4309 W Adams Blvd - Apartments FOR SALE


Los Angeles, CA 90018
$4,175,000 USD
310-710-1018
4309 W Adams Blvd, Los Angeles, CA for Sale
$4,175,000 USD
Apartments - FOR SALE
1/19
null | 4.5% Cap Rate

4309 W Adams Blvd
Los Angeles, CA 90018


HIGHLIGHTS

  • Fully renovated property and tenants at market rents mean a long-term stable investment for any new owner
  • Demonstrated demand for the privacy of a smaller building, dedicated parking and dual-entrance units
  • Turnkey property offers strong cash flow with a healthy $2.65 rent per SF and $186,016 NOI in flourishing West Adams
  • Multiple value-add opportunities: add 4-6 ADU units for up to +/- 3,000 SF or build up to 7 floor of mixed use for approx. 31,800 SF
  • Qualified for Opportunity Zone tax deferral for any savvy investor with upcoming capital gains
  • By-right development potential of up to 7 total floors and approx. 31,800 SF mixed use building using TOD Tier 4 and Crenshaw Corridor Specific Plan

OVERVIEW

A turnkey 12-unit multifamily asset, 4309 W Adams Blvd is an ideal 1031 exchange upleg. Long-term stable investment offers robust market rents and a fully renovated property. The new owner will generate strong rents at a healthy $2.65/SF from day one as well as benefit from long-term appreciation in a rapidly elevating neighborhood. Add up to an additional +/-3,000 SF by building four ADUs in the rear of the generously sized lot. From James Beard-nominated Chef Keith Corbin of Alta Adams, the always buzzy Tartine and Mizlala restaurants, to CIM’s numerous residential, commercial, and office developments, the neighborhood’s energy is positive and electric. There is demonstrated demand for newly renovated dual-entrance units in smaller secure buildings with dedicated parking. Centrally located between Culver City and Downtown LA, the subject property offers financial and development incentives to the savvy investor, whether tax deferment within an Opportunity Zone or 7-floor by-right development potential as a TOD Tier 4 site in the Crenshaw Corridor Specific Plan.

FOR SALE DETAILS

PRICE

$4,175,000 USD

PRICE/SF

$472 USD /SF

# OF UNITS

12

PRICE/UNIT

$347,917

CAP RATE

4.5%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1954

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,890 SF

ZONING

LAC2-1-SP TOC Tier 4

APN/PARCEL ID

5059-005-005

ASK ABOUT THIS PROPERTY

Nicole LuMaher Commercial RealtyMore Info
310-710-1018

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Nicole LuMaher Commercial RealtyMore Info
310-710-1018

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