3115 Ivy St - Apartments FOR SALE


Los Angeles, CA 90034- Palms
$2,550,000 USD
818-943-2319
3115 Ivy St, Los Angeles, CA for Sale
$2,550,000 USD
Apartments - FOR SALE
1/16
null | 5.06% Cap Rate

3115 Ivy St
Los Angeles, CA 90034
Palms


HIGHLIGHTS

  • Excellent Culver City location surrounded by single-family homes
  • Two unoccupied two-car garages provide an opportunity for ADU expansion, secure storage rental, or additional parking income
  • 5/8 of the Units Have Been Completely Remodeled
  • Recent upgrades include a new roof, copper plumbing improvements completed between 2021-2022, fresh exterior paint, and seismic retrofit completed
  • Convenient access to Venice Boulevard, the I-10 Freeway, and the Metro Expo Line
  • Close proximity to major employment hubs including Palms, Century City, Culver City, and the broader Silicon Beach tech and creative corridor

OVERVIEW

The Sterman Multi-Family Group of Marcus & Millichap is pleased to present 3115 Ivy Street, an 8-unit apartment community located in the highly desirable Culver City/ Palms neighborhood of West Los Angeles. Built in 1964, the property offers approximately 6,038 square feet of rentable living area on a 6,157-square-foot lot, providing investors with a well-located and stable asset in one of the Westside’s most consistently strong rental markets. The building features a practical and appealing unit mix, with bright interiors, efficient layouts, and the long-term durability associated with classic mid-century construction. These characteristics support steady tenant demand and create a reliable operating environment for ownership, while still offering clear opportunities for future modernization and value enhancement. 3115 Ivy Street benefits from an exceptional location just steps away from Culver City, placing residents near major employment centers such as Culver City’s expanding tech and creative office district, Sony Studios, and the broader Westside job base. The property is surrounded by a wide selection of dining, retail, and neighborhood conveniences along Venice Boulevard and Sepulveda Boulevard. Connectivity is another key advantage, with close access to the I-10 and I-405 Freeways as well as the Metro E Line, allowing for convenient travel throughout Greater Los Angeles. Situated within a supply-constrained, transit-oriented, and high-demand rental pocket, 3115 Ivy Street represents a compelling opportunity to acquire a well-maintained multifamily asset with stable in-place income and meaningful potential for long-term appreciation.

FOR SALE DETAILS

PRICE

$2,550,000 USD

PRICE/SF

$422 USD /SF

# OF UNITS

8

PRICE/UNIT

$318,750

CAP RATE

5.06%

% LEASED

75%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,058 SF

ZONING

LARD1.5

APN/PARCEL ID

4312-009-037

ASK ABOUT THIS PROPERTY

Michael StermanMarcus & MillichapMore Info
818-943-2319

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Michael StermanMarcus & MillichapMore Info
818-943-2319

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