Mid-City
Fourplex
A gorgeously updated, designer fourplex in red-hot Mid City minutes from Downtown Culver! This pride-of-ownership property boasts massive units with amazing floorplans that blend the character of the 1920's with upscale modern elements! The current cap rate is an outstanding 4.13%- and the building comes with massive upside. We conservatively project a pro forma cap rate of 5.70%.
List Price:
Cap Rate:
GRM:
Bldg. Size:
Unit Mix:
Highlights:
$1,850,000
4.13% (current)
5.70% (pro forma)
16.81 (current)
12.87 (pro forma)
4,892 sqft
4x 2b/1b
Designer remodel
Stainless steel appliances
Upscale, modern kitchens
Enormous units
Renovated bathrooms
Washers/dryers provided
Wonderful existing tenants
Massive upside
Unbeatable price per SF
Prime Mid-City location
Large back parking lot
Click to View Photos
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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
Submit your offers now!
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MASSIVE UPSIDE! Potential 5.70% cap rate!
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The building has been fully renovated and features upscale modern kitchens and bathrooms!
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Strong current return of 4.13% in a market of 3% cap rates!
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Gorgeous units that blend the charm and character of the 1920’s with upscale modern elements!
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Priced at only $378 per SF in a market with comps averaging $472 per SF
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Boasts wonderful tenants that pay on time!
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In a premium location, minutes on foot to Sprouts, Target, the Midtown Shopping Center & an unlimited supply of trendy restaurants and shops!
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Dream 1031 exchange opportunity!
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All units are extremely spacious (1,223 SF) and feature unbeatable open floorplans.
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Washer/dryers in each unit!
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Stainless steel kitchen appliances in ALL units!
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Large windows everywhere you look, making each room extremely light & bright!
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Enormous rear parking lot with 4 spaces, a garden + patio area, and storage.
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All units have front and rear entrances.
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Moments from countless mixed-use developments such as Ivy Station (HBO headquarters), the Cumulus Development (Whole Foods), & the Culver Steps (Amazon Studios).