3720 Midvale Ave - Apartments FOR SALE


Los Angeles, CA 90034
$3,050,000 USD
213-943-1897
3720 Midvale Ave, Los Angeles, CA for Sale
$3,050,000 USD
Apartments - FOR SALE
1/13
null | 5.52% Cap Rate

3720 Midvale Ave
Los Angeles, CA 90034


HIGHLIGHTS

  • Midvale is Currently Achieving a Healthy Income Stream of More than $20,000 in Scheduled Rent Per Month
  • Select Units have been Renovated with Upgraded Electrical Systems, Luxury Flooring, Stainless Steel Appliances, Large Private Patios & Washer/Dryers
  • Located In a Highly Desirable Pocket of West LA. Residents Enjoy Convenient access to Employment Centers, Retail & Entertainment
  • There is 23 Percent Remaining Rental Upside Through Turnover and Tactful Renovations
  • 44% of Units are Townhome Style Units that Feature Private Yards
  • Current Ownership Has Attentively Maintained the Property Which Has Very Little Deferred Maintenance

OVERVIEW

Do Not Walk the Property or Disrupt Tenants. Contact Listing Team for Property Showing Instructions. The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale 3720 Midvale Avenue, a nine-unit apartment community in Palms, an affluent residential neighborhood bordering Culver City. The subject property is located West of Overland Avenue & South of Palms Boulevard, ideally located a few blocks away from the I-10 Freeway and half a 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, 3720 Midvale Avenue 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 7,991 square foot lot, the property is comprised of five one-bedroom units and four two-bedroom townhome units. Current ownership has extensively renovated the property including a new roof & select units have been upgraded with new water heaters, new electrical systems, luxury flooring, stainless steel appliances, large private patios, in-unit washer/dryers, & more. Townhome units feature private yards that attract more demand and garner higher rents. 3720 Midvale 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. * Please refer to the Unit Configuration Summary on page 15 of the Offering Memorandum for further details.

FOR SALE DETAILS

PRICE

$3,050,000 USD

PRICE/SF

$454 USD /SF

# OF UNITS

9

PRICE/UNIT

$338,889

CAP RATE

5.52%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

9-Units in Palms | 5.52% Cap Rate

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,991 SF

ZONING

R3

APN/PARCEL ID

4252-026-004

ASK ABOUT THIS PROPERTY

Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

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Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

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