3121 S Canfield Ave - Apartments FOR SALE


Los Angeles, CA 90034- Cheviot Hills
$2,350,000 USD
818-212-2784
3121 S Canfield Ave, Los Angeles, CA for Sale
$2,350,000 USD
Apartments - FOR SALE
1/16
null | 4.01% Cap Rate

3121 S Canfield Ave
Los Angeles, CA 90034
Cheviot Hills


HIGHLIGHTS

  • FIRST TIME FOR SALE IN OVER 50 YEARS!
  • 9-Unit Apartment Community | 1963 Construction
  • Attractive Unit Mix: (4) One-Bedroom / One-Bath Units and (5) Two-Bedroom / Two-Bath
  • Seismic Retrofit Completed
  • Significant Upside in Rents- Current Rents 65% Below Market
  • Excellent Access to I-10 and I-405 Freeways, major employment hubs, and transit corridors

OVERVIEW

The Sterman Multi-Family Group of Marcus & Millichap is pleased to present 3121 S Canfield Ave, a well-maintained 9-unit apartment community ideally located in the highly desirable Palms neighborhood of Los Angeles. Built in 1963, the property encompasses approximately 8,602 square feet on an 8,002 square foot lot and features a highly attractive unit mix of four (4) one-bedroom/ one-bath units and five (5) two-bedroom/two-bath units. Residents benefit from spacious floor plans, with select units offering private balconies, contributing to strong tenant appeal and long-term rental stability. Centrally positioned just moments from Culver City, West Los Angeles, and Century City, the property provides residents convenient access to a wide range of dining, shopping, and entertainment options along Venice Boulevard, Culver Boulevard, and nearby commercial corridors. The location is also proximate to major employment hubs, including Silicon Beach, UCLA, and the Westside’s expanding tech and creative sectors. With excellent connectivity to Interstate 10, Interstate 405, and major thoroughfares, 3121 S Canfield Ave offers seamless access throughout the Westside and greater Los Angeles. Situated in one of LA’s strongest and most supply-constrained rental markets, the property represents an attractive opportunity for investors seeking stable in-place income with long-term upside potential through continued rental growth and strategic unit enhancements.

FOR SALE DETAILS

PRICE

$2,350,000 USD

PRICE/SF

$264 USD /SF

# OF UNITS

9

PRICE/UNIT

$261,111

CAP RATE

4.01%

% LEASED

89%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

8,015 SF

ZONING

LAR3

APN/PARCEL ID

4311-023-002

ASK ABOUT THIS PROPERTY

Michael StermanMarcus & MillichapMore Info
818-212-2784

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Michael StermanMarcus & MillichapMore Info
818-212-2784

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