3970 Moore St
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3970 Moore St
6 Unit Apartment Building $2,350,000 ($391,667/Unit) 3.86% Cap Rate Los Angeles, CA 90066
Investment Highlights
- Six-unit investment opportunity in the Mar Vista neighborhood of the westside of Los Angeles at 3970 Moore St, located just north of W Washington Blvd
- Abundant parking with 10 spaces
- Long-time ownership, this is the first time the property has been marketed for sale since it was built
- The property features a unit mix made up of all one-bedroom units; five of the units feature lofted bedrooms with high ceilings in the living room
- Built in 1986, the property is not subject to Los Angeles city rent control
- Considerable rental upside of over 25% achievable as units turn
Executive Summary
We are pleased to present a rare six-unit investment opportunity at 3970 Moore Street, located in the desirable Mar Vista neighborhood on the westside of Los Angeles. This well-maintained property, built in 1986, features a unique unit mix of all one-bedroom apartments, with five units boasting lofted bedrooms and high ceilings in the living room. The property includes 10 parking spaces and is separately metered for gas and electricity, along with a community laundry room.
Not subject to Los Angeles city rent control, this asset provides considerable upside potential with over 25% achievable rent growth as units turn. There is significant value-add potential through interior upgrades, such as vinyl plank flooring, modern fixtures, remodeled kitchens and bathrooms, in-unit washers and dryers, and new cabinetry.
Located in a prime area with easy access to retail along Washington Boulevard, this property is ideal for professionals commuting to Playa
Vista, El Segundo, Santa Monica, and Culver City. The westside submarket has a consistent track record of rent growth and property appreciation, making this a highly attractive investment for those looking to acquire a non-RSO asset in a dynamic and thriving area.
This is the first time this property has been marketed for sale since its construction, offering a unique opportunity for investors.
Not subject to Los Angeles city rent control, this asset provides considerable upside potential with over 25% achievable rent growth as units turn. There is significant value-add potential through interior upgrades, such as vinyl plank flooring, modern fixtures, remodeled kitchens and bathrooms, in-unit washers and dryers, and new cabinetry.
Located in a prime area with easy access to retail along Washington Boulevard, this property is ideal for professionals commuting to Playa
Vista, El Segundo, Santa Monica, and Culver City. The westside submarket has a consistent track record of rent growth and property appreciation, making this a highly attractive investment for those looking to acquire a non-RSO asset in a dynamic and thriving area.
This is the first time this property has been marketed for sale since its construction, offering a unique opportunity for investors.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$196,800
|
$58.22
|
| Other Income |
$600
|
$0.18
|
| Vacancy Loss |
$9,870
|
$2.92
|
| Effective Gross Income |
$187,530
|
$55.48
|
| Taxes |
$28,200
|
$8.34
|
| Operating Expenses |
$32,275
|
$9.55
|
| Total Expenses |
$60,475
|
$17.89
|
| Net Operating Income |
$127,055
|
$37.59
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $196,800 |
| Annual Per SF | $58.22 |
| Other Income | |
|---|---|
| Annual | $600 |
| Annual Per SF | $0.18 |
| Vacancy Loss | |
|---|---|
| Annual | $9,870 |
| Annual Per SF | $2.92 |
| Effective Gross Income | |
|---|---|
| Annual | $187,530 |
| Annual Per SF | $55.48 |
| Taxes | |
|---|---|
| Annual | $28,200 |
| Annual Per SF | $8.34 |
| Operating Expenses | |
|---|---|
| Annual | $32,275 |
| Annual Per SF | $9.55 |
| Total Expenses | |
|---|---|
| Annual | $60,475 |
| Annual Per SF | $17.89 |
| Net Operating Income | |
|---|---|
| Annual | $127,055 |
| Annual Per SF | $37.59 |
Property Facts
| Price | $2,350,000 | Property Subtype | Apartment |
| Price Per Unit | $391,667 | Apartment Style | Low Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 3.86% | Lot Size | 0.13 AC |
| Gross Rent Multiplier | 14.95 | Building Size | 3,380 SF |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1986 |
| Price | $2,350,000 |
| Price Per Unit | $391,667 |
| Sale Type | Investment |
| Cap Rate | 3.86% |
| Gross Rent Multiplier | 14.95 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 3,380 SF |
| No. Stories | 2 |
| Year Built | 1986 |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Tub/Shower
- Loft Layout
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
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Walk Score ®
Walker's Paradise (91)
Bike Score ®
Very Bikeable (80)
PROPERTY TAXES
| Parcel Number | 4236-021-019 | Total Assessment | $1,004,890 |
| Land Assessment | $401,951 | Annual Taxes | $28,200 ($8.34/SF) |
| Improvements Assessment | $602,939 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
4236-021-019
Land Assessment
$401,951
Improvements Assessment
$602,939
Total Assessment
$1,004,890
Annual Taxes
$28,200 ($8.34/SF)
Tax Year
2024
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3970 Moore St
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