3132 S Canfield Avenue

    Los Angeles (City), CA 90034
    • $2,725,000
    • STATUS: Closed
    • ON SITE: 340 days
    • MLS #: 19-481858
    Sold - 01/22/2020
    $2,725,000
    SOLD - 01/22/2020
    • 17
      BEDS
    • 0.18
      ACRES
    • 12
      BATHS
    • 0
      1/2 BATHS
    • 7,239
      SQFT
    • $0
      $/SQFT
    Type:
    Multi-Family
    Built:
    1965
    County:

    School Ratings & Info

    Description

    We are pleased to announce the sale of 3132 S Canfield Avenue, a 7-unit multifamily property located in the Castle Heights area of Los Angeles, just blocks from the coveted neighborhoods Cheviot Hills, Palms, Pico - Robertson, and Beverlywood. The entire building consists of two- and three-bedroom units with spacious floorplans. A new owner can potentially add value to the property by recapturing the approximately 46% in rent upside, as current rents sit well below those of similar units in this submarket. A savvy investor may seek to upgrade unit interiors with high-end appointments, much like those found in the surrounding upscale neighborhoods. Units of similar age and amenities in the area have benefitted from moderate renovations, commanding rents above $3.00 per rentable square foot.Rancho Park and Hillcrest Country Club are just one mile from the property, while ArcLight Cinemas - Culver City and numerous shopping and dining destinations are within walking distance

    Sold by Roderick 'Rick' Raymundo BRE#01357019 of Marcus & Millichap.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-05-31T14:42:11.67. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.jelmbergteam.com/homes/96253640

    3132 S Canfield Avenue Los Angeles (City), CA 90034

    • Price: $2,815,000
    • Status: Closed
    • Updated: 38 min ago
    • MLS #: 19-481858
    17
    Beds
    12
    Baths
    0
    ½ Baths
    0.18
    Acres
    7,239
    SQFT
    $0
    $/SQFT
    1965
    Built
    Neighborhood:
    Beverlywood Vicinity (C09)
    County:
    Los Angeles
    Area:
    Beverlywood Vicinity (C09)
    Property Description
    We are pleased to announce the sale of 3132 S Canfield Avenue, a 7-unit multifamily property located in the Castle Heights area of Los Angeles, just blocks from the coveted neighborhoods Cheviot Hills, Palms, Pico - Robertson, and Beverlywood. The entire building consists of two- and three-bedroom units with spacious floorplans. A new owner can potentially add value to the property by recapturing the approximately 46% in rent upside, as current rents sit well below those of similar units in this submarket. A savvy investor may seek to upgrade unit interiors with high-end appointments, much like those found in the surrounding upscale neighborhoods. Units of similar age and amenities in the area have benefitted from moderate renovations, commanding rents above $3.00 per rentable square foot.Rancho Park and Hillcrest Country Club are just one mile from the property, while ArcLight Cinemas - Culver City and numerous shopping and dining destinations are within walking distance
    Exterior Features

    Parking Features Covered Parking Parking Spaces Total 7

    Interior Features

    Cooling Type Air Conditioning Heating Type Other Interior Features Other Total Floors 2 Unit Furnished01 Unfurnished Unit Furnished02 Unfurnished Unit Furnished03 Partially Unit Furnished04 Partially Unit Furnished05 Partially Unit Furnished06 Partially Unit Furnished07 Partially Unit Furnished08 Partially Unit Furnished09 Partially Unit Furnished10 Partially Unit Furnished11 Partially Unit Furnished12 Partially Unit Furnished13 Partially Unit Number Of Bath01 1.5 Unit Number Of Bath02 2.0 Unit Number Of Bed01 2 Unit Number Of Bed02 3

    Property Features

    Adjusted Gross Income 152125.00 Assessed Improvement Value 632400.00 Assessed Land Value 1530000.00 Cap Rate 3.15 Country United States Of America Expense Total Annual 63583.00 Gross Operating Income 156788.00 Gross Rent Multiplier 17.95 Hoa YN N Legal Disclosures No Property Assessments Lot Size Source Public Records Net Operating Income 88542.00 Number Of Buildings 1 Special Conditions Standard Sale Square Footage Source Public Records Unit Monthly Rent01 1815.00 Unit Monthly Rent02 1897.00 Unit Projected Total Monthly Rent01 9980.00 Unit Projected Total Monthly Rent02 8985.00 Unit Total Monthly Rent01 7260.00 Unit Total Monthly Rent02 5693.00 Unit Type01 4 Unit Type02 3 Units Total In Complex 7 Zoning Lar3

    Listing provided courtesy of Roderick 'Rick' Raymundo DRE#01357019 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-05-31T14:42:11.67. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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