3711 S Western Ave - Apartments FOR SALE


Los Angeles, CA 90018- Leimert Park
$1,450,000 USD
310-402-8958
3711 S Western Ave, Los Angeles, CA for Sale
$1,450,000 USD
Apartments - FOR SALE
1/23
null | 10% Cap Rate

3711 S Western Ave
Los Angeles, CA 90018
Leimert Park


HIGHLIGHTS

  • CURRENT HIGH YIELD 10.0% CAP RATE
  • CURRENT 7.9X GROSS RENT MULTIPLIER
  • ONLY $161K/ PRICE PER UNIT
  • STEPS FROM EXPO/ WESTERN METRO STATION
  • NEW COPPER PLUMBING & NEW ELECTRICAL
  • LAC2 ZONING (HOTEL/ MOTEL USE)

OVERVIEW

proud to present 3711 S. Western Avenue, a rare opportunity to acquire a fully vacant nine-unit multifamily investment property, formerly operated as a motel. Ideally positioned in the vibrant Exposition Park submarket, the property sits just blocks from the University of Southern California and only steps from the Expo/Western Metro Station, making it a prime location for students, commuters, and young professionals alike. Originally built in 1965, this wood-frame and stucco property rests on a raised foundation and offers approximately 2,406 square feet of rentable space on a 4,320 square foot LAC2-zoned lot with hotel/motel use. The asset has been thoughtfully improved over the years for long-term durability and efficiency. A comprehensive 2004 renovation delivered upgraded electrical systems and new copper plumbing throughout, both vertical and horizontal, while a 200-amp solar panel system installed in 2018 enhances energy efficiency and reduces utility costs. The building has also been structurally reinforced and upgraded to meet current city codes and regulations. The property features an attractive unit mix of eight studio units with kitchenettes and one spacious 2-bedroom + 1-bathroom unit. Market rents are approximately $1,595 per month for the studios and $2,375 per month for the two-bedroom, representing a potential gross income of $15,135 per month once fully leased. Delivered 100% vacant, the asset offers a new owner a rare blank slate to establish market rents from day one with no existing tenancies to navigate. Priced at a current 10% cap rate and a 7.9x gross rent multiplier, 3711 S. Western Avenue presents an exceptional, high-yield cash-flow opportunity in one of Los Angeles' most dynamic and transit-connected submarkets, just minutes from USC, Exposition Park, and Downtown LA. PLEASE NOTE THE FOLLOWING: 1) DO NOT DISTURB THE TENANTS. 2) Submit Offer on a CAR Residential-Income Purchase Agreement. 3) Interior Inspection/Books & Records Granted with an Accepted Offer. 4) Submit Proof of Funds & Pre-Qualification Letter with Offer. 5) Seller Selects all Services. Disclaimer: All information has been secured from sources we believe to be reliable. However, we make no representation or warranties, expressed or implied, as to the accuracy of the information provided, including square footage, lot size, permitted or un-permitted spaces, and/or bedroom/bathroom count. Buyer is advised to independently verify the accuracy of this information through personal inspections and/or with appropriate professionals. Buyer bears all risk for any inaccuracies.

FOR SALE DETAILS

PRICE

$1,450,000 USD

PRICE/SF

$603 USD /SF

# OF UNITS

9

PRICE/UNIT

$161,111

CAP RATE

10%

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,321 SF

ZONING

LAC2

APN/PARCEL ID

5041-024-027

ASK ABOUT THIS PROPERTY

Davis SaadianDavis Saadian GroupMore Info
310-402-8958

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Davis SaadianDavis Saadian GroupMore Info
310-402-8958

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