Sold
Listed By:
Robert Renshaw with REMAX COMMERCIAL & INVESTMENT REALTY;
Sold By:
REMAX COMMERCIAL & INVESTMENT REALTY
Address
3650 3658 S Centinela Avenue, Los Angeles, CA
Price
$ 8,066,666
Property Attributes
  • MLS#23316999
  • TypeMulti-Family
  • CountyLOS ANGELES
  • CityLos Angeles
  • Zip90066
  • Style
  • Price$ 8,066,666
  • Bedrooms44
  • Full Bathrooms40
  • Half Bathrooms0
  • Sqr Footage25068
  • Lot Size0.78 Acres
Data Source:
California Regional MLS (CRMLS)
Property Description

Only $205K per door for prime Westside! We are pleased to present for sale a generational multi-family portfolio on the famed Westside of world-renowned Los Angeles. The 58 apartment units are spread across two properties that have been owned by the same family for more than six decades. They can be sold individually or collectively. The largest of the assets comprises 40 units across four side-by-side buildings in the trendy and gastronomically noteworthy Mar Vista neighborhood. Built in 1958, 3650-3658 S Centinela comprises four sister buildings sitting side-by-side on two large parcels along Centinela Boulevard. The buildings were constructed in the low-rise, garden style architecture typical of the era and are situated around charming, landscaped courtyards. There is on-site parking for 41 cars as well as two laundry facilities with owned machines. The submarket of Mar Vista is sought-after on the Westside for its attractiveness to a wide variety of renters. Young professionals appreciate the area's top-tier shopping, dining, and entertainment options while young families seek out its high level of safety and its quality public schools. From an investment standpoint, the property offers significant opportunity. Current rents average $2.05 per square foot while prevailing market rents for renovated units are in the range of $3.75 per square foot. This means a comprehensive rehabilitation and renovation plan would yield the savvy investor enormous income gains. The two parcels at Centinela each with significant surface parking in the rear may provide ample ADU opportunities as well.

Price History
10/2/2023 Listed $8,200,000

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 90066

Price
AVG $4.16M
$8.07M