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2911 S Palm Grove Ave
Los Angeles, CA 90016
Multifamily Property For Sale
·
3 Units
Investment Highlights
- Ideal unit mix consisting of (1) 2+1, (1) 3+1, and (1) 4+3 Units spread across 3,960 SF, with ADU potential (Buyer to Verify)
- Conveniently located in West Adams, in close proximity to several trendy coffee shops, restaurants, and metropolitan hubs
- With 2 of 3 Units delivered Vacant, this property is ideal for an owner/user or an investor that will have the opportunity to rent the units at market
Executive Summary
2911 S Palm Grove Ave offers a rare opportunity to purchase a triplex in a strong pocket of West Adams, with 2 of 3 units delivered VACANT. The property features a great mix of units, consisting of (1) Vacant 3 bed/1 Bath measuring at 1,100 Square Feet, (1) Vacant 4 bed/3 Bath measuring at 1,950 Square Feet, and (1) occupied 2 Bed/1 Bath measuring at just under 1,000 Square Feet. An owner-user can take advantage of the vacant units by occupying one unit while generating rental income from the remaining units, making the property an attractive opportunity for both investors and owner-occupants. Once fully leased, the property is expected to operate at a 5.85% Cap Rate, collecting $8,884 in total scheduled rent, based on market rents. Additionally, the property may offer the potential to construct ADUs (Buyer to Verify), creating further long-term value-add opportunity. The property is conveniently located in West Adams, in close proximity to Culver City, USC, Downtown Los Angeles, and major transportation corridors including the I-10 Freeway and Metro Expo Line.
Property Facts
| Price Per Unit | $579,279 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.91% | Lot Size | 0.12 AC |
| Gross Rent Multiplier | 11.73 | Building Size | 3,960 SF |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1930 |
| Property Subtype | Apartment | ||
| Zoning | LAR2 - Two-Family Dwellings | ||
| Price Per Unit | $579,279 CAD |
| Sale Type | Investment |
| Cap Rate | 5.91% |
| Gross Rent Multiplier | 11.73 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 3,960 SF |
| No. Stories | 2 |
| Year Built | 1930 |
| Zoning | LAR2 - Two-Family Dwellings |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | - | - |
Property Taxes
| Parcel Number | 5057-026-028 | Improvements Assessment | $354,519 CAD |
| Land Assessment | $1,410,985 CAD | Total Assessment | $1,765,504 CAD |
Property Taxes
Parcel Number
5057-026-028
Land Assessment
$1,410,985 CAD
Improvements Assessment
$354,519 CAD
Total Assessment
$1,765,504 CAD
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