2911 S Palm Grove Ave - Apartments FOR SALE


Los Angeles, CA 90016- West Adams
$1,250,000 USD
310-729-1559
2911 S Palm Grove Ave, Los Angeles, CA for Sale
$1,250,000 USD
Apartments - FOR SALE
1/31
null | 5.91% Cap Rate

2911 S Palm Grove Ave
Los Angeles, CA 90016
West Adams


HIGHLIGHTS

  • Ideal unit mix consisting of (1) 2+1, (1) 3+1, and (1) 4+3 Units spread across 3,960 SF, with ADU potential (Buyer to Verify)
  • With 2 of 3 Units delivered Vacant, this property is ideal for an owner/user or an investor that will have the opportunity to rent the units at market
  • Conveniently located in West Adams, in close proximity to several trendy coffee shops, restaurants, and metropolitan hubs

OVERVIEW

2911 S Palm Grove Ave offers a rare opportunity to purchase a triplex in a strong pocket of West Adams, with 2 of 3 units delivered VACANT. The property features a great mix of units, consisting of (1) Vacant 3 bed/1 Bath measuring at 1,100 Square Feet, (1) Vacant 4 bed/3 Bath measuring at 1,950 Square Feet, and (1) occupied 2 Bed/1 Bath measuring at just under 1,000 Square Feet. An owner-user can take advantage of the vacant units by occupying one unit while generating rental income from the remaining units, making the property an attractive opportunity for both investors and owner-occupants. Once fully leased, the property is expected to operate at a 5.85% Cap Rate, collecting $8,884 in total scheduled rent, based on market rents. Additionally, the property may offer the potential to construct ADUs (Buyer to Verify), creating further long-term value-add opportunity. The property is conveniently located in West Adams, in close proximity to Culver City, USC, Downtown Los Angeles, and major transportation corridors including the I-10 Freeway and Metro Expo Line.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$417 USD /SF

# OF UNITS

3

PRICE/UNIT

$416,667

CAP RATE

5.91%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1930

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,052 SF

ZONING

LAR2

APN/PARCEL ID

5057-026-028

ASK ABOUT THIS PROPERTY

Aaron JacobsonLyon Stahl Investment Real EstateMore Info
310-729-1559

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Aaron JacobsonLyon Stahl Investment Real EstateMore Info
310-729-1559

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.