3631 Motor Ave, Los Angeles, CA 90034
4 Unit Apartment Building Offered at $2,900,000 at a 2.85% Cap Rate in Los Angeles, CA 90034
For Sale
Active
25 pictures
Asking Price $2,900,000
- Property Type
-
Multifamily
- Square Feet
- 2,793 SF
Listing Contacts
Dannie Cavanaugh
Property Overview
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.
Property Details
- Year Built
- 1942
- Stories
- 2
- Units
- 4
Highlights
- 3 stand-alone houses and 1 apartment over garages
- Tier 3 TOC designation
- Development Opportunities
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