Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Bedrooms

4

Building size

4,110 sqft

Lot size

4,997 sqft

Year built

1966

Stories

2

Heating

None

Cooling

None

Status

Active

Days on market

8

MLS #

247564197

About this property

We are pleased to present 3670 Greenfield Avenue, a 4-unit courtyard building in the highly sought-after Palms neighborhood of Los Angeles. The property is comprised of one 1-bedroom/1-bath unit and three 3-bedroom/2-bath units, totaling approximately 4,110 gross square feet on a 4,995 SFLARD2-zoned lot. One spacious and fully renovated 3+2 will be delivered vacant at COE. This presents an attractive owner-user opportunity, allowing a buyer to occupy a fully upgraded 3+2 in a premier Westside location while three tenanted units offset carrying costs from day one. The vacant 3+2 unit has been fully renovated and is delivered turnkey, featuring LVP flooring throughout, a new kitchen with custom cabinetry, countertops, and a full stainless steel appliance package including dishwasher, stove, over-stove microwave, and refrigerator. The bathrooms have been fully updated with a frameless glass walk-in shower in the primary, new tile surrounds, updated vanities, mirrors, and all new hardware. Vinyl windows and doors, new light fixtures, through-wall AC units with heat in all bedrooms, and a mini-split in the living room complete the renovation. Each renovated unit has also received a new electrical subpanel. Select units feature in-unit fireplaces, private balconies, and wall AC units. The property also offers a rear common area patio for tenant use, extra tenant storage located within the tuck-under parking structure, and separately metered gas and electric for each unit. Priced at $2,100,000 ($525,000 per unit and $510.95 per gross SF), the offering generates a current CAP rate of 5.07% and a current GRM of 12.54, improving to a 5.48% pro forma CAP rate and 11.86 pro forma GRM as the remaining below-market tenancy resolves. Situated just minutes from Culver City, the property benefits from one of the strongest rental corridors on the Westside. Tenants have immediate access to the Culver City Arts District, Downtown Culver City, Sony Pictures Studios, and the Amazon Studios campus, along with walkable retail along Venice Boulevard and Washington Boulevard. The broader trade area draws from major employment centers including Playa Vista tech hub, Century City, Santa Monica,and Marina del Rey, sustaining deep and consistent renter demand across all unit types.

Location

3670 Greenfield Avenue

Los Angeles, Los Angeles, CA, 90034