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3731 Glendon Ave 6 Unit Apartment Building $1,499,000 ($249,833/Unit) 6.02% Cap Rate Los Angeles, CA 90034
EXECUTIVE SUMMARY
11.87 GRM and 6.02% cap in Prime Palms! 3731 Glendon Ave is an amazing opportunity to own six units offered at only $249k/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 10.77% CAP and 7.35 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.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$126,337
|
$53.02
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$126,337
|
$53.02
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$32,270
|
$13.54
|
| Net Operating Income |
$94,067
|
$39.47
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $126,337 |
| Annual Per SF | $53.02 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $126,337 |
| Annual Per SF | $53.02 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $32,270 |
| Annual Per SF | $13.54 |
| Net Operating Income | |
|---|---|
| Annual | $94,067 |
| Annual Per SF | $39.47 |
PROPERTY FACTS
| Price | $1,499,000 | Apartment Style | Low-Rise |
| Price Per Unit | $249,833 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 6.02% | Building Size | 2,583 SF |
| Gross Rent Multiplier | 11.87 | No. Stories | 2 |
| No. Units | 6 | Year Built | 1945 |
| Property Type | Multifamily | Parking Ratio | 2.32/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | LAR3 - restricted Density Multiple Dwelling | ||
| Price | $1,499,000 |
| Price Per Unit | $249,833 |
| Sale Type | Investment |
| Cap Rate | 6.02% |
| Gross Rent Multiplier | 11.87 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 2,583 SF |
| No. Stories | 2 |
| Year Built | 1945 |
| 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
Walk Score®
Very Walkable (87)
Bike Score®
Very Bikeable (75)
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3731 Glendon Ave
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