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 #:
24456659
Status:
Pending
Baths:
0
Address:
3650 Carmona Avenue
Type:
Residential Income
Neighborhood:
phhtparkhillsheights
City:
Los Angeles
Listed Date:
Oct 24, 2024
State:
CA
ZIP:
90016
Lot Size:
9,463 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
0.00
Financial
Map
Community
- Address3650 Carmona Avenue Los Angeles CA
- AreaPHHT – Park Hills Heights
- CityLos Angeles
- CountyLos Angeles
- Zip Code90016
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3650 Carmona Avenue
Los Angeles, CA
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