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3741 S Bentley Avenue , #1

Los Angeles (City), CA 90034
  • $1,600,000
  • STATUS: Active
  • ON SITE: 30 Days
  • ID#: SB22156851
UPDATED: 38 min ago
$1,600,000
  • 0
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1963
County:

School Ratings & Info

Listing Agent(s): Mark Ehlers of Imperial Real Estate (310-667-1469) and Stephen Garrett of The Agency(424-230-3700)


Description

Amazing opportunity to acquire well maintained six units in Palms / West Los Angeles/Culver City-adjacent area with significant upside. Less than 3 miles to the Marina and less than 4 miles to the sand at Venice Beach, and easy to the remainder of Southern California via nearby 405 and 10 freeways, this Property presents an in-demand location that will command increasing rents for the foreseeable future. With long-term below-market rents and nearly 70% in upside to market potential, this property presents a tremendous opportunity to reposition the leases into an instant value-add; or to redevelop and reconfigure the footprint on the 7,588sf lot to maximize income potential as a new construction building, which would be exempt from rent control (Buyer to verify). Purchaser may also be able to construct additional units on the property as-is, with possibility to approach adjacent lots for assembly and increased potential, as well as keep current income in place to help with carrying costs during entitlement process.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-15T23:27:38.77. 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 Villa Real Estate. Licensed in the State of California, USA.
www.thecharlieprice.com/homes/130985489
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3741 S Bentley Avenue , #1 Los Angeles (City), CA 90034

  • Price: $1,600,000
  • Status: Active
  • On Site: 30 Days
  • Updated: 38 min ago
  • ID#: SB22156851
0
Beds
0
Baths
0
½ Baths
0.17
Acres
1963
Built
Neighborhood:
C13 - Palms - Mar Vista
County:
Los Angeles
Area:
C13 - Palms - Mar Vista
Property Description
Amazing opportunity to acquire well maintained six units in Palms / West Los Angeles/Culver City-adjacent area with significant upside. Less than 3 miles to the Marina and less than 4 miles to the sand at Venice Beach, and easy to the remainder of Southern California via nearby 405 and 10 freeways, this Property presents an in-demand location that will command increasing rents for the foreseeable future. With long-term below-market rents and nearly 70% in upside to market potential, this property presents a tremendous opportunity to reposition the leases into an instant value-add; or to redevelop and reconfigure the footprint on the 7,588sf lot to maximize income potential as a new construction building, which would be exempt from rent control (Buyer to verify). Purchaser may also be able to construct additional units on the property as-is, with possibility to approach adjacent lots for assembly and increased potential, as well as keep current income in place to help with carrying costs during entitlement process.
Exterior Features

Lot Features 0-1 Unit/AcreRectangular LotValue In Land Number Of Separate Electric Meters 6 Open Parking Spaces 6 Parking Total 6 Pool Features None Pool Private YN No Property Attached YN No

Interior Features

Common Walls No Common Walls

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 2.92 Common Interest None Community Features Urban Disclosures Familial RelationRent Control Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 82788 Gross Scheduled Income 82788 Insurance Expense 0 Land Lease YN No Laundry Features Washer HookupGas Dryer Hookup Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New LoanConventional Net Operating Income 46804 New Construction YN No Number Of Separate Gas Meters 6 Number Of Separate Water Meters 0 Number Of Units Leased 6 Operating Expense 35984 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Actual Rent 7678.3 Trash Expense 0 Water Sewer Expense 0 Water Source Public Zoning Lar3



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-15T23:27:38.77. 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 Villa Real Estate. Licensed in the State of California, USA.
 
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Villa Real Estate
450 Newport Center Drive, Suite 100
Newport Beach CA, 92660
Listing Agent(s): Mark Ehlers of Imperial Real Estate (310-667-1469) and Stephen Garrett of The Agency(424-230-3700)