Sold
3499 Sawtelle Boulevard
Los Angeles CA, 90066
$8,000,000
$765.92 per sqft
Sold
10,445 sqft
Unknown
Built in 1959
Listed by Kelly Morgan with KW Advisors 310-482-2200
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.***
21754878
MLSⓇ ID
June 30, 2021
Listed
February 10, 2024
Updated
Map
3499 Sawtelle Boulevard
Los Angeles CA, 90066
Interior Features
Total Stories
2
Appliances
Refrigerator, Vented Exhaust Fan
Laundry Description
Common Area
Fireplace
No
Cooling
No
Cooling Description
None
Heating
Yes
Heating Description
Wall Furnace
Exterior/Building Features
Lot Size
0.36 Acres
Other Property Details
Area Name
C13 - Palms - Mar Vista
Days on Market
155
Garage
No
Parking
Covered
Parking Total
20
View
No
County
Los Angeles
Pool
No
Pool Features
Community
Zoning
LAR3
Buyer Agency Compensation
1.25%
Listing Contact: 310-482-2200
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 2/10/2024. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 2/10/2024 at 6:55 AM UTC