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$ 1,450,000
Est. payment | /mo
10 Beds
9 Baths
2,406 SqFt
$ 1,450,000
Est. payment | /mo
10 Beds
9 Baths
2,406 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 2,406 sqft
Price per Sqft $602
MLS Listing ID 26850191
Bedrooms 10
HOA Y/N No
Year Built 1965
Lot Size 4,321 Sqft
Property Description
We are proud to present 3711 S. Western Avenue, a rare opportunity to acquire a fully vacant nine-unit multifamily investment property, formerly operated as a motel. Ideally positioned in the vibrant Exposition Park submarket, the property sits just blocks from the University of Southern California and only steps from the Expo/Western Metro Station, making it a prime location for students, commuters, and young professionals alike. Originally built in 1965, this wood-frame and stucco property rests on a raised foundation and offers approximately 2,406 square feet of rentable space on a 4,320 square foot LAC2-zoned lot with hotel/motel use. The asset has been thoughtfully improved over the years for long-term durability and efficiency. A comprehensive 2004 renovation delivered upgraded electrical systems and new copper plumbing throughout, both vertical and horizontal, while a 200-amp solar panel system installed in 2018 enhances energy efficiency and reduces utility costs. The building has also been structurally reinforced and upgraded to meet current city codes and regulations. The property features an attractive unit mix of eight studio units with kitchenettes and one spacious 2-bedroom + 1-bathroom unit. Market rents are approximately $1,595 per month for the studios and $2,375 per month for the two-bedroom, representing a potential gross income of $15,135 per month once fully leased. Delivered 100% vacant, the asset offers a new owner a rare blank slate to establish market rents from day one with no existing tenancies to navigate. Priced at a current 10% cap rate and a 7.9x gross rent multiplier, 3711 S. Western Avenue presents an exceptional, high-yield cash-flow opportunity in one of Los Angeles' most dynamic and transit-connected submarkets, just minutes from USC, Exposition Park, and Downtown LA.
Location
State CA
County Los Angeles
Area Phht - Park Hills Heights
Zoning LAC2
Interior
Flooring Tile
Fireplace No
Appliance Refrigerator, Dryer, Washer
Exterior
Parking Features Gated, Private
Total Parking Spaces 6
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5041024027
Special Listing Condition Standard
Listed by Davis Saadian Keller Williams Hollywood Hills #01921748
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