0 (133).JPG

2804 S Palm Grove

West Adams
Duplex (or Duplex + ADU)

A brand new construction luxury duplex made up of two massive freestanding SFR’s: one 3-story 5 bed, 4 bath home & one 2-story 4 bed, 3.5 bath home. As is, we project a cap rate of 4.66%. AS A BONUS, the seller is willing to convert the garage & bottom floor of the back unit to a 1b/1b ADU at no cost to the buyer! With that addition, we expect the cap rate will jump to a whopping 5.22%! NO RENT CONTROL + dream owner occupier opportunity + 1031 exchange perfection!

List Price:

Cap Rate:

GRM:

Bldg. Size:

Unit Mix:


Highlights:

$2,150,00 *can be delivered with or without an ADU at this price
4.66% (pro forma without ADU)
5.22% (pro forma if ADU added)

16.00 (pro forma without ADU)
14.57 (pro forma if ADU added)

4,006 sqft (as is without ADU)
4,373 sqft (if ADU added)

Without ADU: 1x 5b/4b, 1x 4b/3.5b
With ADU: 1x 4b/3.5b, 1x 4b/3b, 1x 1b/1b
ADU can be added free of charge

Exceptional cap rate
Ideal owner occupier situation
Perfect 1031 exchange option
Massive floorplans
Two freestanding homes
Two 2-car garages
Upscale finishes
Prime location near Culver City
No rent control!

Click to View Photos

The Neighborhood

>10-Minute Walk

Cento Pasta Bar, Highly Likely Cafe, Sweet E's Bake Shop, Hollywood Night Market, High Fidelity Records, All Power Books, Honey Bee’s House of Breakfast, Menchitas, Roscoe’s Chicken & Waffles, Simply D’s LA

>5-Minute Drive

Sprouts, Starbucks, Target, Planet Fitness, Spaccio Salumeria, Pacific French Bakery, Tartine West Adams, Alta, Mizlala, Delicious Pizza, The Underground Museum, Vees Cafe, Infinity Room, Farmhouse Kitchen, Open Face Food Shop

>$10 Uber Ride

Plaform, Ivy Station, Culver City Steps, Cumulus District (Whole Foods), Trejo’s Tacos, Downtown Culver City, Met Him at a Bar, All Season Brewing Company, République Café Bakery & Restaurant, Mandrake, The Grove, LACMA

0 (178).JPG
 
0 (16).JPG

Submit your offers now!

  • Seller is willing to convert the bottom floor of the back unit to a 1b/1b ADU at no cost to the Buyer!

  • 4.66% pro forma cap rate with potential to achieve a 5.22% cap rate with a no cost ADU addition.

  • The average price per square foot of nearby new construction duplexes and triplexes is $663.49. This is priced to sell at $536.69 (or $491.65 with the ADU added)!

  • 2 freestanding homes in the hottest market in LA!

  • Premium units with expansive, open floorplans and upscale, designer finishes.

  • Ideal property for owner occupiers! Live the life of ultimate luxury in one of the 2 gorgeous homes while having tenants in the other SFR pay the mortgage!

  • No rent control!

  • Dream 1031 exchange opportunity. Ready to close ASAP!

  • All units separately metered for gas, electric AND water! Microscopic expenses!

  • Moments from several ground-breaking mixed-use development projects such as Ivy Station (HBO headquarters), Platform, the Helms Bakery District, the Cumulus Development (Whole Foods), and the Culver Steps (Amazon Studios).

  • Each unit comes with its own private 2-car garage, a huge selling point for tenants!

  • Minutes to the Culver City Arts District and heart of Culver City!

  • Great way to obtain easy, passive income!