3602 Keystone Ave 10 Unit Apartment Building $2,850,000 ($285,000/Unit) 5.37% Cap Rate Los Angeles, CA 90034

The James Group is pleased to present 3602 Keystone Ave, ideally located in the heart of Palms, one of the best rental pockets on LA’s Westside and directly adjacent to Culver City. The subject property is a 10 unit apartment building built in 1967. The building boasts an excellent unit mix including (2) 2 Bed / 1.5 Bath, (7) 1 Bed / 1 Bath, and (1) Studio / 1 Bath units spread out over 7,032 net rentable square feet, and sits on a 7,504 square foot LAR3 zoned lot. 3602 Keystone is a rare pride-of-ownership offering that has been meticulously maintained over the years, with most units renovated, and features copper plumbing and 12 on-site parking spaces, six of which are private enclosed garages. The property produces excellent in-place cash flow with approximately 14% upside remaining in the rents, giving a future investor a turnkey asset along with long-term rent growth potential.
Palms has established itself as one of the strongest rental pockets in all of Los Angeles, anchored by its proximity to Culver City’s booming tech and media economy. Culver City has become a true “content capital,” drawing marquee employers including Apple, Amazon, HBO, Sony Pictures, TikTok, and Pinterest, all within minutes of the subject property. The Overland Blvd corridor immediately surrounding the property is in the midst of a major transformation, with nearly 400 new mixed-use apartment units in the pipeline bringing new retail, density, and vibrancy to the neighborhood, while Downtown Culver City’s thriving live-work-dine district, anchored by Ivy Station and The Culver Steps, sits just to the west. The property is easily accessible to all of the Westside’s major business hubs, with immediate proximity to the 10 Freeway and the Metro E (Expo) Line connecting tenants to Culver City, Santa Monica, and Downtown LA. The combination of an irreplaceable location, a pristine building, excellent cash flow, and remaining rental upside makes this a compelling opportunity to own a generational asset in one of LA’s best neighborhoods.