Investment Overview

Marcus & Millichap is pleased to present to market the rare opportunity to acquire a portfolio of 12 units on three contiguous parcels in Los Angeles’ Palms neighborhood. The offering boasts a great location at 3704, 3710 and 3714 Glendon Avenue, less than a block north of Venice Boulevard and a Ralph’s grocery store, a half-mile from Sony Studios, surrounded by numerous major development projects, proximate to downtown Culver City’s popular entertainment and major employers, and just four miles to Venice Beach. The average household income within one mile exceeds $110,000. The portfolio comprises 3704 Glendon Avenue, a single-story triplex, 3710 Glendon Avenue, a two-story building with six units, and 3714 Glendon Avenue, which has a one-bedroom home in the front and a rear duplex with garages. Together, the buildings have a mix of two two-bedroom units, nine one-bedroom units, and a bachelor unit. All buildings feature on-site parking, units separately metered for gas and electric, and laundry hook ups. Current rents offer a new investor 35 percent rental upside, making this a great investment opportunity in a popular and growing market. Furthermore, a new investor may want to consider redevelopment; up to 36 units may be built on the three contiguous parcels by utilizing low income density bonuses (buyer to verify).