3640 Jasmine Ave, Los Angeles, CA 90034
5 Unit Apartment Building | $2,168,000 ($433,600/Unit) | 2.38% Cap Rate | Los Angeles, CA 90034
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,168,000
- Property Type
-
Multifamily
- Square Feet
- 3,930 SF
Listing Contacts
Donald La
Verified Profile
Alan Tran
Verified Profile
- Property Info
Property Overview
3640 Palms is a prime investment opportunity in the high sough neighborhood. This multifamily property is built in 1967, totaling 3,930 square feet on a spacious 5,474 square foot lot, zoned LAR3. There are three 1 bedroom, one studio, and one 2 bedrooms unit with a den and 2 baths that can be converted to a 3 bedroom unit. The property has separated gas and electric meter, as well as an onsite laundry facility for additional income. Each unit is adorned hard wood floor, gas stoves, balconies or patio, two units has fireplace. This pride property has low water landscaping and has 6 open parking spaces with a safe security gate. Earthquake soft story was completed in 2021. This property presents a significant opportunity for investors with an estimate of 30% upside in gross rental income. It is conveniently located in proximity to the beach communities of Culver City, Santa Monica, and the new Expo line station and the 405 and 10 freeways.
Property Details
- Class
- C
- Year Built
- 1967
- Stories
- 2
- Lot Size (sq. ft)
- 5,663 SF
- Units
- 5
Highlights
- Each unit features hardwood floors, gas stoves, and balconies or patios, with two units boasting fireplaces.
- Strategically located near Culver City, Santa Monica, the Expo line station, and the 405 and 10 freeways.
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