The Cohen Group is pleased to present its latest listing, 4028 Palmwood Drive, an eight unit apartment building, located in the Baldwin Village neighborhood of Los Angeles. Built in 1954, the property sits on a 8,112 square foot lot and has 7,371 in rentable square feet. The unit mix consists of one 2 bed/1 bath unit with a private balcony, and seven spacious 1 bed/1 bath units. The property features newer exterior paint and landscaping. The building is individually metered for gas and electricity. On-site parking is also available in the rear of the building for tenant' s convenience.
The local neighborhood is a historically strong rental market ideally positioned for continued and future gentrification due to its proximity to other desirable areas such as West Los Angeles, Culver City, and Mid-Wilshire. The Baldwin Village neighborhood is experiencing tremendous amount of redevelopment, as highlighted by three prominent examples: the Crenshaw/MLK subway station is slated to open in 2019 just two blocks east of the subject; the Kaiser Permanente Outpatient Medical Facility Baldwin Hills MOB is currently under construction on Santa Rosalia Drive immediately east of the subject street; the Baldwin Hills Crenshaw Plaza, located a few blocks from the subject is at this point slated to be redeveloped by 2020 with a retail village and variety of mixed-use buildings, all in an open, pedestrian-friendly paseo layout.
*One Section 8 tenant, Four alternative affordable housing program tenants.
