3655 Motor Ave - Apartments FOR SALE


Los Angeles, CA 90034- Palms
$5,650,000 USD
310-324-7400
3655 Motor Ave, Los Angeles, CA for Sale
$5,650,000 USD
Apartments - FOR SALE
1/29
null | 4.91% Cap Rate

3655 Motor Ave
Los Angeles, CA 90034
Palms


HIGHLIGHTS

  • 2006 built townhouse-style units with in-unit washer/dryers, water heaters, central HVAC, gated parking
  • Partial units come with spacious rooftop decks and patios
  • Subject to AB-1482, not LA RSO

OVERVIEW

Lilly Enterprises, Inc. is pleased to present for sale 3655 Motor Ave. in Palms Mar Vista of Los Angeles, CA.  The offering consists of a 2006 built (defaults to AB-1482) 12 unit apartment building with townhouse-style units.  The property has benefitted from a local family of conscientious operators and their portfolio is professionally managed by Lilly Property Management Co.  The equal mix of 1BR/1.5BA (6) and 2BR/2.5BA (6) units (ranging from 800 to 900 SF) cater towards a broad rental market.  The 1BR's, which account for 50% of all units, may assist in keeping rents paced with the market during turnover.  The building is offered at a reasonable 4.90 CAP / 13.40 X with a stabilized 5.20 CAP / 12.90 X.  Tenants will have access to in-unit washer/dryers, central HVAC, individual water heaters, private patios, rooftop decks and 22 gated parking spaces.  Within close proximity is the E Station of the Metro Line in addition to the 405 and 10 Freeways.  Also within close proximity is Downtown Culver City, Hayden Tract and Sony Pictures Studios.  According to LA County Planning 2023, Palms Mar Vista had a total population of 112,000 people with an average household income of $105,000. 65% of the population were renters.  The offering presents an ideal turn-key opportunity of operational stability with consistent cash flow and predictable long term appreciation.  Furthermore, offering potential ADU avenues for the new owner to explore (buyer to verify).  The property will make a strong addition to any investor's portfolio whether they're in acquisition mode or simply looking for an immediate and quality 1031 solution.  Property is subject to AB-1482.  As of May 2025 there are two (2) 1BR/1.5BA vacancies.  No other units will be delivered vacant by Seller upon close of escrow, except those occurring naturally.  Property to be sold in as-is condition.  Please DO NOT walk the property or disturb the tenants.  Text/email agent for OM. Showing upon an accepted offer.  Please submit proof of funds and pre-approval with offer.

FOR SALE DETAILS

PRICE

$5,650,000 USD

PRICE/SF

$471 USD /SF

# OF UNITS

12

PRICE/UNIT

$470,833

CAP RATE

4.91%

% LEASED

83%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2006

PARKING SPACES

22

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

LAC2

APN/PARCEL ID

4314-008-050

ASK ABOUT THIS PROPERTY

Matt LeeLilly Enterprises, Inc.More Info
310-324-7400

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Matt LeeLilly Enterprises, Inc.More Info
310-324-7400

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