3945 Frances Ave - Multi-Family FOR SALE


Los Angeles, CA 90066- Mar Vista
$3,350,000 USD
310-467-7581
3945 Frances Ave, Los Angeles, CA for Sale
$3,350,000 USD
Multi-Family - FOR SALE
1/20
null | 6.63% Cap Rate

3945 Frances Ave
Los Angeles, CA 90066
Mar Vista


HIGHLIGHTS

  • Prime Mar Vista location just east of Marina Del Rey and north of Playa Vista
  • Ideally located between Venice Blvd and Washington Pl, walking distance to shops, dining, and entertainment in the trending Mar Vista neighborhood
  • Ample parking featuring 13 parking spaces
  • Excellent in-place cash flow in a market that has experienced tremendous growth over recent years
  • Excellent schools in the area making this an ideal location for renters and families

OVERVIEW

3945 Frances is an opportunity to acquire a 19 unit offering in a prime pocket of Mar Vista, adjacent to multi-million dollar homes. The property consists of 19 units, of which, (6) bachelor units are non-conforming. The current unit mix is (13) 1 bed, 1 bath and (6) bachelor, 1 bath units spread out across 9,165 square feet. The building was built in 1963 and sits on a 9,976 square foot lot zoned LAR3. There are currently 2 vacant 1 bed, 1 bath units that offer an investor the opportunity to capture immediate upside. With it’s central location on the Westside, the Mar Vista submarket captures premium rents and the ability to increase cash flow on day one. The building offers on-site laundry facilities and 13 parking spaces, a necessary amenity in this part of town. Mar Vista has benefited from it’s location, adjacent to Venice to the west, Culver City to the south, and West LA to the north. These locations have seen massive growth and development, with both an influx of businesses and residents that have helped rejuvenate these markets, making them a premiere rental pocket in LA’s most desirable and renter friendly pocket.

FOR SALE DETAILS

PRICE

$3,350,000 USD

PRICE/SF

$366 USD /SF

# OF UNITS

19

PRICE/UNIT

$176,316

CAP RATE

6.63%

% LEASED

89%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

13

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

LAR3

APN/PARCEL ID

4235-005-001

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.