3144 S Canfield Ave
Property Description
Rare opportunity to acquire The Canfield, a RSO exempt 30-unit trophy multifamily asset in the coveted Castle Heights neighborhood of Los Angeles' Westside. Built in 1988 exempt from LA RSO the property spans approximately 35,499 SF on a 22,097 SF LAR3 lot and features exceptionally spacious residences: 28 two-bedroom/two-bath units averaging 1,100 SF, one 1,800 SF three-bedroom/two-bath, and one one-bedroom, many with private balconies and updated modern interiors. Residents enjoy a resort-style courtyard with sparkling pool and sundeck, elevator, controlled access, on-site laundry, and subterranean parking. The location is the definition of prime Westside: a quiet residential enclave minutes to Culver City, Beverly Hills, Century City, and Santa Monica, a 2-minute drive to downtown Culver City's dining and creative scene, a 13-minute walk to the Metro E Line, and easy access to the 10 and 405 freeways. Tenant demand is anchored by Sony Pictures Studios, the Culver City creative economy, Century City, and Kaiser Permanente West LA, in a zip code with a $105,701 median household income, 76% renter occupancy, and a $2.1M median home price. The offering presents stable in-place income with a clear path to upside current rents average $3.06/SF against $3.37/SF at market, growing NOI from $806,482 to $928,178 and the cap rate from 4.89% to 5.63% with none of the rent-increase limitations of LA's pre-1979 housing stock. An exceptional opportunity for investors seeking scale, quality 1988 construction, and operational freedom in one of Los Angeles' most supply-constrained submarkets.
Broker Details
Estate Properties (310) 802-2285
MLS ID: C132252 State License Number: 02041641
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $16,500,000 |
| No. of Units: | 30 |
| Year Built: | 1988 |
| Lot Size: | 35,499.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $550,000 |
| Property Website | Click Here |
| Number of Bedrooms: | 58 |
| Number of Bathrooms: | 58 |
ID: 3yd-CLAWCA-26103187
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