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Just Listed – 5-Unit Apartment Investment Opportunity | $1,695,000

Just Listed – 5-Unit Apartment Investment Opportunity | $1,695,000

Lyon | Stahl is excited to present this incredible 5 unit apartment building in Palms, Los Angeles, right on the border of Mar Vista. This building is located at 3535 S Sepulveda Blvd, Los Angeles. Featuring a desirable unit mix of (3) 2-Bedroom/1 Bathroom and (2) 1-Bedroom/1-Bathroom Units with a Total Living Area of 4,378 sqft. Built in 1953, this building is situated on a large 6,431 Lot. Lot. Located on the Corner of Sepulveda Blvd and Westminster Ave, just 2 miles West of the massive new Culver Steps Mixed-Use Development (75,000 square feet of offices – which have been fully leased by Amazon Studios – atop 35,000 square feet of retail space). This is an incredible opportunity for an investor to own a value-add property, zoned R3 with a Tier 1 T.O.C. designation, in a rapidly developing area of West Los Angeles with limited inventory.

Listed at $1,695,000, this building was built in 1953, has a GRM of 21.11, and a cap rate of 2.85%.

Investment Highlights:

● Desirable Unit Mix: (3) 2-Bed/1-Bath & (2) 1-Bed/1-Bath Units
● 4,378 SF Building built in 1953 situated on a 6.431 CORNER LOT
● Zoning: R3 – Tier 1 TOC
● Prime Location on the border of Palms & Mar Vista
● Just minutes away from the new Culver Steps and MDR’s $100mm G8
Mixed-Use Developments!

 

City Overview: 

Palms (originally “The Palms”) is an up and coming area of West Los Angeles, undergoing rapid redevelopment. Palms is adjacent to Westwood, Beverly Hills, Santa Monica, Mar Vista, and Culver City. That along with its close proximity to the I-10 and I-405 Freeways & the new Palms Metro Station make Palms the central hub of the Western region of Los Angeles.

Palms is a highly diverse, densely populated community in the Westside region of Los Angeles, California, founded in 1886 and the oldest neighborhood annexed to the city, in 1915. The 1886 tract was marketed as an agricultural and vacation community. Today it is a primarily residential area, with a large number of apartment buildings, ribbons of commercial zoning and a single-family residential area as well.

 

 

 

 

 

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