3873 College AveCulver City, CA 90232

Property Details for 3873 College Ave

Year built

1973

Construction

WOOD

Lot size

0.21 AC

Property size (Sq ft)

8,912 SF

Zone code

CCR4*

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

4208-022-029

APU

4208022029

Description

This exceptional 8-unit apartment building presents a compelling investment opportunity in the highly desirable Culver City market. Boasting 8,912 square feet of gross rentable area on a 9,029-square-foot lot, this two-story, 1973-built property offers a strong current NOI of $156,362, representing a 5.58% cap rate. A pro-forma NOI of $206,787 projects a 7.39% cap rate, indicating significant upside potential. The property features seven two-bedroom/two-bathroom units and one two-bedroom/two-and-a-half-bathroom unit, all well-suited to today's rental market. Residents enjoy gated parking, adding to the property's appeal. The building is situated in a walkable neighborhood with convenient access to shops, services, and public transportation. Its location in Culver City, a hub for tech and media companies, ensures strong rental demand. The asking price is $2,800,000, translating to $350,000 per unit and $314.18 per square foot. The property is currently 88% occupied and zoned LAR3. This well-maintained asset offers a unique opportunity for investors seeking strong returns in a prime location. Individual units are separately metered for gas and electric.

• CAP approach

  CAP return

  Valuation

  6%

  $2,553,082

  6.5%

  $2,356,691

  7%

  $2,188,356

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,626,794

  Geo Method

  $2,626,794

• Alternative Use

  Use

  Valuation

  Residential

  $2,356,691

  Hospitality

  $2,158,716

  Educational

  $1,796,027

  Medical

  $1,857,795

  Retail

  $2,793,819

Location Insight

City

Culver City

County

Los Angeles

State

California

Latitude

34.0141

Longitude

-118.411

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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