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Listing Details

Status
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On Site
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On Market
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MLS #
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Neighborhood
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Type
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Built
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School Ratings & Info

Description

Located just minutes from the beach and tech hubs such as Silicone Beach, Playa Vista and Culver City, this 20 unit value add opportunity is a perfect choice for a value add investor looking to finish with a completely rehabbed building at a 5.7% cap rate on the Westside. With 16 vacancies, the property is ready for an investor to hit the ground running. By completely renovating the building, converting units and adding five to seven Accessory Dwelling Units (ADUs), the property has the ability to achieve a 20% IRR after a five year hold. The nine singles can be converted into one bedrooms. The ten one bedrooms can either be converted into an open floor plan or a den can be added. One of the one bedrooms can be converted into a two bedroom.An ADU specialist confirmed that five attached one bedroom ADUs can be added to the property for additional income without losing parking spaces. An additional two detached two bedroom ADUs can be built by filling in the pool and building them on the South side of the courtyard. Renovation costs, construction costs and even ADU quotes are included in the financials. Before and after photos as well as floor plans demonstrate how to reach the 20% IRR. ***Please contact us for an OM, please ask about our Condo Conversion OM as well.***

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-16T21:30:59.323. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Latrice Deluna Homes | The Orion Group. Licensed in the State of California, USA.
www.findorangecountyhomelistings.com/homes/118850657
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3499 Sawtelle Boulevard Los Angeles (City), CA 90066

  • Price: $8,000,000
  • Status: Active
  • Updated: 32 min ago
  • ID#: 21754878
0
Beds
0
Baths
0
½ Baths
0.36
Acres
1959
Built
Neighborhood:
C13 - Palms - Mar Vista
County:
Los Angeles
Area:
C13 - Palms - Mar Vista
Property Description
Located just minutes from the beach and tech hubs such as Silicone Beach, Playa Vista and Culver City, this 20 unit value add opportunity is a perfect choice for a value add investor looking to finish with a completely rehabbed building at a 5.7% cap rate on the Westside. With 16 vacancies, the property is ready for an investor to hit the ground running. By completely renovating the building, converting units and adding five to seven Accessory Dwelling Units (ADUs), the property has the ability to achieve a 20% IRR after a five year hold. The nine singles can be converted into one bedrooms. The ten one bedrooms can either be converted into an open floor plan or a den can be added. One of the one bedrooms can be converted into a two bedroom.An ADU specialist confirmed that five attached one bedroom ADUs can be added to the property for additional income without losing parking spaces. An additional two detached two bedroom ADUs can be built by filling in the pool and building them on the South side of the courtyard. Renovation costs, construction costs and even ADU quotes are included in the financials. Before and after photos as well as floor plans demonstrate how to reach the 20% IRR. ***Please contact us for an OM, please ask about our Condo Conversion OM as well.***
Exterior Features

Parking Features Covered Pool Features Community Pool Private YN No

Interior Features

Appliances RefrigeratorVented Exhaust Fan Cooling None Cooling YN No Heating Wall Furnace Heating YN Yes

Property Features

Community Features Pool Gross Income 516015 Laundry Features Common Area Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 330730 Senior Community YN No Special Listing Conditions Standard Zoning Lar3

Listing provided courtesy of Kelly Morgan of Keller Williams-Santa Monica


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-16T21:30:59.323. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Latrice Deluna Homes | The Orion Group. Licensed in the State of California, USA.
 
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Latrice Deluna Homes | The Orion Group
4533 MacArthur Blvd Ste 5074
Newport Beach CA, 92660