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3766 S Canfield Ave
Los Angeles, CA 90034
Multifamily Property For Sale
·
11 Units
EXECUTIVE SUMMARY
A classic 1960's vintage multifamily investment opportunity, perfect for starting or expanding a real estate portfolio.
The property is well located in the highly desirable Palms submarket of WLA, adjacent to bustling neighborhoods of Culver City, Santa Monica, etc. With trendy eateries, bars, shops, and iconic beaches just minutes away, the property benefits from a positive trend in asking rents and legendary long-term capital appreciation. The property's proximity to renowned employers such as Sony, Apple, Google, YouTube, and Tesla makes it an attractive location for young, professional renters.
The property comprises 9 recorded units, with the unique advantage of being configurable into 11 units, providing flexibility and upside potential for inventors. It offers an efficient mix of studios and 1+1 units, with opportunities for additional upside from ADU conversions and renovations upon turnover. The average current rents for the units are significantly below market rates, presenting tremendous NOI upside.
With its prime location in Palms, distinctive features, overall condition, and upside potential, this asset presents an opportunity for qualified investors looking to meaningfully expand their real estate investment portfolio in WLA. Contact the listing broker today to schedule a confidential property tour and learn more about this investment opportunity.
The property is well located in the highly desirable Palms submarket of WLA, adjacent to bustling neighborhoods of Culver City, Santa Monica, etc. With trendy eateries, bars, shops, and iconic beaches just minutes away, the property benefits from a positive trend in asking rents and legendary long-term capital appreciation. The property's proximity to renowned employers such as Sony, Apple, Google, YouTube, and Tesla makes it an attractive location for young, professional renters.
The property comprises 9 recorded units, with the unique advantage of being configurable into 11 units, providing flexibility and upside potential for inventors. It offers an efficient mix of studios and 1+1 units, with opportunities for additional upside from ADU conversions and renovations upon turnover. The average current rents for the units are significantly below market rates, presenting tremendous NOI upside.
With its prime location in Palms, distinctive features, overall condition, and upside potential, this asset presents an opportunity for qualified investors looking to meaningfully expand their real estate investment portfolio in WLA. Contact the listing broker today to schedule a confidential property tour and learn more about this investment opportunity.
PROPERTY FACTS
| Price Per Unit | $272,727 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 4.79% | Building Size | 4,854 SF |
| Gross Rent Multiplier | 13.48 | Average Occupancy | 100% |
| No. Units | 11 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 2.27/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | LAR3 | ||
| Price Per Unit | $272,727 |
| Sale Type | Investment |
| Cap Rate | 4.79% |
| Gross Rent Multiplier | 13.48 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 4,854 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 2.27/1,000 SF |
| Zoning | LAR3 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Gated
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 5 | $1,399 | - |
| 1+1 | 6 | $1,925 | - |
PROPERTY TAXES
| Parcel Number | 4313-021-015 | Improvements Assessment | $642,986 |
| Land Assessment | $1,514,327 | Total Assessment | $2,157,313 |
PROPERTY TAXES
Parcel Number
4313-021-015
Land Assessment
$1,514,327
Improvements Assessment
$642,986
Total Assessment
$2,157,313
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