Description
3731 Glendon Ave presents a prime investment opportunity in the highly sought-after Palms neighborhood. This 6-unit multifamily property boasts a desirable unit mix of five 1-bedroom units and one studio, totaling 2,383 square feet on a spacious 4,717 square foot lot, zoned LAR3. The building has undergone recent renovations, featuring new windows, a freshly painted exterior, and new water heaters, ensuring it is well-maintained for potential tenants. Additionally, the property offers ample parking with six designated spaces.The location of this property is highly desirable, with the bustling Culver City only steps away, and the presence of major industry players such as Sony Studios, Amazon Studios, and Tik Tok in the area. The property is also conveniently located in proximity to the beach communities of Venice and Santa Monica, and the affluent neighborhoods of Rancho Park, Cheviot Hills, and Mar Vista. Furthermore, with the newly constructed Expo Line running through Palms, public transportation is readily available for tenants. This property presents a significant opportunity for investors, with an estimated 80%+ upside in gross rental income and 120% upside in net operating income.
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6BEDS
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0.11ACRES
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0BATHS
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01/2 BATHS
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2,383SQFT
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$399$/SQFT
School Ratings & Info
Description
3731 Glendon Ave presents a prime investment opportunity in the highly sought-after Palms neighborhood. This 6-unit multifamily property boasts a desirable unit mix of five 1-bedroom units and one studio, totaling 2,383 square feet on a spacious 4,717 square foot lot, zoned LAR3. The building has undergone recent renovations, featuring new windows, a freshly painted exterior, and new water heaters, ensuring it is well-maintained for potential tenants. Additionally, the property offers ample parking with six designated spaces.The location of this property is highly desirable, with the bustling Culver City only steps away, and the presence of major industry players such as Sony Studios, Amazon Studios, and Tik Tok in the area. The property is also conveniently located in proximity to the beach communities of Venice and Santa Monica, and the affluent neighborhoods of Rancho Park, Cheviot Hills, and Mar Vista. Furthermore, with the newly constructed Expo Line running through Palms, public transportation is readily available for tenants. This property presents a significant opportunity for investors, with an estimated 80%+ upside in gross rental income and 120% upside in net operating income.
Based on information from California Regional Multiple Listing Service, Inc. as of 2023-06-08T17:38:46.657. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Team Forss Realty Group. Licensed in the State of California, USA.