3729 Glendon Ave, Los Angeles, CA 90034
4 Unit Apartment Building | $2,245,000 ($561,250/Unit) | 4.37% Cap Rate | Los Angeles, CA 90034
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
Asking Price $2,245,000
- Property Type
-
Multifamily
- Square Feet
- 5,224 SF
Listing Contacts
Robert Sillman
Verified Profile
Cameron Samimi
Verified Profile
- Property Info
Property Overview
OWNER OCCUPIED OPPORTUNITY & $150K PRICE REDUCTION - potential for a 3-bed unit to be delivered VACANT at close of escrow! First time on the market since 1984, 3729 Glendon Avenue is one of the largest 4-unit apartment buildings located in the highly desirable Palms neighborhood of West LA. This impressive 5,224 sqft building is offered at only $429/sqft and consists of four spacious units: (3) 3Bed+2Bath and (1) 2Bed+1Bath. The upstairs, 3-bed "Owner's Unit" boasts a larger floorplan, an additional office/4th bedroom, a fireplace, and a front deck. Select units benefit from private decks, dishwashers, walk-in showers, and wall ACs, while Unit 2 has exclusive access to a sizeable 15' x 35' outdoor patio. Additional features include an on-site laundry room, (4) tandem parking spaces, gated entry, separate meters for gas and electric, and soft-story retrofit was completed in 2021. 3729 Glendon Avenue currently collects ~$12,000/month and ~$144,000/year with approximately 28% in rental upside via interior/exterior renovations. Once rented at market, the property will operate at a 5.94% CAP and 12.20 GRM. Whether you are a long-term investor or an owner-user looking to take advantage of residential financing, this high-cash flow asset is centrally located near major retail, entertainment, tech, and employment hubs in Silicon Beach, Culver City, Santa Monica, Beverly Hills, and Downtown LA.
Property Details
- Year Built
- 1965
- Stories
- 2
- Lot Size (sq. ft)
- 5,663 SF
- Units
- 4
Highlights
- Massive 5,224 sqft building offered at only $429/sqft and consisting of four spacious units: (2) 3Bed+2Bath and (1) 2Bed+1Bath!
- 3-bed "Owner's Unit" boasts a larger floorplan, an additional office/4th bedroom, a fireplace, and a front deck!
- On-site laundry room, (4) tandem parking spaces, gated entry, separate meters for gas and electric, and soft-story retrofit was completed in 2021!
- Currently collecting ~$12,000/month and ~$144,000/year with approximately 28% in rental upside via interior/exterior renovations!
- Highly desirable Palms neighborhood of West LA - centrally located near major retail, entertainment, tech, and employment hubs!
- OWNER OCCUPIED OPPORTUNITY - potential for a 3-bed unit to be delivered VACANT at close of escrow!
Nearby Properties
Similar Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].