3602 Keystone Ave - Apartments FOR SALE


Los Angeles, CA 90034- Palms
$2,850,000 USD
310-467-7581
3602 Keystone Ave, Los Angeles, CA for Sale
$2,850,000 USD
Apartments - FOR SALE
1/29
null | 5.37% Cap Rate

3602 Keystone Ave
Los Angeles, CA 90034
Palms


HIGHLIGHTS

  • Located in prime Palms, adjacent to Socal's fastest growing employment center including Apple, Amazon, HBO, Sony, Tik Tok and Pinterest
  • Keystone offers excellent day 1 cash flow coupled with rental upside providing opportunity to grow income in one of the top rental pocks in LA
  • True pride of ownership opportunity with most unit being renovated, copper plumbing throughout and a beautifully landscaped exterior
  • Immediate access to upside with 2 renovated vacant units providing ability to capture top of the market rents with no additional capital expenditures
  • Walking distance to Overland corridor, which is the the midst of a major transformation with nearly 400 new mixed-use apartment units online.
  • Tenants enjoy immediate access to Downtown Culver City's thriving live-work-dine district, anchored by Ivy Station, Culver Steps and many others

OVERVIEW

The James Group is pleased to present 3602 Keystone Ave, ideally located in the heart of Palms, one of the best rental pockets on LA’s Westside and directly adjacent to Culver City. The subject property is a 10 unit apartment building built in 1967. The building boasts an excellent unit mix including (2) 2 Bed / 1.5 Bath, (7) 1 Bed / 1 Bath, and (1) Studio / 1 Bath units spread out over 7,032 net rentable square feet, and sits on a 7,504 square foot LAR3 zoned lot. 3602 Keystone is a rare pride-of-ownership offering that has been meticulously maintained over the years, with most units renovated, and features copper plumbing and 12 on-site parking spaces, six of which are private enclosed garages. The property produces excellent in-place cash flow with approximately 14% upside remaining in the rents, giving a future investor a turnkey asset along with long-term rent growth potential. Palms has established itself as one of the strongest rental pockets in all of Los Angeles, anchored by its proximity to Culver City’s booming tech and media economy. Culver City has become a true “content capital,” drawing marquee employers including Apple, Amazon, HBO, Sony Pictures, TikTok, and Pinterest, all within minutes of the subject property. The Overland Blvd corridor immediately surrounding the property is in the midst of a major transformation, with nearly 400 new mixed-use apartment units in the pipeline bringing new retail, density, and vibrancy to the neighborhood, while Downtown Culver City’s thriving live-work-dine district, anchored by Ivy Station and The Culver Steps, sits just to the west. The property is easily accessible to all of the Westside’s major business hubs, with immediate proximity to the 10 Freeway and the Metro E (Expo) Line connecting tenants to Culver City, Santa Monica, and Downtown LA. The combination of an irreplaceable location, a pristine building, excellent cash flow, and remaining rental upside makes this a compelling opportunity to own a generational asset in one of LA’s best neighborhoods.

FOR SALE DETAILS

PRICE

$2,850,000 USD

PRICE/SF

$405 USD /SF

# OF UNITS

10

PRICE/UNIT

$285,000

CAP RATE

5.37%

% LEASED

80%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1967

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,501 SF

ZONING

LAR3

APN/PARCEL ID

4314-009-036

ASK ABOUT THIS PROPERTY

Peter JamesLyon Stahl Investment Real EstateMore Info
310-467-7581

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Peter JamesLyon Stahl Investment Real EstateMore Info
310-467-7581

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