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4523 St Elmo Dr

Mid-City
Fourplex

Brand new construction fourplex in the hottest rental market in LA, Mid-City. This ultra-upscale property will be delivered 50% leased with tenants paying $6,200 and $4,595, making for an extraordinary cap rate of 5.34%! Comes fully loaded with EV charges, solar panels, washers and dryers, stainless steel appliances, blinds, and so much more! Between the unbeatable curb appeal & excellent mix of all 4 bed units, you'll want to act fast!

List Price:
Cap Rate:

GRM:

Bldg. Size:
Unit Mix:
Highlights:

$3,449,000
5.34% (current)
5.34% (pro forma)

14.38 (current)
14.38 (pro forma)

5,703 sqft
4x 4b/3.5b
Separately metered utilities
Sky-high cap rate
50% leased
Many additional apps in hand
No rent control
Washers/dryers provided
Proto Core™ control room
Solar panels
EV chargers
Stainless steel appliances
Ring doorbells
Nest thermostats
Blinds already installed
Prime Mid-City location
Unbeatable curb appeal
Super low maintenance

Click to View Photos

The Neighborhood

< 15-Minute Walk

Midtown Shopping Center, Hollywood Night Market, Planet Fitness, Five Guys, Pacific French Bakery, Spaccio Salumeria, Menchitas, Washington Irving Branch Library, Starbucks, , Roscoe's Chicken and Waffles, Olive Garden, Wingstop, Subway, Jamba Juice

< 10-Minute Drive

Sprouts, Starbucks, Target, Westside Boxing Club, Johnny's Pastrami, Pips on La Brea, L.A. Grind Coffee And Tea Bar, Pacific French Bakery, Tartine West Adams, Alta, Mizlala, Delicious Pizza, The Underground Museum, Vees Cafe, Infinity Room, Farmhouse Kitchen

< $10 Uber Ride

Downtown Culver City, Ivy Station, The Culver Steps, Trader Joes, Equinox, Amazon Studios, The Culver Hotel, Sony Pictures, Midtown Shopping Center, The Grove, LACMA, The Farmer’s Market, El Rey Theatre, Pasta Sisters,The Mint, Akasha, Public School, The Mandrake

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Submit your offers now!

  • No rent control!

  • Delivered 50% rented at outstanding rents of $4,595 and $6,200 + multiple apps in hand!

  • 5.34% cap rate- impossible to find in this market of 4% caps!

  • Premium new construction in the hottest rental market in LA, Mid-City.

  • Boasts extraordinary curb appeal. Between the high end materials, multi-dimensional design, and the lush landscaping, this property stands out above all other new builds!

  • Property comes FULLY LOADED with premium stainless steel kitchen appliances, Ring Doorbells, Nest thermostats, blinds, washers, and dryers, . Totally turnkey!

  • New construction fourplexes are in impossibly short supply right now, especially ones of this superior quality.

  • Each unit has its own Proto Core™ control room, consolidating maintenance systems.

  • Dream 1031 exchange opportunity. Ready to close ASAP!

  • Large windows everywhere you look, making each room extremely light and bright!

  • Enormous rear parking lot with 8 spaces.

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

  • With SB-8 in effect, we expect less fourplexes will be built, making properties like these an even more rare and hot commodity.

  • Moments from countless mixed-use developments such as Ivy Station (HBO headquarters), the Cumulus Development (Whole Foods), and the Culver Steps (Amazon Studios).