3655 Motor Ave new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90034
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 10,050 sqft
Price per Sqft $562
MLS Listing ID 25532519
Bedrooms 18
Year Built 2006
Lot Size 7,263 Sqft
Acres 0.1674
Property Sub-Type Multi-Family
Property Description
We are pleased to present for sale 3655 Motor Ave. in Palms Mar Vista of Los Angeles, CA. The offering consists of a 2006 built (defaults to AB-1482) 12 unit apartment building with townhouse-style units. The property has benefitted from a local family of conscientious operators and their portfolio is professionally managed by Lilly Property Management Co. The equal mix of 1BR/1.5BA (6) and 2BR/2.5BA (6) units (ranging from 800 to 900 SF) cater towards a broad rental market. The 1BR's, which account for 50% of all units, may assist in keeping rents paced with the market during turnover. The building is offered at a reasonable 4.90 CAP / 13.40 X with a stabilized 5.20 CAP / 12.90 X. Tenants will have access to in-unit washer/dryers, central HVAC, individual water heaters, private patios, rooftop decks and 22 gated parking spaces. Within close proximity is the E Station of the Metro Line in addition to the 405 and 10 Freeways. Also within close proximity is Downtown Culver City, Hayden Tract and Sony Pictures Studios. According to LA County Planning 2023, Palms Mar Vista had a total population of 112,000 people with an average household income of $105,000. 65% of the population were renters. The offering presents an ideal turn-key opportunity of operational stability with consistent cash flow and predictable long term appreciation. Furthermore, offering potential ADU avenues for the new owner to explore (buyer to verify). The property will make a strong addition to any investor's portfolio whether they're in acquisition mode or simply looking for an immediate and quality 1031 solution. Property is subject to AB-1482. As of May 2025 there are two (2) 1BR/1.5BA vacancies. No other units will be delivered vacant by Seller upon close of escrow, except those occurring naturally. Property to be sold in as-is condition. Please DO NOT walk the property or disturb the tenants. Text/email LA for OM. Showing upon an accepted offer. Please submit proof of funds and pre-approval with offer.
Location
State CA
County Los Angeles
Area Palms - Mar Vista
Zoning LAC2
Rooms
Other Rooms None
Interior
Heating Central
Cooling Central
Equipment Ceiling Fan, Dishwasher, Garbage Disposal, Range/Oven, Refrigerator
Laundry In Unit
Exterior
Parking Features Assigned, Controlled Entrance, Covered Parking, Gated, On street, Private, Side By Side, Tandem
Garage Spaces 22.0
Pool None
Amenities Available None
Waterfront Description None
View Y/N No
View None
Building
Level or Stories Three Or More, Multi/Split
Others
Special Listing Condition Standard