3662 Keystone Ave - Apartments FOR SALE


Los Angeles, CA 90034- Palms
$2,700,000 USD
310-467-7581
3662 Keystone Ave, Los Angeles, CA for Sale
$2,700,000 USD
Apartments - FOR SALE
1/8
null | 4.16% Cap Rate

3662 Keystone Ave
Los Angeles, CA 90034
Palms


HIGHLIGHTS

  • Located in a prime Palms location adjacent to Downtown Culver City, which has become a major tech hub with a number of new tech companies in the area
  • Value add opportunity with approximately 30% upside in rents in one of the premier rental pockets of Los Angeles
  • The unit mix consists of (6) 1 Bed, 1 Bath, (1) 2 Bed, 2 Bath, (1) 2 Bed, 1.5 Bath and (1) Single, 1 Bath unit spread out over 7,512 square feet
  • Walk score of 89 makes this a "Very Walkable" location with tenants being able to take advantage of numerous amenities in the area
  • Walking distance to the Expo Line stop, which allows residents access to major business hubs from Downtown to Santa Monica

OVERVIEW

The James Group is pleased to present a 9 unit offering in one of the best Palms locations at 3662 Keystone Ave, just a short walk to the new developments along Overland Blvd and short distance to downtown Culver City. The offering consists of (6) 1 Bed, 1 Bath, (1) 2 Bed, 2 Bath, (1) 2 Bed, 1.5 Bath, and (1) Studio, 1 Bath units that are spread out over 7,512 square feet, which offers spacious unit layouts. The property was built in 1961 and sits on a 7,500 square foot lot that is zoned LAR3. The investment offering provides an excellent value-add opportunity for future investors with rents approximately 30% below market, in one of the best rental pockets of LA’s Westside. The building offers 10 parking spaces and on-site laundry for tenants. With it’s excellent unit mix and future upside potential, an investor is poised to take advantage of a generational real estate asset in a prime location that has experienced tremendous growth and development. The Palms market has continued to prove to be one of the best rental pockets in all of Los Angeles. With continued rent growth and low vacancy rates, renters continue to seek out opportunities in the immediate area surrounding the subject property. With Culver City directly to the south, Venice directly west, and high end neighborhoods just to the north, Palms is strategically located and will continue to see massive growth. Area amenities include high end restaurants, bars and nightlife along with shopping and a robust office market making it a perennial economic hub in Southern California. With tech companies like Amazon, Youtube and TikTok, the location and rental upside make this an opportunity to own a generational asset in one of LA’s best neighborhoods.

FOR SALE DETAILS

PRICE

$2,700,000 USD

PRICE/SF

$249 USD /SF

# OF UNITS

9

PRICE/UNIT

$300,000

CAP RATE

4.16%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,492 SF

ZONING

LAR3

APN/PARCEL ID

4314-009-024

ASK ABOUT THIS PROPERTY

Peter JamesLyon Stahl Investment Real EstateMore Info
310-467-7581

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Peter JamesLyon Stahl Investment Real EstateMore Info
310-467-7581

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