3631 Motor Avenue | 3631 Motor Ave
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3631 Motor Avenue 3631 Motor Ave
4 Unit Apartment Building $2,900,000 ($725,000/Unit) 2.85% Cap Rate Los Angeles, CA 90034
Investment Highlights
- 3 stand-alone houses and 1 apartment over garages
- Development Opportunities
- Tier 3 TOC designation
Executive Summary
Pride of ownership four-unit building on Motor Avenue in the heart of Palms. Three stand-alone homes, each with their own water heaters, mini split air conditioning and heating units, and washer/dryer hook-ups and a fourth unit over the rear garages. The updated front house has two bedrooms and one bath and the unit over the garages also has two bedrooms and one bath. The other two units each have one bedroom and one bathroom and one of the units was recently renovated. Four garage spaces off the rear alley plus a store room that is used by the owner. Each unit is separately metered for gas and electricity and the owner pays for water and gardener. The lot is 7,500 square feet (50’ X 150’) to a 20’ alley and the zoning is MU-EC (Mixed Use – Exposition Corridor), which may allow for significant development opportunities. Buyers are encouraged to check with the city of LA for more information on allowed uses, allowed maximum height, and density bonuses. The property has a Tier 3 TOC designation. Please do not walk the property or disturb the tenants. The units can be shown only with an accepted offer. Individual unit square footage is approximate.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$131,880
|
$47.22
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$3,956
|
$1.42
|
| Effective Gross Income |
$127,924
|
$45.80
|
| Taxes |
$36,250
|
$12.98
|
| Operating Expenses |
$9,040
|
$3.24
|
| Total Expenses |
$45,290
|
$16.22
|
| Net Operating Income |
$82,634
|
$29.59
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $131,880 |
| Annual Per SF | $47.22 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $3,956 |
| Annual Per SF | $1.42 |
| Effective Gross Income | |
|---|---|
| Annual | $127,924 |
| Annual Per SF | $45.80 |
| Taxes | |
|---|---|
| Annual | $36,250 |
| Annual Per SF | $12.98 |
| Operating Expenses | |
|---|---|
| Annual | $9,040 |
| Annual Per SF | $3.24 |
| Total Expenses | |
|---|---|
| Annual | $45,290 |
| Annual Per SF | $16.22 |
| Net Operating Income | |
|---|---|
| Annual | $82,634 |
| Annual Per SF | $29.59 |
Property Facts
| Price | $2,900,000 | Property Type | Multifamily |
| Price Per Unit | $725,000 | Property Subtype | Apartment |
| Sale Type | Investment | Building Size | 2,793 SF |
| Cap Rate | 2.85% | No. Stories | 2 |
| Gross Rent Multiplier | 22 | Year Built | 1942 |
| No. Units | 4 | Parking Ratio | 1.43/1,000 SF |
| Price | $2,900,000 |
| Price Per Unit | $725,000 |
| Sale Type | Investment |
| Cap Rate | 2.85% |
| Gross Rent Multiplier | 22 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Size | 2,793 SF |
| No. Stories | 2 |
| Year Built | 1942 |
| Parking Ratio | 1.43/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $2,945 | 850 |
| 1+1 | 2 | $2,550 | 550 |
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Walk Score ®
Very Walkable (89)
Bike Score ®
Very Bikeable (85)
PROPERTY TAXES
| Parcel Number | 4314-008-010 | Total Assessment | $1,077,487 (2024) |
| Land Assessment | $861,993 (2024) | Annual Taxes | $36,250 ($12.98/SF) |
| Improvements Assessment | $215,494 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
4314-008-010
Land Assessment
$861,993 (2024)
Improvements Assessment
$215,494 (2024)
Total Assessment
$1,077,487 (2024)
Annual Taxes
$36,250 ($12.98/SF)
Tax Year
2023
zoning
| Zoning Code | MU-EC |
| MU-EC |
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3631 Motor Avenue | 3631 Motor Ave
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