3638 Carmona Avenue
Los Angeles, CA 90016
9450 sqft | 16 beds | 0.22 acres | #24456499
Description
The property is located in a charming pocket of Baldwin Hills, just East of the Cumulus Development on La Cienega and Jefferson. With trendy eateries, bars, shops, and iconic landmarks just minutes away, the property benefits from a positive trend in rental demand due to a shift from a workforce population to a tech and entertainment centered tenancy. It is comprised of 8 total units, with a desirable mix of 2+1 units averaging approximately 1,181 SF. The property is also equipped with 8 garages that open to a large alley and an attached laundry room, as well as tidy landscaping and classing 1950's features throughout. The average current rents for the units are significantly below market rates, presenting an approximate 50% in NOI upside. With premium upgrades, an investor may be able to create a new market rate beyond the published market target. The 8 garages are an excellent potential candidate for ADU conversions. With its prime location in this special pocket of Baldwin Hills along with the distinctive features, overall condition, and considerable upside potential, this property is a standout choice.
Property Details
- Property SubtypeResidentialIncome
- Property TypeMulti-Family
- InteriorCeilingFans
- CountyLos Angeles
- Original List Price$2,025,000
- MLS #24456499
- MLS #24456499
- Cost2025000
- Acres0.2173
- Square Feet9450
- Year Built1951
- Bedrooms16
- Stories2
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Scott Rosenberg (#CLW-X86373)
Listing Office: Kidder Mathews of California, Inc. (#CLW-X8241001)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
