Price Adjustment! Prime Palms Location 3662 Keystone Ave 9 Unit Apartment Building $2,500,000 ($277,778/Unit) 4.81% Cap Rate Los Angeles, CA 90034

The James Group is pleased to present a 9 unit offering in one of the best Palms locations at 3662 Keystone Ave, just a short walk to the new developments along Overland Blvd and short distance to downtown Culver City. The offering consists of (6) 1 Bed, 1 Bath, (1) 2 Bed, 2 Bath, (1) 2 Bed, 1.5 Bath, and (1) Studio, 1 Bath units that are spread out over 7,512 square feet, which offers spacious unit layouts. The property was built in 1961 and sits on a 7,500 square foot lot that is zoned LAR3. The investment offering provides an excellent value-add opportunity for future investors with rents approximately 30% below market, in one of the best rental pockets of LA’s Westside. The building offers 10 parking spaces and on-site laundry for tenants. There is a brand new roof and the property features copper plumbing offering ease of maintenance for a future investor. With it’s excellent unit mix and future upside potential, an investor is poised to take advantage of a generational real estate asset in a prime location that has experienced tremendous growth and development.
The Palms market has continued to prove to be one of the best rental pockets in all of Los Angeles. With continued rent growth and low vacancy rates, renters continue to seek out opportunities in the immediate area surrounding the subject property. With Culver City directly to the south, Venice directly west, and high end neighborhoods just to the north, Palms is strategically located and will continue to see massive growth. Area amenities include high end restaurants, bars and nightlife along with shopping and a robust office market making it a perennial economic hub in Southern California. With tech companies like Amazon, Youtube and TikTok, the location and rental upside make this an opportunity to own a generational asset in one of LA’s best neighborhoods.