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Multifamily Property For Sale

Just Reduced Westside Condo-conversion Opportunity

3650 Midvale Avenue, Los Angeles, CA 90034

Price:
$4,750,000
No. Units:
20
Building Size:
21,952 SF
Price/Unit:
$237,500
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Cap Rate:
5%
Gross Rent Multiplier:
12
No. Stories:
4
Year Built:
1984
Lot Size:
15,981 SF
Find Out More...

Last Verified 11/12/2009 Listing ID 16428691

Highlights

Previously approved as condos
44 GATED AND SECURED PARKING SPACES INCLUDING 4 GUEST PARK
COPPER PLUMBING THROUGHOUT THE BUILDING

HIGH CEILING IN ALL UNITS
ALL UNITS HAVE BALCONIES
NON-RENT CONTROL BUILDING

Description

Pacific Skyline Group, Inc. is pleased to offer this great investment opportunity in the highly sought after area of Westside (Palms) for sale. The subject offering consists of twenty large and beautiful townhouse style units built in 1984. The subject property consists of Ten Large 2 Bed/ 2.5 Bath units ranging is size from 1213 to 1412 Square Feet, Nine large 1 Bed/1.5 Bath Plus loft units ranging is size from 754 to 956 Square Feet and One 1Bd/1Ba Plus Loft, which is 892 SF. All units are two story units with high ceilings in the living room. The two Bedroom units have sunken-in living rooms and bedrooms, an oversized patio, a balcony, and all the one Bedrooms units have a private sundeck and a huge Loft, which could be used, as a second Bedroom. The units are currently rented slightly below market, which allows the Buyer an opportunity to increase the net income through hands-on management and may give the Buyer the opportunity to reinstate the white slips and CC&R' S in the future and sell the units as condos. Please be advised that Broker and Seller make no representations.

On Midvale Avenue, in Palms area.

Financial Summary

Actual
Net Operating Income
$237,500

Map of 3650 Midvale Avenue, Los Angeles, CA 90034 (Los Angeles County)

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Presented by

Pacific Skyline Group, INC.

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Contact Listing Broker

Sean Mousavi (213) 509-9036

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Created 10/12/2009

Additional Information for 3650 Midvale Avenue, Los Angeles, CA 90034

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 3 Historic Listings
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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Multifamily Property For Sale - Just Reduced Westside Condo-conversion Opportunity

3650 Midvale Avenue, Los Angeles, CA, 90034