For Sale
$3,050,000

3720 Midvale AveLos Angeles, CA 90034

Nine-unit multifamily, strong income

Overview

Added:
Dec 11, 2024
Days on market:
118
This 9-unit apartment building in Los Angeles, CA (90034), offers a compelling investment opportunity. Located in a desirable West Los Angeles neighborhood bordering Palms and Culver City, this property boasts a strong in-place income exceeding $20,000 monthly. The 7,229 square foot building, constructed in 1964, sits on a 7,991 square foot lot and features a mix of one and two-bedroom units, with four units offering townhome-style layouts and private yards. Recent capital improvements include a new roof (2021) and renovations to select units, featuring upgraded electrical systems, luxury flooring, stainless steel appliances, private patios, and in-unit washer/dryers. The property's current NOI is $167,457, with a pro-forma NOI of $221,978, representing a 22% rental upside potential. Its convenient location offers easy access to major employment centers, retail, and entertainment in nearby Culver City, Century City, and Santa Monica. The property is zoned LAR3 and has a Walk Score of 81. This well-maintained asset presents a rare opportunity for value-add potential in a highly sought-after West Los Angeles location. Asking price is $3,050,000.

Highlights

  • Nine-unit apartment building generating over $20,000 in monthly scheduled rent.
  • Select units feature recent renovations including upgraded electrical systems, luxury flooring, stainless steel appliances, private patios, and in-unit laundry; new roof (2021).
  • Desirable West Los Angeles location near Culver City, Century City, and Santa Monica; Walk Score of 81.
  • Significant value-add potential: 22% rental upside.
  • Four of nine units are townhome-style with private yards, commanding higher rents.
  • Well-maintained property with minimal deferred maintenance.

Property Details for 3720 Midvale Ave

Property type
Apartment buildings
Square Feet
7,229 SF
Year Built
1964
Buildings
1
Stories
2
Units
9

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
34.018104248866
Longitude
-118.41208485991
3720 Midvale Ave, Los Angeles, California

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3720 Midvale Ave
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