For Sale
$4,495,000

3438 Potomac AveLos Angeles, CA 90016

Luxury 6-unit apartment building, West Adams.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional 6-unit apartment building presents a compelling investment opportunity in the highly sought-after West Adams neighborhood of Los Angeles, California. Completed in 2024, this Class A property boasts 9,144 square feet of net rentable space, spread across three buildings and three stories. The property features a desirable unit mix, including two 4-bedroom units and four 3-bedroom units, each generously sized and equipped with private patios, large windows, sleek cabinetry, and high ceilings. All units include stainless steel kitchen appliances and are separately metered for gas, electric, and water, minimizing operating expenses. The property sits on a 9,243 square foot lot and offers ample parking with two spaces per unit. Located at 3438 Potomac Ave, Los Angeles, CA 90016 (APN 5046-008-015), this property is currently vacant, presenting an immediate opportunity for income generation. The asking price is $4,495,000, representing a price per square foot of $491.58 and a price per unit of $749,166.67. The projected pro-forma net operating income (NOI) is $241,933, yielding a 5.38% cap rate. The property is zoned LAR3 and benefits from its location within an Opportunity Zone, offering significant tax advantages. The building's modern design and high-end finishes ensure strong tenant demand in a market with limited new construction due to recent legislation (SB-8). This property is ideally suited for a 1031 exchange and is ready for immediate closing.

Highlights

  • Opportunity Zone designation offering significant tax advantages.
  • Located in the highly sought-after West Adams neighborhood of Los Angeles.
  • Projected 5.38% cap rate.
  • 9,144 square feet of net rentable space with premium floor plans.
  • Architecturally impressive exterior with high-end finishes.
  • Six-unit building with a desirable mix of two 4-bedroom and four 3-bedroom units.

Property Details for 3438 Potomac Ave

Property type
Apartment buildings
Square Feet
9,144 SF
Class
A
Year Built
2024
Buildings
3
Stories
3
Units
6

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
34.0244184
Longitude
-118.3436822
3438 Potomac Ave, Los Angeles, California

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3438 Potomac Ave
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