3873 College Ave Culver City, CA 90232
Active
$2,800,000
11%
8 Units
16 Beds
17 Baths
8,912 Area(sq.ft.)
9,032 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 2.50 | No | $ 2,750 | $ 2,750 | $ 3,350 |
| Unit 2 | 7 | 2 | 2 | No | $ 2,591 | $ 18,140 | $ 22,400 |
| 2 | 8 | 16 | 17 | $ 20,887 | $ 129,730 | $ 160,150 |
| MLS #: | 24-430763 |
| Days On Market: | 103 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 314 |
| Price per unit: | $ 350,000 |
| Year Built: | 1973 |
Property Details
IMPROVED PRICING! We are pleased to present the opportunity to acquire 3873 College Avenue, an 8-unit multifamily investment in one of the most desirable submarkets in Los Angeles. The area around 3873 College Ave in Culver City offers a variety of amenities suitable for renters. The location is very walkable with a variety of shops and essential services within easy reach. This area also enjoys good transit connections and is very bikeable, enhancing mobility for residents without vehicles. The property currently features 8,912 square feet of gross rentable area, situated on a 9,029-square foot lot. The 8-unit building is composed of 7 two-bedroom/two-bathroom units and 1 Town-Home Style two-bedroom/two and one-half bathroom Owner's Unit. The property also offers gated parking for tenants. Culver City is a hub for tech and media companies, including several studios and digital media firms. The proximity to such companies makes it an attractive location for professionals working in these industries. This blend of convenient amenities and access to job opportunities makes 3873 College Ave an appealing choice for potential renters.Due to the property's premier location, 3873 College Avenue offers a unique opportunity to any investor looking to acquire a well-maintained asset with strong in-place rents in the heart of Culver City.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Vacancy Rate: | 1% |
| Gross Operating Income: | $ 251,883 |
| Total Annual Expense: | $ 89,253 |
| Net Operating Income: | $ 153,138 |
| Gross Annual Income: | $ 250,683 |
| Cap Rate: | 5.58% |
| Gross Rent Multiplier: | 11.17 |
| Actual Gross Rent: | $ 250,683 |
| Actual Rent Total: | $ 17,690 |
Structure
| Type of Units: | 2 |
| Buildings: | 1 |
| Levels: | Multi/Split |
Land & Parking
| Zoning: | CCR4* |
| Parking Garage: | Covered Parking, Gated, Garage - 4+ Car |
Interior
| AC/Cooling: | Wall Unit(s) |
| Equipment: | Garbage Disposal, Ceiling Fan |
| Heating: | Wall |
Exterior
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