Los Angeles, CA 90066,3650 3658 S Centinela AVE
Los Angeles, CA 90066,3650 3658 S Centinela AVE
Los Angeles, CA 90066,3650 3658 S Centinela AVE
Los Angeles, CA 90066,3650 3658 S Centinela AVE
Los Angeles, CA 90066,3650 3658 S Centinela AVE
Los Angeles, CA 90066,3650 3658 S Centinela AVE
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$8,066,666

$8,200,000

1.6%
Est.Price: ?

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Est. payment /mo

44 Beds

40 Baths

25,068 SqFt


SOLD DATE : 12/08/2023

Key Details

Sold Price $8,066,666

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Square Footage 25,068 sqft

Price per Sqft $321

MLS Listing ID 23316999

Sold Date 12/08/23

Bedrooms 44

HOA Y/N No

Year Built 1958

Lot Size 0.780 Acres

Property Description

Only $205K per door for prime Westside! We are pleased to present for sale a generational multi-family portfolio on the famed Westside of world-renowned Los Angeles. The 58 apartment units are spread across two properties that have been owned by the same family for more than six decades. They can be sold individually or collectively. The largest of the assets comprises 40 units across four side-by-side buildings in the trendy and gastronomically noteworthy Mar Vista neighborhood. Built in 1958, 3650-3658 S Centinela comprises four sister buildings sitting side-by-side on two large parcels along Centinela Boulevard. The buildings were constructed in the low-rise, garden style architecture typical of the era and are situated around charming, landscaped courtyards. There is on-site parking for 41 cars as well as two laundry facilities with owned machines. The submarket of Mar Vista is sought-after on the Westside for its attractiveness to a wide variety of renters. Young professionals appreciate the area's top-tier shopping, dining, and entertainment options while young families seek out its high level of safety and its quality public schools. From an investment standpoint, the property offers significant opportunity. Current rents average $2.05 per square foot while prevailing market rents for renovated units are in the range of $3.75 per square foot. This means a comprehensive rehabilitation and renovation plan would yield the savvy investor enormous income gains. The two parcels at Centinela each with significant surface parking in the rear may provide ample ADU opportunities as well.

Location

State CA

County Los Angeles

Area C13 - Palms - Mar Vista

Zoning LARD1.5

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplace No

Laundry Common Area

Exterior

Total Parking Spaces 41

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 4248032030

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Robert Renshaw • REMAX COMMERCIAL & INVESTMENT REALTY
Bought with Robert Renshaw • REMAX COMMERCIAL & INVESTMENT REALTY
agent-avatar

+1(951) 225-2964

dillon@dillonhallrealtor.com

27465 Jefferson Ave, Temecula, California, 92590

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