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3731 Glendon Ave 6 Unit Apartment Building $1,550,000 ($258,333/Unit) Los Angeles, CA 90034
Investment Highlights
- 6-unit building located in Palms offered at only $258k/unit
- Once rented out at market, the property will operate at 8.75% CAP and 8.67 GRM
- Located in an extremely walkable neighborhood, just blocks away from restaurants, shopping and entertainment
- Unit mix of (5) 1 Bed+1 Bath and (1) Studio+1 Bath units
- (2) 1 Bed+1 Bath units are remodeled including new floors, counters, bathrooms and fixtures
Executive Summary
10.74 GRM and 6.82% cap in Prime Palms! LOWEST PAYING TENANT WILL VACATE BY END OF YEAR! 3731 Glendon Ave is an amazing opportunity to own six units offered at only $258k/unit. Whether you are long term or a value-add investor, the subject property is the perfect assets to help achieve your investment goals. 3731 Glendon Ave features a unit mix of (5) 1-Bed/1-Bath and (1) Studio/1-Bath units. This property has undergone significant upgrades in recent years. Select units have been updated with new floors, counter tops, bathrooms, fixtures, etc. This asset offers strong rental upside with a pro-forma 9.52% CAP and 8.09 GRM.
This investment is in one of the most sought-after neighborhoods on the Westside. This location is every renter's dream being only steps from Downtown Culver City, an area boasting many great restaurants, shopping and entertainment. 3731 Glendon Ave is also located near new tech companies such as Google, Meta, Snapchat, Hulu, Sony, HBO and Apple.
This investment is in one of the most sought-after neighborhoods on the Westside. This location is every renter's dream being only steps from Downtown Culver City, an area boasting many great restaurants, shopping and entertainment. 3731 Glendon Ave is also located near new tech companies such as Google, Meta, Snapchat, Hulu, Sony, HBO and Apple.
Property Facts
| Price | $1,550,000 | Building Class | C |
| Price Per Unit | $258,333 | Lot Size | 0.11 AC |
| Sale Type | Investment | Building Size | 2,383 SF |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1926 |
| Property Subtype | Apartment | Parking Ratio | 2.32/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | LAR3 - restricted Density Multiple Dwelling | ||
| Price | $1,550,000 |
| Price Per Unit | $258,333 |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 2,383 SF |
| No. Stories | 2 |
| Year Built | 1926 |
| Parking Ratio | 2.32/1,000 SF |
| Zoning | LAR3 - restricted Density Multiple Dwelling |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 5 | - | - |
1 1
Moderately walkable
60/100
Very drivable
80/100
Strong public transit
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 4252-029-027 | Improvements Assessment | $395,352 |
| Land Assessment | $593,028 | Total Assessment | $988,380 |
Property Taxes
Parcel Number
4252-029-027
Land Assessment
$593,028
Improvements Assessment
$395,352
Total Assessment
$988,380
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3731 Glendon Ave
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