3132 S Canfield Avenue

    Los Angeles (City), CA 90034
    • $2,815,000
    • STATUS: Active
    • ON SITE: 144 days
    • ID#: 19481858
    $2,815,000
    • 0
      BEDS
    • 0.18
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,239
      SQFT
    • $389
      $/SQFT
    Type:
    Multi-Family
    Built:
    1965
    County:

    School Ratings & Info

    Description

    We are pleased to announce the sale of 3132 S Canfield Avenue, a 7-unit multifamily property located in the Castle Heights area of Los Angeles, just blocks from the coveted neighborhoods Cheviot Hills, Palms, Pico - Robertson, and Beverlywood. The entire building consists of two- and three-bedroom units with spacious floorplans. A new owner can potentially add value to the property by recapturing the approximately 46% in rent upside, as current rents sit well below those of similar units in this submarket. A savvy investor may seek to upgrade unit interiors with high-end appointments, much like those found in the surrounding upscale neighborhoods. Units of similar age and amenities in the area have benefitted from moderate renovations, commanding rents above $3.00 per rentable square foot.Rancho Park and Hillcrest Country Club are just one mile from the property, while ArcLight Cinemas - Culver City and numerous shopping and dining destinations are within walking distance

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-11-17T00:28:38.107. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Rogers Realty Group/Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
    www.searchsocalrealestate.com/homes/96255492

    3132 S Canfield Avenue Los Angeles (City), CA 90034

    • Price: $2,815,000
    • Status: Active
    • ID#: 19481858
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.18
    Acres
    7,239
    SQFT
    $389
    $/SQFT
    1965
    Built
    Neighborhood:
    C09 - Beverlywood Vicinity
    County:
    Los Angeles
    Area:
    C09 - Beverlywood Vicinity
    Property Description
    We are pleased to announce the sale of 3132 S Canfield Avenue, a 7-unit multifamily property located in the Castle Heights area of Los Angeles, just blocks from the coveted neighborhoods Cheviot Hills, Palms, Pico - Robertson, and Beverlywood. The entire building consists of two- and three-bedroom units with spacious floorplans. A new owner can potentially add value to the property by recapturing the approximately 46% in rent upside, as current rents sit well below those of similar units in this submarket. A savvy investor may seek to upgrade unit interiors with high-end appointments, much like those found in the surrounding upscale neighborhoods. Units of similar age and amenities in the area have benefitted from moderate renovations, commanding rents above $3.00 per rentable square foot.Rancho Park and Hillcrest Country Club are just one mile from the property, while ArcLight Cinemas - Culver City and numerous shopping and dining destinations are within walking distance
    Exterior Features

    Lot Features Sprinklers None Lot Size Source Assessor Lot Size Units Square Feet Parking Features Covered Parking YN Yes

    Interior Features

    Laundry Features See Remarks

    Property Features

    Cap Rate 3.15 Gross Multiplier 17.95 Gross Operating Income 156788.00 Improvements Amount 632400 Land Value 1530000 Laundry YN Yes Net Operating Income 88542.00 Special Listing Conditions Standard Total Expenses 63583.00 Zoning Lar3

    Listing provided courtesy of Roderick 'Rick' Raymundo of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-11-17T00:28:38.107. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Rogers Realty Group/Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
     
    Rogers Realty Group/Berkshire Hathaway HomeServices California Properties
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    Ontario CA, 91762