Property listed by Compass, D. Timothy Byrne 310-820-0195
$3,995,000
This offering presents a rare multifamily investment opportunity consisting of two contiguous parcels (APNs 4314-015-011 and 4314-015-012) located in the desirable Palms / Mar Vista submarket of West Los Angeles. Situated on approximately 15,000 square feet of land, the property currently consists of two single family homes with 5 residential… Read More units. This configuration provides investors with multiple acquisition strategies, including redevelopment, value-add repositioning, or owner-user occupancy. From a redevelopment standpoint, the property is zoned R3 and located within a TOC Tier 3 Transit Oriented Community area, providing significant development potential. Based on current zoning regulations, the site allows for approximately 20 units by right, with the potential to increase density to approximately 30 to 40 units through the TOC Affordable Housing Incentive Program or California State Density Bonus law, subject to applicable affordable housing requirements. For value-add investors, the property offers immediate upside through renovation and repositioning of the existing seven-unit apartment building. Several units are expected to be delivered vacant at closing, allowing a buyer to capture market rents, modernize interiors, or explore the addition of Accessory Dwelling Units (ADUs) to further enhance long-term income potential. The property also presents a compelling owner-user opportunity, allowing a buyer to occupy one of the residences while generating rental income from the remaining units. The existing improvements include a four-unit property at 3444 Vinton Avenue, anchored by a front three-bedroom residence with three additional two-bedroom units, of which one 2 bedroom unit is currently vacant, and a California Craftsman home at 3450 Vinton Avenue with two additional one-bedroom units above a garage structure of which the house and one of the 1 bedroom units will be delivered vacant. With its combination of redevelopment potential, vacancy upside, and owner-user flexibility, the Vinton Avenue property represents a unique opportunity for investors, developers, and owner-users seeking long-term value in one of West Los Angeles' most established rental markets. Read Less
Listing Snapshot
Days Online
8
Last Updated
Beds
15
Square Ft.
6,104
Lot Size
0.34 Acres
Year Built
1923
MLS Number
26663973
Additional Details
Building
Built in 1923, Living area: 6104.0, 4 buildings, 2 stories, Levels: Two
Cooling
None
Garage
4 spaces
Income
Gross Income: $274,937, Net Operating Income: $177,064
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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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