3729 Vinton Ave, Los Angeles, CA 90034

3729 Vinton Ave, Los Angeles, CA 90034

Los Angeles, CA

Property Description

Beautiful 1987 Construction 11-Unit asset located in the heart of Palms at 3729 Vinton Ave. , Los Angeles. With Prop 21 failing to pass, new buyers can take advantage of this Value-Add, NON-RENT CONTROLLED asset offering a great return on pro-forma numbers. This “A” location property with great curb appeal has over 41% upside available in monthly income alone. The Vinton apartments have a great mix of (1) 2-Bd/2-Ba Townhouse, (4) 2-Bd/2-Ba, & (6) 1-Bd/1-Ba units. Two of the 1-Bed units and One of the 2-Bed units will be delivered tenant ready, offering immediate upside! Most of the units have been renovated and are in pristine condition. These overly spacious units feature new hardwood flooring, granite countertops, new paint, new interior fixtures, as well as Dishwashers and A/C. Additionally, each unit comes with their own private balcony. There is copper plumbing throughout the building. Built in the 80’s, there is plenty of parking for each tenant to go along with the additional street parking. Currently operating just below a 4% Cap, there is plenty of room to increase the rents and achieve a 5% Cap. Only minutes away from Millions of $ in development, this renovated property is an ideal pickup for any exchange buyer or investor looking to own in one of Los Angeles’s top rental markets.

Property Features

  • Sale Price: $4,202,500
  • Area Size: 9,578 SF
  • Land Area: 8,216 SF
  • Year Built: 1987
  • Listing Date: 1/6/2021
  • Closing Date: 11/16/2020
  • Units: 11