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

5

Building size

4,692 sqft

Lot size

7,510 sqft

Year built

1948

Stories

2

Heating

Combination,Wall Furnace,Central

Cooling

None

Status

Active

Days on market

19

MLS #

247871068

About this property

EXCEPTIONAL CULVER CITY INVESTMENT WITH TREMENDOUS INCOME UPSIDE! Rare 5-unit property offering an outstanding opportunity to acquire a significantly under-market income property in one of Culver City's most desirable rental locations. The property consists of three 1-bedroom/1-bath units, one 2-bedroom/1-bath unit, plus a separate 4-bedroom/2-bath rear house. Current gross rents are only $7,904 per month ($94,848 annually), providing substantial long-term upside as rents transition toward prevailing market levels, subject to applicable rent-control and tenant-protection regulations. Projected market rents are approximately $16,400 per month, or $196,800 annually...more than double the property's current gross income. This represents over $100,000 in potential additional annual gross income at projected market rents. Adding to the opportunity, the detached 4-bedroom/2-bath rear house is expected to be delivered vacant, giving the new owner an immediate opportunity to capture substantially higher income from a major component of the property. Lease it at market rent, renovate and reposition it, or consider it for owner occupancy while collecting income from the four apartment units. This is exactly the type of value-add opportunity that has become increasingly difficult to find in Culver City: strong existing income, dramatically below-market rents, an excellent unit mix, a vacant detached house, and significant future income potential. Prime Culver City location convenient to Downtown Culver City, restaurants, shopping, entertainment, transportation and major Westside employment centers. An exceptional opportunity for an investor willing to look beyond today's income and recognize the property's considerable long-term potential. Projected market rents are estimates only and are not guaranteed. Buyer to independently investigate rental rates, rent-control requirements and all applicable regulations.

Location

3957 Huron Avenue

Culver City, Los Angeles, CA, 90232