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3499 Sawtelle Blvd

Los Angeles, CA 90066
  • $8,000,000
  • STATUS: Active Under Contract
  • ON SITE: 159 Days
  • MLS #: 21-754878
Under Contract
UPDATED: 34 min ago
$8,000,000
  • 11
    BEDS
  • 0.36
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 10,445
    SQFT
  • $766
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1959
County:

School Ratings & Info

Description

Located just minutes from the beach and tech hubs such as Silicone Beach, Playa Vista and Culver City, this 20 unit value add opportunity is a perfect choice for a value add investor looking to finish with a completely rehabbed building at a 5.7% cap rate on the Westside. With 16 vacancies, the property is ready for an investor to hit the ground running. By completely renovating the building, converting units and adding five to seven Accessory Dwelling Units (ADUs), the property has the ability to achieve a 20% IRR after a five year hold. The nine singles can be converted into one bedrooms. The ten one bedrooms can either be converted into an open floor plan or a den can be added. One of the one bedrooms can be converted into a two bedroom.An ADU specialist confirmed that five attached one bedroom ADUs can be added to the property for additional income without losing parking spaces. An additional two detached two bedroom ADUs can be built by filling in the pool and building them on the South side of the courtyard. Renovation costs, construction costs and even ADU quotes are included in the financials. Before and after photos as well as floor plans demonstrate how to reach the 20% IRR. ***Please contact us for an OM, please ask about our Condo Conversion OM as well.***

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-07T12:42:58.407. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.deserthouseseekers.com/homes/118847860
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3499 Sawtelle Blvd Los Angeles, CA 90066

  • Price: $8,000,000
  • Status: Active Under Contract
  • On Site: 159 Days
  • Updated: 34 min ago
  • MLS #: 21-754878
11
Beds
0
Baths
0
½ Baths
0.36
Acres
10,445
SQFT
$766
$/SQFT
1959
Built
Neighborhood:
Palms - Mar Vista
County:
Los Angeles
Area:
Palms - Mar Vista
Property Description
Located just minutes from the beach and tech hubs such as Silicone Beach, Playa Vista and Culver City, this 20 unit value add opportunity is a perfect choice for a value add investor looking to finish with a completely rehabbed building at a 5.7% cap rate on the Westside. With 16 vacancies, the property is ready for an investor to hit the ground running. By completely renovating the building, converting units and adding five to seven Accessory Dwelling Units (ADUs), the property has the ability to achieve a 20% IRR after a five year hold. The nine singles can be converted into one bedrooms. The ten one bedrooms can either be converted into an open floor plan or a den can be added. One of the one bedrooms can be converted into a two bedroom.An ADU specialist confirmed that five attached one bedroom ADUs can be added to the property for additional income without losing parking spaces. An additional two detached two bedroom ADUs can be built by filling in the pool and building them on the South side of the courtyard. Renovation costs, construction costs and even ADU quotes are included in the financials. Before and after photos as well as floor plans demonstrate how to reach the 20% IRR. ***Please contact us for an OM, please ask about our Condo Conversion OM as well.***
Exterior Features

Covered Parking 20 Lot Size Area 15750 Other Structures None Parking Garage Covered Parking Pool Description Community Pool YN Yes Total Parking 20

Interior Features

Baths Total 20.00 Cooling None Equipment Range/OvenRefrigeratorVented Exhaust Fan Heating Wall Laundry Community

Property Features

Assessed Total Value 1767371 Gross Income 516015 Gross Operating Income 500535 Like Units1 9 Like Units2 11 Net Operating Income 330730.00 Number Of Buildings 1 Number Of Units 20 Sale Type Standard Source Living Area Assessor Source Lot Size Area Assessor Total Annual Expense 169804 Type Of Units Apartments Year Built Source Assessor Zoning Lar3

Listing provided courtesy of Kelly Morgan DRE#01898026 of Keller Williams-Santa Monica.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-07T12:42:58.407. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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Zwemmer Realty Group | Keller Williams Realty
75486 Augusta Drive
Indian Wells CA, 92210