2614 Garth Ave 8 Unit Apartment Building $2,000,000 ($250,000/Unit) 5.20% Cap Rate Los Angeles, CA 90034

2614 Garth Avenue is a two-story, 7,029 square foot 8-unit multifamily property located on a 7,482 square foot lot in the highly desirable Palms submarket on Los Angeles’s Westside. The property was built in 1965 and is comprised of an attractive unit mix of: Three 1 Bed + 1 Bath, Two 2 Bed + 1 Bath, and Three 2 Bed + 2 Bath. The units are large, ranging from 800 square feet to 1,010 square feet. Amenities include on-site laundry facilities, private balconies, and assigned parking. Positioned in the Palms submarket of Los Angeles, the area is characterized by its high density and predominant rental market, making it a hub for young professionals, students, and families seeking proximity to the Westside's employment centers and cultural attractions. The property benefits from excellent connectivity, situated near major thoroughfares such as Venice Boulevard and National Boulevard. The Palms Metro E Line station, located at the intersection of National and Palms Boulevards, is within walking distance, offering convenient access to Downtown Los Angeles and Santa Monica. Additionally, the neighborhood is well-served by bicycle lanes along Venice and Motor Avenues, promoting an active lifestyle and reducing reliance on cars. Palms is home to a variety of local businesses, including international restaurants, cafes, and shops. Tenants enjoy being close to Kaiser Permanente, Downtown Culver City Ivy Station, HBO/Warner Media Headquarters, and eight public schools and 4 private schools including Palms Elementary School and Alexander Hamilton High School. Making Palms one of the most densely populated areas in Los Angeles. As of 2020, approximately 92% of the Palms population are renters.
2614 Garth presents a compelling opportunity for long-term investors, combining immediate cash |ow with future value-add potential. With a current vacancy of 3 units at the property, and investor has the chance to capitalize on this vacancy by renovating the unit and reaching market rent. This property presents the astute investor with a fantastic opportunity to purchase a well maintained, immediate rent growth asset in a highly desirable location.