Los Angeles, CA 90016,3650 Carmona Avenue
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$2,025,000
Est. payment /mo
9,450 SqFt
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UPDATED:

11/01/2024 03:37 PM

Key Details

Property Type Commercial

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 9,450 sqft

Price per Sqft $214

MLS Listing ID CL24456659

HOA Y/N No

Year Built 1951

Lot Size 9,463 Sqft

Acres 0.22

Property Description

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.

Location

State CA

County Los Angeles

Area Listing

Zoning LARD

Interior

Heating None

Fireplace No

Appliance Dryer

Laundry Dryer, Washer

Building

New Construction No

Others

Tax ID 5025006008


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Bridge MLS
Listed by Scott Rosenberg • Kidder Mathews of California, Inc.

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Parisa Samimi

+1(510) 410-4050

Founder & Real Estate Broker | License ID: 01858122

Founder & Real Estate Broker License ID: 01858122

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3650 Carmona Avenue