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3625 Mentone Ave 9 Unit Apartment Building $2,395,000 ($266,111/Unit) 5.59% Cap Rate Los Angeles, CA 90034
Executive Summary
Price Reduction! Roque & Mark Co. is pleased to represent this well maintained 9-unit apartment building in the most desirable living area of Palms - north of Venice Blvd. and steps to restaurants, shopping, and downtown Culver City. Excellent unit mix consisting of (1) 3 beds + 2 baths, (3) 2 beds + 2 baths, (4) 1 bed + 1 bath, and (1) bachelor unit. The property is fully occupied and currently offered at a 11.3 GRM and 5.6% CAP rate with actual rents. Every unit has its own balcony or patio. Plenty of parking with 8 individual spaces and 10 total if used as tandem. There is an alley. All soft-story retrofitting and balcony inspections have been completed. Large building footprint with 8,102 sf of living area on an 8,259 sf lot. For investors, this is an opportunity to acquire a solid, well-located multifamily asset with lasting appeal and upside potential in an area known for high enduring desirability. This is a quiet street despite its close proximity to shops, cafes, and restaurants. Subject to City of Los Angeles Rent Stabilization.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$210,384
|
$19.86
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$4,208
|
$0.40
|
| Effective Gross Income |
$206,176
|
$19.46
|
| Taxes |
$26,345
|
$2.49
|
| Operating Expenses |
$46,017
|
$4.34
|
| Total Expenses |
$72,362
|
$6.83
|
| Net Operating Income |
$133,814
|
$12.63
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $210,384 |
| Annual Per SF | $19.86 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $4,208 |
| Annual Per SF | $0.40 |
| Effective Gross Income | |
|---|---|
| Annual | $206,176 |
| Annual Per SF | $19.46 |
| Taxes | |
|---|---|
| Annual | $26,345 |
| Annual Per SF | $2.49 |
| Operating Expenses | |
|---|---|
| Annual | $46,017 |
| Annual Per SF | $4.34 |
| Total Expenses | |
|---|---|
| Annual | $72,362 |
| Annual Per SF | $6.83 |
| Net Operating Income | |
|---|---|
| Annual | $133,814 |
| Annual Per SF | $12.63 |
Property Facts Under Contract
| Price | $2,395,000 | Apartment Style | Low-Rise |
| Price Per Unit | $266,111 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 5.59% | Building Size | 8,102 SF |
| Gross Rent Multiplier | 11.3 | Average Occupancy | 100% |
| No. Units | 9 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 2.22/1,000 SF |
| Zoning | LAR3 | ||
| Price | $2,395,000 |
| Price Per Unit | $266,111 |
| Sale Type | Investment |
| Cap Rate | 5.59% |
| Gross Rent Multiplier | 11.3 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 8,102 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 2.22/1,000 SF |
| Zoning | LAR3 |
Amenities
Unit Amenities
- Kitchen
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Walking/Biking Trails
- Storage Space
- Public Transportation
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 3 | $2,405 | 1,100 - 1,400 |
| Studios | 1 | $1,250 | 400 |
| 3+2 | 1 | $2,046 | 1,700 |
| 1+1 | 4 | $1,773 | 600 |
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Moderately walkable
70/100
Very drivable
80/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 4314-009-006 | Total Assessment | $975,787 |
| Land Assessment | $258,872 | Annual Taxes | $26,345 ($3.25/SF) |
| Improvements Assessment | $716,915 | Tax Year | 2025 |
Property Taxes
Parcel Number
4314-009-006
Land Assessment
$258,872
Improvements Assessment
$716,915
Total Assessment
$975,787
Annual Taxes
$26,345 ($3.25/SF)
Tax Year
2025
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Contact the Sale Advisor
3625 Mentone Ave