The property is located in a charming pocket of Baldwin Hills, just East of the Cumulus Development on La Cienega and Jefferson. With trendy eateries, bars, shops, and iconic landmarks just minutes away, the property benefits from a positive trend in rental demand due to a shift from a workforce population to a tech and entertainment centered tenancy. It is comprised of 8 total units, with a desirable mix of 2+1 units averaging approximately 1,181 SF. The property is also equipped with 8 garages that open to a large alley and an attached laundry room, as well as tidy landscaping and classing 1950’s features throughout. The average current rents for the units are significantly below market rates, presenting an approximate 50% in NOI upside. With premium upgrades, an investor may be able to create a new market rate beyond the published market target. The 8 garages are an excellent potential candidate for ADU conversions. With its prime location in this special pocket of Baldwin Hills along with the distinctive features, overall condition, and considerable upside potential, this property is a standout choice.
Property Details
Price:
$2,025,000
MLS #:
24456499
Status:
Pending
Baths:
0
Address:
3638 Carmona Avenue
Type:
Residential Income
Neighborhood:
phhtparkhillsheights
City:
Los Angeles
Listed Date:
Oct 24, 2024
State:
CA
ZIP:
90016
Lot Size:
9,464 sqft / 0.22 acres (approx)
Year Built:
1951
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Schools
Interior
Appliances
Dishwasher, Microwave, Refrigerator
Heating
None
Interior Features
Ceiling Fan(s)
Exterior
Parking Features
Garage
Parking Spots
8.00
Stories Total
2
Financial
Map
Community
- Address3638 Carmona Avenue Los Angeles CA
- AreaPHHT – Park Hills Heights
- CityLos Angeles
- CountyLos Angeles
- Zip Code90016
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Courtesy of Kidder Mathews of California, Inc.. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
3638 Carmona Avenue
Los Angeles, CA
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