3326 S Canfield Ave 9 Unit Apartment Building $3,442,985 CAD ($382,554 CAD/Unit) 5.07% Cap Rate Los Angeles, CA 90034

NAI Capital Commercial is pleased to present 3326 S Canfield Ave,a pride of ownership multifamily property in Castle Heights, one of Los Angeles’ most desirable areas. Originally constructed in 1959, the approximately 6,032 SF building rests on an approximately 0.18 AC (8,003 SF) lot. The property has been very well maintained and features two levels of one bed, one bath units, with thirteen private parking spaces plus ample street parking. Tenants enjoy spacious private balconies, individual wall heaters and separate window AC units, as well as nicely manicured landscaping. Approximately half of the units have been updated in the last five years, featuring new appliances, vinyl flooring, and remodeled interiors. Units are separately metered for utilities. Parking consists of three tuck unders and three tandem open spaces at the front of the building, and seven open parking spaces at the rear of the property.
Savvy investors will enjoy a stable income stream in a highly desirable area of Los Angeles. It also has a small office that could be converted to a bachelor unit for additional income. The spacious, well lit units have attractive floor plans, and benefit from the meticulous attention of long term private client ownership plus professional management.
Recent capital improvements include a new roof, several new HVAC units, and copper plumbing.
Castle Heights is a tranquil and upscale community on the west side of Los Angeles. With a low population density, mature trees and picturesque streets, the Castle Heights area gives a quiet neighborhood feel while also offering proximity to a vibrant urban lifestyle. The high-rise office buildings and luxury retail of Century City are just to the neighborhood’s north. Beverly Hills, Culver City and West L.A. are all blocks away, and the area has convenient access to downtown L.A. and Santa Monica as well. The property has a Walk Score of 82 – Very Walkable, and enjoys easy accessibility via car thanks to its location adjacent to the 10 Freeway at National Blvd.