$ 2,025,000
3650 Carmona AVE Los Angeles, CA 90016
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$ 2,025,000
Est. payment /mo
Active
3650 Carmona AVE Los Angeles, CA 90016
16 Beds
8 Baths
9,450 SqFt
UPDATED:
11/01/2024 03:18 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 9,450 sqft
Price per Sqft $214
MLS Listing ID 24456659
Bedrooms 16
HOA Y/N No
Year Built 1951
Lot Size 9,461 Sqft
Property Description
The property is located in a charming pocket of Baldwin Hills, just East of the Cumulus Development on La Cienega and Jefferson. With trendy eateries, bars, shops, and iconic landmarks just minutes away, the property benefits from a positive trend in rental demand due to a shift from a workforce population to a tech and entertainment centered tenancy. It is comprised of 8 total units, with a desirable mix of 2+1 units averaging approximately 1,181 SF. The property is also equipped with 8 garages that open to a large alley and an attached laundry room, as well as tidy landscaping and classing 1950's features throughout. The average current rents for the units are significantly below market rates, presenting an approximate 50% in NOI upside. With premium upgrades, an investor may be able to create a new market rate beyond the published market target. The 8 garages are an excellent potential candidate for ADU conversions. With its prime location in this special pocket of Baldwin Hills along with the distinctive features, overall condition, and considerable upside potential, this property is a standout choice.
Location
State CA
County Los Angeles
Area Phht - Park Hills Heights
Zoning LARD2
Interior
Interior Features Ceiling Fan(s)
Heating None
Fireplace No
Appliance Dishwasher, Microwave, Refrigerator, Dryer, Washer
Exterior
Garage Garage
Building
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5025006008
Special Listing Condition Standard
Listed by Scott Rosenberg • Kidder Mathews of California, Inc.