3240 Fay Ave
Los Angeles, CA 90034
Multifamily Property For Sale
·
14 Units
Property Facts
| No. Units | 14 | Lot Size | 0.22 AC |
| Property Type | Multifamily | Building Size | 9,922 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1963 |
| Building Class | A | Parking Ratio | 1.41/1,000 SF |
| Zoning | LARD1.5 | ||
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | A |
| Lot Size | 0.22 AC |
| Building Size | 9,922 SF |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.41/1,000 SF |
| Zoning | LARD1.5 |
Amenities
Unit Amenities
- Dishwasher
- Washer/Dryer
- Kitchen
- Refrigerator
- Range
- Intercom
- Patio
- Window Coverings
Site Amenities
- Courtyard
- Laundry Facilities
- Gated
About 3240 FAY AVE , LOS ANGELES, CA 90034
3240 FAY AVENUE APARTMENTS is a well-kept building in the prime gentrified Arts District neighborhood immediately adjacent to Culver City. While still within the city of Los Angeles, the property is a short walk to the downtown shopping, retail and employment, as well as the Exposition Line for easy access to points east and west. The courtyard-style building has a great unit mix consisting of (2) two bedroom/ 1.5 bath, (4) two-bedroom / one bath, (4) one-bedroom / one bath and (4) studio apartments. It is located on a quiet, permit-only street between Venice Boulevard and Washington Boulevard. Culver City’s recent influx of entertainment and technology companies has caused a boom in new Class-A multifamily development and has consequently driven up rents over 20% in the past five years. As such, this building provides an opportunity to immediately renovate the four vacant units to high-end finishes, and do the same with the remaining units either by relocating tenants or as units turn.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 2 | $2,302 | 970 |
| 2+1 | 4 | $2,200 | 945 |
| 1+1 | 4 | $1,640 | 600 |
| Studios | 4 | $1,325 | 450 |
Property Taxes
| Parcel Number | 4312-021-042 | Improvements Assessment | $2,187,291 |
| Land Assessment | $2,663,026 | Total Assessment | $4,850,317 |
Property Taxes
