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- LoopNet Team
3514 Mentone Ave
Los Angeles, CA 90034
A Nine-Unit Apartment Community in Palms · Multifamily Property For Sale
·
9 Units
PROPERTY FACTS
| No. Units | 9 | Lot Size | 0.17 AC |
| Property Type | Multifamily | Building Size | 7,384 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1959 |
| Building Class | C | Parking Ratio | 1.22/1,000 SF |
| Zoning | R3-1, Los Angeles | ||
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 7,384 SF |
| No. Stories | 2 |
| Year Built | 1959 |
| Parking Ratio | 1.22/1,000 SF |
| Zoning | R3-1, Los Angeles |
AMENITIES
SITE AMENITIES
- Laundry Facilities
ABOUT 3514 MENTONE AVE , LOS ANGELES, CA 90034
Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a nine-unit apartment community located at 3514 Mentone Avenue. Positioned just south of Palms Boulevard and east of Overland Avenue, the property is located in a prime location within the Palms submarket of Los Angeles. The offering represents a unique buying opportunity to increase rents by approximately 29 percent through implementing a thorough interior and exterior renovation program to the remaining units. The property consists of one building totaling 7,384 square feet on a 7,500 square foot parcel. The unit mix is comprised of one one-studio unit, six one-bedroom/one-bathroom units, one two-bedroom/one-bathroom unit and one two-bedroom/two-bathroom unit. Mentone Avenue features on-site parking, on-site laundry and secured access. Due to its 1959 construction, the property is subject to Los Angeles rent control statutes. Considered one of the more desirable submarkets on the Westside of Los Angeles, the Palms area has experienced a tremendous development boom over the past decade. The property is located near numerous trendy restaurants and bars in Downtown Culver City, retail shopping and entertainment options. The property is also close to the 10 and 405 Freeways, Santa Monica/Culver City Bus Lines, and the Culver City Metro Station.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | - | 400 |
| 1+1 | 6 | - | 800 |
| 2+1 | 1 | - | 950 |
| 2+2 | 1 | - | 1,000 |
PROPERTY TAXES
| Parcel Number | 4314-013-022 | Improvements Assessment | $893,194 |
| Land Assessment | $2,275,657 | Total Assessment | $3,168,851 |
PROPERTY TAXES
