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    3499 Sawtelle Blvd

    Los Angeles, CA 90066
    • $8,000,000
    • STATUS: Active
    • ON SITE: 84 days
    • MLS #: 21-754878
    UPDATED: 12 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 2021-09-23T16:43:02.583. 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.desertarealuxuryhomes.com/homes/118847860
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    3499 Sawtelle Blvd Los Angeles, CA 90066

    • Price: $8,000,000
    • Status: Active
    • Updated: 12 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 2021-09-23T16:43:02.583. 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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    The Sandi Phillips Team | Compass
    74199 El Paseo, Suite 200
    Palm Desert CA, 92260