3711 S Western Avenue,Los Angeles, CA 90018
Los Angeles, CA 90018
Description
We are proud to present 3711 S. Western Avenue, a rare opportunity to acquire a fully vacant nine-unit multifamily investment property, formerly operated as a motel. Ideally positioned in the vibrant Exposition Park submarket, the property sits just blocks from the University of Southern California and only steps from the Expo/Western Metro Station, making it a prime location for students, commuters, and young professionals alike. Originally built in 1965, this wood-frame and stucco property rests on a raised foundation and offers approximately 2,406 square feet of rentable space on a 4,320 square foot LAC2-zoned lot with hotel/motel use. The asset has been thoughtfully improved over the years for long-term durability and efficiency. A comprehensive 2004 renovation delivered upgraded electrical systems and new copper plumbing throughout, both vertical and horizontal, while a 200-amp solar panel system installed in 2018 enhances energy efficiency and reduces utility costs. The building has also been structurally reinforced and upgraded to meet current city codes and regulations. The property features an attractive unit mix of eight studio units with kitchenettes and one spacious 2-bedroom + 1-bathroom unit. Market rents are approximately $1,595 per month for the studios and $2,375 per month for the two-bedroom, representing a potential gross income of $15,135 per month once fully leased. Delivered 100% vacant, the asset offers a new owner a rare blank slate to establish market rents from day one with no existing tenancies to navigate. Priced at a current 10% cap rate and a 7.9x gross rent multiplier, 3711 S. Western Avenue presents an exceptional, high-yield cash-flow opportunity in one of Los Angeles' most dynamic and transit-connected submarkets, just minutes from USC, Exposition Park, and Downtown LA.
Details
| MLS # | 26850191 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1965 |
| Days On Site | 91 |
| Listing Provided By | Keller Williams Hollywood Hills | Davis Saadian |
Features
| Bed(s) | 10 |
|---|---|
| Bath(s) | 9 |
| SQ Feet | 2,406 |
| Story(s) | 2 |
| Units | 9 |
| Building(s) | 1 |
| Zoning | LAC2 |
| Acreage | 0.10 |
Interior
| Appliances | Refrigerator, Dryer, Washer |
|---|
Parking
| Parking Features | Gated, Private |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90018 |
| Area | PHHT Park Hills Heights |
| Listing VS Median (in 90018) | |
Price: $1,450,000 low | high Med: $1,297,000 sqft: 2,406 low | high Med: 3,242 $ / sqft: $603 low | high Med: $400 On site: 91 low | high Med: 76.5 | |
Market Activity 90018
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90018 |
| Area | PHHT Park Hills Heights |
| Listing VS Median (in 90018) | |
Price: $1,450,000 low | high Med: $1,297,000 sqft: 2,406 low | high Med: 3,242 $ / sqft: $603 low | high Med: $400 On site: 91 low | high Med: 76.5 | |
 | $1,749,0001744 W 36th PlaceLos Angeles, CA 90018 |