3344 Keystone Ave - Apartments FOR SALE


Los Angeles, CA 90034- Palms
$3,000,000 USD
213-943-1897
3344 Keystone Ave, Los Angeles, CA for Sale
$3,000,000 USD
Apartments - FOR SALE
1/16
null | 5.51% Cap Rate

3344 Keystone Ave
Los Angeles, CA 90034
Palms


HIGHLIGHTS

  • Long Term Ownership – Family Owned & Available for Purchase for the First Time Ever
  • There is Approximately 16 Percent Remaining Rental Upside Through Turnover and Tactful Renovation (Current Unit Configuration)
  • Six One-Bedroom Units Have Plans to be Converted into Two-Bedroom Units, Offering Rent Upside — Buyer to Verify
  • Ownership has Procured Plans to add an ADU, Allowing for Future Growth and Appreciation — Buyer to Verify
  • The Property is in a Desirable West LA Pocket With Easy Access to Jobs, Retail & Entertainment in Culver City, Century City & Santa Monica
  • Keystone is Currently Achieving a Healthy Income Stream of More than $20,000 in Scheduled Rent Per Month

OVERVIEW

PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS. Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale 3344 Keystone Avenue, a nine-unit apartment community in Palms, an affluent residential neighborhood bordering Culver City. The subject property is located East of Overland Avenue & North of Palms Boulevard, ideally located three blocks away from the I-10 Freeway and one block North of Venice Boulevard allowing tenants convenient access throughout Los Angeles. Nestled between Beverly Hills, Century City, Marina Del Rey, Santa Monica and Venice, 3344 Keystone provides residents with easy access to major thoroughfares and the charm of Palms’ vibrant neighborhood. The area captures the essence of urban living providing tenants access to West LA, Downtown Culver City and strong employment opportunities as many of the largest tech companies including Google, Apple, Tesla and Amazon have leased space nearby. Situated on a 7,496 square foot lot, the property is comprised of one studio, six one-bedroom units, and two two-bedroom units. Select units have been upgraded with new flooring, quartz countertops, stainless steel appliances, AC and more. All six of the one-bedroom units have plans to be converted to two-bedroom units as well as the ability to add an Additional Dwelling Unit (ADU), providing new ownership a major repositioning opportunity. The property is professionally managed and offers large floor plans, balconies, on-site parking & laundry. 3344 Keystone Avenue provides investors with a rare opportunity to acquire a well-maintained asset with remaining value-add components in a desirable pocket of West Los Angeles. * The Properties Original Certificate of Occupancy Indicates that there are 9 Apartments; while the LA County Assessor’s Record Indicates there are 8 Units. City of Los Angeles goes by Certificate of Occupancy to Determine Legal Units. Buyer must conduct their own Due Diligence Regarding this Matter. ** LA Assessor Indicates 7,638 Square Feet - Buyer to Verify

FOR SALE DETAILS

PRICE

$3,000,000 USD

PRICE/SF

$393 USD /SF

# OF UNITS

9

PRICE/UNIT

$333,333

CAP RATE

5.51%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

A 9 Unit Value-Add Apartment in Palms

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1957

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,760 SF

ZONING

LAR3

APN/PARCEL ID

4314-021-016

ASK ABOUT THIS PROPERTY

Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.