9-Units in Palms | 5.49% Cap Rate | 3720 Midvale Ave
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9-Units in Palms | 5.49% Cap Rate 3720 Midvale Ave
9 Unit Apartment Building $3,050,000 ($338,889/Unit) 5.49% Cap Rate Los Angeles, CA 90034
Investment Highlights
- Midvale is Currently Achieving a Healthy Income Stream of More than $20,000 in Scheduled Rent Per Month
- Located In a Highly Desirable Pocket of West LA. Residents Enjoy Convenient access to Employment Centers, Retail & Entertainment
- 44% of Units are Townhome Style Units that Feature Private Yards
- Select Units have been Renovated with Upgraded Electrical Systems, Luxury Flooring, Stainless Steel Appliances, Large Private Patios & Washer/Dryers
- There is 22 Percent Remaining Rental Upside Through Turnover and Tactful Renovations
- Current Ownership Has Attentively Maintained the Property Which Has Very Little Deferred Maintenance
Executive Summary
Do Not Walk the Property or Disrupt Tenants. Contact Listing Team for Property Showing Instructions.
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale 3720 Midvale Avenue, a nine-unit apartment community in Palms, an affluent residential neighborhood bordering Culver City. The subject property is located West of Overland Avenue & South of Palms Boulevard, ideally located a few blocks away from the I-10 Freeway and half a block North of Venice Boulevard allowing tenants convenient access throughout Los Angeles.
Nestled between Beverly Hills, Century City, Marina Del Rey, Santa Monica and Venice, 3720 Midvale Avenue provides residents with easy access to major thoroughfares and the charm of Palms’ vibrant neighborhood. The area captures the essence of urban living providing tenants access to West LA, Downtown Culver City and strong employment opportunities as many of the largest tech companies including Google, Apple, Tesla and Amazon have leased space nearby.
Situated on a 7,991 square foot lot, the property is comprised of five one-bedroom units and four two-bedroom townhome units. Current ownership has extensively renovated the property including a new roof & select units have been upgraded with new water heaters, new electrical systems, luxury flooring, stainless steel appliances, large private patios, in-unit washer/dryers, & more. Townhome units feature private yards that attract more demand and garner higher rents.
3720 Midvale Avenue provides investors with a rare opportunity to acquire a well-maintained asset with remaining value-add components in a desirable pocket of West Los Angeles.
* Please refer to the Unit Configuration Summary on page 15 of the Offering Memorandum for further details.
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale 3720 Midvale Avenue, a nine-unit apartment community in Palms, an affluent residential neighborhood bordering Culver City. The subject property is located West of Overland Avenue & South of Palms Boulevard, ideally located a few blocks away from the I-10 Freeway and half a block North of Venice Boulevard allowing tenants convenient access throughout Los Angeles.
Nestled between Beverly Hills, Century City, Marina Del Rey, Santa Monica and Venice, 3720 Midvale Avenue provides residents with easy access to major thoroughfares and the charm of Palms’ vibrant neighborhood. The area captures the essence of urban living providing tenants access to West LA, Downtown Culver City and strong employment opportunities as many of the largest tech companies including Google, Apple, Tesla and Amazon have leased space nearby.
Situated on a 7,991 square foot lot, the property is comprised of five one-bedroom units and four two-bedroom townhome units. Current ownership has extensively renovated the property including a new roof & select units have been upgraded with new water heaters, new electrical systems, luxury flooring, stainless steel appliances, large private patios, in-unit washer/dryers, & more. Townhome units feature private yards that attract more demand and garner higher rents.
3720 Midvale Avenue provides investors with a rare opportunity to acquire a well-maintained asset with remaining value-add components in a desirable pocket of West Los Angeles.
* Please refer to the Unit Configuration Summary on page 15 of the Offering Memorandum for further details.
Property Facts
| Price | $3,050,000 | Apartment Style | Low Rise |
| Price Per Unit | $338,889 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 5.49% | Building Size | 7,229 SF |
| Gross Rent Multiplier | 12.6 | Average Occupancy | 100% |
| No. Units | 9 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1964 |
| Property Subtype | Apartment | Parking Ratio | 1.38/1,000 SF |
| Price | $3,050,000 |
| Price Per Unit | $338,889 |
| Sale Type | Investment |
| Cap Rate | 5.49% |
| Gross Rent Multiplier | 12.6 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 7,229 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 1.38/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | - | 450 - 600 |
| 2+1 | 4 | - | 900 |
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Walk Score ®
Very Walkable (83)
Bike Score ®
Very Bikeable (76)
PROPERTY TAXES
| Parcel Number | 4252-026-004 | Improvements Assessment | $530,604 |
| Land Assessment | $1,910,174 | Total Assessment | $2,440,778 |
PROPERTY TAXES
Parcel Number
4252-026-004
Land Assessment
$1,910,174
Improvements Assessment
$530,604
Total Assessment
$2,440,778
zoning
| Zoning Code | R3 |
| R3 |
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Sean Rosenzweig -
Josh Zimmerman -
Marcus & Millichap
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9-Units in Palms | 5.49% Cap Rate | 3720 Midvale Ave
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