3189 Cheviot Vista Place Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90034
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 15,477 sqft
Price per Sqft $313
MLS Listing ID CL25532523
HOA Y/N No
Year Built 1973
Lot Size 0.274 Acres
Acres 0.27
Property Sub-Type Other
Property Description
We are pleased to present for sale 3189 Cheviot Vista Pl. in Palms Mar Vista of Los Angeles, CA. The offering consists of a 1973 built (LARSO) 21 unit value-add apartment building, not subject to the Measure ULA "Mansion Tax". The property has benefitted from a local family of conscientious operators and their portfolio is professionally managed by Lilly Property Management Co. A brand new $70,000 roof was installed last year. The mix of Studios (4), 1BR/1BA (16) and 2BR/1BA (1) units (ranging from 700 to 800 SF) cater towards a broad rental market. The Studios and 1BR's, which account for 95% of all units, may assist in keeping rents paced with the market during turnover. There is an on-site manager in Unit 104. The building is offered at a reasonable 5.50 CAP / 10.80 X. With approximately 40% rental upside, new ownership may be afforded a path towards a considerable 8.70 CAP / 7.85 X. Tenants will have access to an on-site laundry room, AC wall units, heating units, private patio, and 20 gated parking spaces + 1 uncovered space. Within close proximity is the E Station of the Metro Line in addition to the 10 Freeway National Blvd. off ramp directly next to the property. Also within close proximity is Downtown Culver City, Hayden Tract and Sony Pictures Studios. According to LA C
Location
State CA
County Los Angeles
Zoning LAR4
Interior
Heating Wall Furnace
Fireplace No
Laundry Community Facility,In Garage,Laundry Room
Exterior
View Y/N false
View None
Building
New Construction No
Others
Tax ID 4314026056