! The property is located in the ultra trendy… Read More Mid-City area, just minutes from Culver City, West Adams and highly desirable area due to its centrality and walkability to coffee shops, grocery stores like Target, Sprouts, gyms, shops, entertainment district and many trendy restaurants. The building features an attractive unit mix of Three-4 bedrooms 4.5 baths and 1-3 bedroom 3.5 baths, ranging from 1,593 square feet to 1830 square feet on the biggest unit. The property features 6,845 sq ft of total livable square ft on a 6,592 square feet lot that doesn't include an additional 865 square feet carport area for 8 cars that can potentially be converted to future ADUS plus priced at $452 price per foot, lower than today's replacement cost. Each unit feature's efficient open floor plans with huge bedrooms, walk in closets, massive balconies and all units have a ton of natural light. All the units features beautiful vinyl flooring with glossy modern white cabinets, quartz white countertops, large islands that have beautiful waterfalls. Moreover, each unit has stainless steel appliances, washer and dryer in unit, designer carrara shower tiles and each unit is separately metered for utilities to lower expenses for a buyer and easy to manage plus the property comes with 1 year builders warranty. This property is perfect for investors, a dream opportunity for 1031 Buyers and anyone that wants to invest in a safe asset at an amazing price and in the heart of Los Angeles. In addition, the luxury building is located just minutes from the Arts District, Helms Bakery, Cumulus which has the famous Whole Foods, Culver City Steps and Ivy Station, which is home to Apple, Amazon Studios, Sony Pictures, HBO, Beats Electronics and many more tech and entertainment companies pouring into the neighborhood and very safe with the police station right across the street! The strong and ultra hot rent desirability and comps are being achieved in this neighborhood, largely due to the by the surrounding tech hubs, providing high-paying salary jobs. Mid-City overall is a very hot market, its centralized location makes it convenient to get all neighborhoods such as Miracle Mile, The Grove, West Hollywood, Beverly Hills, Century City, Culver City, Westside/Beach cities or Downtown within minutes and much more. There is a recent sale comp of a similar 4plex property, that sold for $3.7 and $3.4 million making this deal very attractive. The neighborhood has lots of brand new construction close by, giving a modern and nice vibrant feel to the area. This property has a ton of benefits, some of which are including long-term appreciation along with Depreciation and Cost Seg benefits( buyer to consult with their CPA) DON'T MISS OUT on an amazing deal! Read Less
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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