3499 Sawtelle Boulevard

Los Angeles, CA, 90066

$8,000,000

$765 per ft²
$8,000,000
$765 per ft²
Active
Active
 - For Sale
carpenters-square
10,445 ft²
property_type
Multi-family
calendar
Built 1959
Located just minutes from the beach and tech hubs such as Silicone Beach, Playa Vista and Culver City, this 20 unit value add opportunity is a perfect choice for a value add investor looking to finish with a completely rehabbed building at a 5.7% cap rate on the Westside. With 16 vacancies, the property is ready for an investor to hit the ground running. By completely renovating the building, converting units and adding five to seven Accessory Dwelling Units (ADUs), the property has the ability to achieve a 20% IRR after a five year hold. The nine singles can be converted into one bedrooms. The ten one bedrooms can either be converted into an open floor plan or a den can be added. One of the one bedrooms can be converted into a two bedroom.An ADU specialist confirmed that five attached one bedroom ADUs can be added to the property for additional income without losing parking spaces. An additional two detached two bedroom ADUs can be built by filling in the pool and building them on the South side of the courtyard. Renovation costs, construction costs and even ADU quotes are included in the financials. Before and after photos as well as floor plans demonstrate how to reach the 20% IRR. ***Please contact us for an OM, please ask about our Condo Conversion OM as well.***
MLS ID:
21754878
Listed:
6/29/21
Updated:
10/21/21
Frontgate Real Estate
Dana & Jeff Luxury Homes

Interior Features

Kitchen Appliances
Refrigerator, Vented Exhaust Fan
Total Bedrooms
0
Total Bathrooms
0
Laundry Description
Common Area
Cooling
None
Heating
Wall Furnace

Exterior/Building Features

Lot Size
0.36 acres lot

Other Property Details

Area Name
C13 - Palms - Mar Vista
HOA Amenities
Pool
Attached Garage
No
Parking
Covered
County
Los Angeles
Pool
No
Pool Description
Community
Total Stories
2
Zoning
LAR3

 

Courtesy of Kelly Morgan, Keller Williams-Santa Monica

Based on information from California Regional Multiple Listing Service, Inc. as of 10/21/21. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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Data last updated 5:56 PM UTC, 10/21/21

Frontgate Real Estate
Dana & Jeff Luxury Homes
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