3350 Drew St - Apartments FOR SALE


Los Angeles, CA 90065- Atwater Village
$3,600,000 USD
818-939-4058
3350 Drew St, Los Angeles, CA for Sale
$3,600,000 USD
Apartments - FOR SALE
1/9
null | 4.78% Cap Rate

3350 Drew St
Los Angeles, CA 90065
Atwater Village


HIGHLIGHTS

  • LISTING BROKER IS ALSO SERVING AS COURT-APPOINTED REFEREE. SALE SUBJECT TO COURT CONFIRMATION AND POSSIBLE OVERBID. CONTACT BROKER FOR DETAILS.
  • Built in 1988, the property is subject only to AB 1482 statewide rent control and is exempt from the Los Angeles Rent Stabilization Ordinance (RSO).
  • Twelve two-bedroom, two-bathroom units averaging approximately 900 square feet each; several updated units.
  • Strong existing operations with measurable potential for rent growth through continued unit upgrades and modernization.
  • Secure gated complex with 24 covered parking spaces, on-site laundry facilities, separately metered for gas and electric.
  • Located in the Glassell Park neighborhood, convenient access to DTLA, Glendale, Pasadena, and Hollywood via the 2 and 5 freeways.

OVERVIEW

The CREM Group is pleased to exclusively present 3350 Drew Street in Los Angeles, California, a 12- unit apartment building in the rapidly evolving Glassell Park neighborhood. Built in 1988, the property features spacious two-bedroom, two-bathroom units averaging approximately 900 square feet each. The building totals 11,008 square feet of improvements on a 9,601-square-foot lot and includes 24 gated parking spaces, on-site laundry facilities, and is separately metered for gas and electricity. The property benefits from its exemption from Los Angeles City rent control and seismic retrofit requirements. Several units have been thoughtfully updated with hardwood flooring, upgraded lighting, and premium kitchen and bath finishes. Listing broker is also serving as the court-appointed referee for the sale of the property. The sale is subject to court confirmation and may be subject to overbid. Broker makes no representations or warranties regarding the condition, history, or compliance status of the property and shall not be responsible for inspections, repairs, reports, or retrofit requirements prior to closing. Prospective buyers are advised to conduct their own independent investigations and due diligence to satisfy themselves as to all aspects of the property. Contact broker for details.

FOR SALE DETAILS

PRICE

$3,600,000 USD

PRICE/SF

$327 USD /SF

# OF UNITS

12

PRICE/UNIT

$300,000

CAP RATE

4.78%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1988 Built | All 2 BRs

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1988

PARKING SPACES

24

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,604 SF

ZONING

RD2

APN/PARCEL ID

5458-025-003

ASK ABOUT THIS PROPERTY

Andrew LeffThe CREM GroupMore Info
818-939-4058

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

Andrew LeffThe CREM GroupMore Info
818-939-4058

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