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Multifamily

3915 Stevely Avenue

3915 Stevely Ave, Los Angeles, CA 90008

Listing Price: $2,595,000

Cap Rate
3.99%
Number of Units
12
Price/Unit
$216,250
Price/Gross SF
$294.35
Gross SF
8,816

Investment Overview

3915 Stevely Ave is an attractive 12-unit apartment community located in Baldwin Village just east of S La Brea Ave. The property consists of ten spacious onebedrooms and two two-bedrooms with a secure, gated entry. The living rooms are above average in size with large windows and there are thoughtful kitchen and bathroom layouts. The subject property features 15 total gated parking spaces (seven singles and four tandem) and a community laundry room with two washers and two dryers. Additionally, the building is separately metered for gas and electric. This is an ideal value-add investment opportunity with current rents below market and current loss-to-lease of 25% with a pro forma CAP rate of 6.12%. The property is being offered with attractive assumable financing (current loan must be assumed). The lender is ReadyCap with a 20-year loan at a fixed rate of 3.77% interest until 2024. The property is in the heart of Los Angeles and within minutes of major entertainment and employment hubs in Culver City, LA World Airport, DTLA and Inglewood. There is a significant affordability gap to home ownership in the 90008 zip code as the median home price in the direct area is approximately $871,913 and a typical monthly mortgage payment is considerably more than the average renovated rents at 3915 S Stevely Ave. Los Angeles World Airports (LAWA) is in the midst of a $14 billion Capital Improvement Program at Los Angeles International Airport (LAX), projected to last through 2023. The LAX modernization program is considered the largest public works program in the history of the City of Los Angeles. Additionally, Inglewood’s new sports and entertainment complex SOFI Stadium to create 12,000 full- and part-time jobs annually.

Investment Highlights

  • 3915 Stevely Ave is an attractive 12-unit apartment community located in Baldwin Village just east of S La Brea Ave.
  • The property consists of ten spacious one-bedrooms and two two-bedrooms with a secure, gated entry. The living rooms are above average in size with large windows.
  • This is an ideal value-add investment opportunity with current rents below market and current loss-to-lease of 25% with a pro forma CAP rate of 6.12%.

Exclusively Listed By

Listing Price: $2,595,000

Cap Rate
3.99%
Number of Units
12
Price/Unit
$216,250
Price/Gross SF
$294.35
Gross SF
8,816

Investment Highlights

  • 3915 Stevely Ave is an attractive 12-unit apartment community located in Baldwin Village just east of S La Brea Ave.
  • The property consists of ten spacious one-bedrooms and two two-bedrooms with a secure, gated entry. The living rooms are above average in size with large windows.
  • This is an ideal value-add investment opportunity with current rents below market and current loss-to-lease of 25% with a pro forma CAP rate of 6.12%.

Investment Overview

3915 Stevely Ave is an attractive 12-unit apartment community located in Baldwin Village just east of S La Brea Ave. The property consists of ten spacious onebedrooms and two two-bedrooms with a secure, gated entry. The living rooms are above average in size with large windows and there are thoughtful kitchen and bathroom layouts. The subject property features 15 total gated parking spaces (seven singles and four tandem) and a community laundry room with two washers and two dryers. Additionally, the building is separately metered for gas and electric. This is an ideal value-add investment opportunity with current rents below market and current loss-to-lease of 25% with a pro forma CAP rate of 6.12%. The property is being offered with attractive assumable financing (current loan must be assumed). The lender is ReadyCap with a 20-year loan at a fixed rate of 3.77% interest until 2024. The property is in the heart of Los Angeles and within minutes of major entertainment and employment hubs in Culver City, LA World Airport, DTLA and Inglewood. There is a significant affordability gap to home ownership in the 90008 zip code as the median home price in the direct area is approximately $871,913 and a typical monthly mortgage payment is considerably more than the average renovated rents at 3915 S Stevely Ave. Los Angeles World Airports (LAWA) is in the midst of a $14 billion Capital Improvement Program at Los Angeles International Airport (LAX), projected to last through 2023. The LAX modernization program is considered the largest public works program in the history of the City of Los Angeles. Additionally, Inglewood’s new sports and entertainment complex SOFI Stadium to create 12,000 full- and part-time jobs annually.

Exclusively Listed By

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