Residential Income – 3724 Inglewood Blvd, Los Angeles, CA 90066, USA -001-11-30T00:00:00-08:00
The “Mar Vista 30” is a unique and significant multifamily investment property housing 30 large and open units situated on a huge 3/4 of an acre lot. Composed of 3,10 unit buildings, this offering has an ideal mix totaling 22 (2 + 1) and 8 (1 + 1) units with
3724 Inglewood Blvd, Los Angeles, CA 90066, USA
$10,000,000 USD
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Address3724 Inglewood, Los Angeles
Price$10,000,000
Close Price$10,450,000
Close DateMay 31, 2018
Year Built1955
Bedrooms Total0
Living Area26,200
Lot Size (Sq.Ft.)32,767
Listing ID18302916
StatusClosed
Parcel Number4234021024
ZoningLAR3
Special ConditionsStandard
Days on Market187

Detailed Description: The “Mar Vista 30” is a unique and significant multifamily investment property housing 30 large and open units situated on a huge 3/4 of an acre lot. Composed of 3,10 unit buildings, this offering has an ideal mix totaling 22 (2 + 1) and 8 (1 + 1) units with an impressive average unit size of 873 sq.ft per unit. Known today as Silicon Beach, the units on 3724,3730, and 3736 Inglewood Blvd are near to many of the most prominent tech companies in the nation. Facebook, Google, Snapchat, YouTube, Tesla (to name a few) all have significant facilities nearby. Given the scale, location, upside, and bankable features, this property is attractively priced at only $381.68 per square foot, nearly $30.00 per square foot below the average cost of $410.48 per square foot for recently sold comparable properties. Current rents comfortably align the property’s pricing to GRM and CAP rate expectations for this submarket, making this a financeable asset in a coveted Westside location.

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Address Information
Address3724 Inglewood, Los Angeles
CityLos Angeles
Location (MLS Area)C13 – Palms – Mar Vista
County Or ParishLos Angeles
State or ProvinceCA
Postal Code90066
Financial Information
Close Price$10,450,000
Close DateMay 31, 2018
Purchase Contract DateFebruary 7, 2018
Price per Square Foot$381.68
Price per Lot Square Foot$305.19
Special ConditionsStandard
Total Expenses$234,469
Gross Operating Income$586,501
Net Operating Income$355,332
Gross Multiplier16.95%
Improvements Amount$479,537
Land Value$258,781
Tax Year2000
Full Descriptions
Parcel Number4234021024
Detailed DescriptionThe “Mar Vista 30” is a unique and significant multifamily investment property housing 30 large and open units situated on a huge 3/4 of an acre lot. Composed of 3,10 unit buildings, this offering has an ideal mix totaling 22 (2 + 1) and 8 (1 + 1) units with an impressive average unit size of 873 sq.ft per unit. Known today as Silicon Beach, the units on 3724,3730, and 3736 Inglewood Blvd are near to many of the most prominent tech companies in the nation. Facebook, Google, Snapchat, YouTube, Tesla (to name a few) all have significant facilities nearby. Given the scale, location, upside, and bankable features, this property is attractively priced at only $381.68 per square foot, nearly $30.00 per square foot below the average cost of $410.48 per square foot for recently sold comparable properties. Current rents comfortably align the property’s pricing to GRM and CAP rate expectations for this submarket, making this a financeable asset in a coveted Westside location.
Laundry FeaturesSee Remarks
Cooling DescriptionSee Remarks
Parking FeaturesAssigned
Property parameters
Year Built1955
Living Area (Sq.Ft.)26,200
Lot Size (Sq.Ft.)32,767
Number of Buildings3
Number of Units Total30
ZoningLAR3
Stories Total2
Units Total30
Cap Rate (For Cash Payment Only)3.55
Listed withScott Rosenberg (RE/MAX ESTATE PROPERTIES)