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5.17% CAP, $175K PRICE REDUCTION & OWNER OCCUPIED OPPORTUNITY - 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 $425/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 6.13% CAP and 11.91 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.
Last Updated | 9/30/2024 | Year Built | 1965 |
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Community | Palms - Mar Vista | County | Los Angeles |
Price History
Prior to Sep 30, '24 | $2,245,000 |
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Sep 30, '24 - Today | $2,220,000 |
Additional Details
AIR | Wall/Window Unit(s) |
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AIR CONDITIONING | Yes |
AREA | Palms - Mar Vista |
FIREPLACE | Yes |
GARAGE | Carport, Tandem, Uncovered |
LOT | 5606 sq ft |
LOT DESCRIPTION | 0-1 Unit/Acre |
PARKING | Carport,Tandem,Uncovered |
POOL DESCRIPTION | None |
SEWER | Public Sewer |
STORIES | 2 |
WATER | Public |
ZONING | LAR3 |
Location
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