4061 Wade St - Apartments FOR SALE


Los Angeles, CA 90066- Culver-West
$3,600,000 USD
424-653-1854
4061 Wade St, Los Angeles, CA for Sale
$3,600,000 USD
Apartments - FOR SALE
1/18
null | 5.39% Cap Rate

4061 Wade St
Los Angeles, CA 90066
Culver-West


HIGHLIGHTS

  • 10 units on an expansive 15,800 SF lot with potential to add up to 8 detached ADUs (Buyer to verify)
  • Attractive low-interest rate, assumable loan delivering a 7.5% Year 1 return
  • 5.39% initial cap rate with ±15% upside in income
  • Desirable mix of all Two-Bedroom units
  • Situated within the sought-after Culver City school district and municipal jurisdiction
  • Premier Culver West location near Mar Vista, Marina del Rey, and Venice

OVERVIEW

Kidder Mathews, as exclusive listing agent, is pleased to offer 4061 Wade St, a charming 10-unit apartment community on a quiet residential street in prime Culver West. THE ASSET Built in 1953, this charming apartment community sits on an expansive 15,825-square-foot parcel and features an attractive mix of all two-bedroom units. The lot size and configuration make the property a strong candidate for future detached ADU development. Ample on-site parking is provided at the rear of the property, including 10 covered spaces and 3 uncovered spaces. The building offers spacious, well-appointed units and delivers an initial 5.39% cap rate, with approximately 15% rental upside achievable through unit turnover and renovation, as well as the implementation of a RUBS program to recapture utility expenses. The existing loan is potentially assumable at a highly attractive 4.35% interest rate, fully amortizing and fixed through July 1, 2027. THE NEIGHBORHOOD 4061 Wade St is located in the highly desirable Culver West neighborhood, offering a rare combination of quiet residential living and immediate access to some of the Westside’s most sought-after communities, including Mar Vista, Marina del Rey, Downtown Culver City, and Venice. Residents enjoy exceptional walkability, with a wide selection of shopping, dining, and entertainment just steps away along Washington Boulevard. The property is also less than a mile from Villa Marina Marketplace, a major Marina del Rey retail destination featuring an impressive tenant mix such as AMC Dine-In, Equinox Fitness, Gelson’s Market, Ruth’s Chris Steak House, Yard House, and more. The property is situated on a peaceful residential street that dead-ends into Culver West Alexander Park, a 3.13-acre neighborhood park offering open green space, sports courts, a playground, and one of Culver City’s only designated dog-walking paths.

FOR SALE DETAILS

PRICE

$3,600,000 USD

PRICE/SF

$450 USD /SF

# OF UNITS

10

PRICE/UNIT

$360,000

CAP RATE

5.39%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Wade Street Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1953

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,825 SF

ZONING

CCR3A*

APN/PARCEL ID

4231-028-015

ASK ABOUT THIS PROPERTY

Darin BeebowerKidder MathewsMore Info
424-653-1854

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Darin BeebowerKidder MathewsMore Info
424-653-1854

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