3824 Keystone Ave

01-19-2022
02-22-2022

3824 Keystone Av, Culver City, CA 90232

  • Year-One 4.76% Cap Rate
  • Brand New Sewer Line
  • Ample Parking & Storage On-Site For All Units
  • On-Site laundry Facilities
  • Less Than 1 Mile From Downtown Culver City & 1 Block To Sony Studios
  • Potential To Add An ADU Alongside Retrofit Work
  • Buyer To Be Responsible For Earthquake Retrofit

Property Description

14.28 GRM and 4.76% Cap Rate!! Located 1 block to Sony Pictures Studio and less than one mile to Downtown Culver City, 3824Keystone is an 8 unit property with on-site parking and laundry. Originally built in 1960, this two-story buildingfeatures (1) 1 Bed+1 Bath + large yard, (2) 2 Bed+1 Bath, (3) 2 Bed+1.5 Bath, (1) 3 Bed/2 Bath and (1) Bachelor / Guestroom. The property features a new sewer line, and 7 parking spaces. Regarded as one of the highest demand rental markets in Los Angeles due to its Central + Western location and proximity to major entertainment and tech employers, this prime asset is well positioned to be a terrific source of cash-flow and accelerated appreciation. There is the ability to achieve a 5.87% cap rate by adding an ADU in the front carport - plans have been submitted to the city for both this ADU + seismic retrofit - to be Buyer's responsibility.

Unit Mix

Description No. of Units Sq ft. Avg. Monthly Rent
1 + 1 + Yard 1 1 $ 3,267
2 + 1.5 3 1 $ 3,267
2 + 1 1 1 $ 630
3 + 2 1 1 $ 3,975
Studio 1 1 $ 1,350
2 + 1 1 1 $ 3,158

Key Property Information

Listing Status
Sold
Price
$ 3,995,000
Sales price
$ 3,900,000
No. of Units
8
Cap Rate
4.76%
GRM / GIM
14.28
Average Occupancy
87%
Year Built
1960
Building Size
6,441 Sq ft
Lot Size
6,668 Sq ft
No. of Stories
2
APN
4208-008-010
Zoning Code
LAR3 TOC 3
No. of Parking Spots
7
Opportunity Zone
Off
Price per unit
$ 499,375
Closing Date

Financial Details

Income/Expense Info
Actual
Gross Income
$ 274,420
Effective Gross Income
$ 274,420
Operating Expenses
$ 84,173
Net Operating Income
$ 190,247
View broker details
Sign in to use the inquiry form

34.018797, -118.40522