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3720 Midvale Avenue

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Address: 3720 Midvale Ave, Los Angeles, CA 90034, USA

California & West + Apartment Buildings

Created date: August 28, 2024

Date last updated: August 28, 2024

-Midvale is Currently Achieving a Healthy Income Stream of More than $20,000 in Scheduled Rent Per Month
-Select Units have Been Renovated with Upgraded Electrical Systems, Luxury Flooring, Stainless Steel Appliances, Large Private Patios, in-unit Washer/Dryers, & More. New Roof Completed in 2021
Located In a Highly Desirable Pocket of West LA with a -Walk Score of 81. Residents Enjoy Convenient access to Employment Centers, Retail & Entertainment.
-There is 22 Percent Remaining Rental Upside Through Turnover and Tactful Renovations
-44% of Units are Townhome Style Units that Feature Private Yards
-Current Ownership Has Attentively Maintained the Property Which Has Very Little Deferred Maintenance

Property Description

Do Not Walk the Property or Disrupt Tenants. Contact Listing Team for Property Showing Instructions. Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale 3720 Midvale Avenue, a nine-unit apartment community in Palms, an affluent residential neighborhood bordering Culver City. The subject property is located West of Overland Avenue & South of Palms Boulevard, ideally located a few blocks away from the I-10 Freeway and half a block North of Venice Boulevard allowing tenants convenient access throughout Los Angeles. Nestled between Beverly Hills, Century City, Marina Del Rey, Santa Monica and Venice, 3720 Midvale Avenue provides residents with easy access to major thoroughfares and the charm of Palms’ vibrant neighborhood. The area captures the essence of urban living providing tenants access to West LA, Downtown Culver City and strong employment opportunities as many of the largest tech companies including Google, Apple, Tesla and Amazon have leased space nearby. Situated on a 7,991 square foot lot, the property is comprised of five one-bedroom units and four two-bedroom townhome units. Current ownership has extensively renovated the property including a new roof & select units have been upgraded with new water heaters, new electrical systems, luxury flooring, stainless steel appliances, large private patios, in-unit washer/dryers, & more. Townhome units feature private yards that attract more demand and garner higher rents. 3720 Midvale Avenue provides investors with a rare opportunity to acquire a well-maintained asset with remaining value-add components in a desirable pocket of West Los Angeles. * Please refer to the Unit Configuration Summary on page 15 of the Offering Memorandum for further details.

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Key Property Information

Listing Status:	Available
Listing Type:	Highest & best offer
Property Types:	Apartment Buildings
Price:	$3,200,000
No. of Units:	9
Cap Rate:	5.18%
GRM /GIM:	13.22
Building Size:	7,229 Sq ft
No. of Stories:	2
Opportunity Zone:	No
Price per unit:	$355,556