Rare opportunity to acquire a portfolio of 12 units on three contiguous parcels in Los Angeles Palms neighborhood. The offering boasts a great location at 3704, 3710 and 3714 Glendon Avenue, less than a block north of Venice Boulevard and a Ralph s grocery store, a half-mile from Sony Studios, surrounded by numerous major development projects, proximate to downtown Culver City s popular entertainment and major employers, and just four miles to Venice Beach. The average household income within one mile exceeds $110,000. The portfolio comprises 3704 Glendon Avenue, a single-story triplex, 3710 Glendon Avenue, a two-story building with six units, and 3714 Glendon Avenue, which has a one-bedroom home in the front and a rear duplex with garages. Together, the buildings have a mix of two two-bedroom units, nine one-bedroom units, and a bachelor unit. All buildings feature on-site parking, units separately metered for gas and electric, and laundry hook ups. Current rents offer a new investor 35 percent rental upside, making this a great investment opportunity in a popular and growing market. Furthermore, a new investor may want to consider redevelopment; up to 36 units may be built on the three contiguous parcels by utilizing low income density bonuses (buyer to verify).
Courtesy of Steven M. Bogoyevac, Broker, Steven Bogoyevac,
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Data last updated 3/22/23