Sold
11265 PALMS Boulevard
Los Angeles CA, 90066
$9,900,000
$385.39 per sqft
Sold
25,688 sqft
Residential
Built in 1947
Listed by Saadia 'Sam' Liberow with Marcus & Millichap 818-212-2700
We are pleased to present 11265-75 Palms Boulevard, a 24-unit apartment building aptly named Palms Pointe Apartments. The property is located in the highly desirable Mar Vista sub-market on the Westside. 11265-75 Palms Boulevard sits on a nearly full acre of land and features an attractive mix of 2-bedroom and 3-bedroom units. With only ten (10) of the twenty-four (24) units renovated, this building presents a tremendous opportunity for a buyer to come in and rehab the remaining fourteen (14) units as they turnover. The previous owner was able to increase rents on the renovated units by nearly 100% after their extensive and high-quality upgrades. Palms Pointe is located just west of the 405 Freeway and is rather unique in that it is situated on an "island" with no adjacent neighbors, which allows for a level of privacy that tenants enjoy. Additionally, the property boasts a beautiful park-like setting with mature trees and separate private garages; there is even a sizeable dog park for the tenants to use with all of their pets! Furthermore, should you want to take advantage of the sizeable lot and pursue the potential to build even more units in the future. The property is zoned R3 and has the potential to allow up to 51 units (buyer to verify). Situated directly across the street from Mar Vista Recreation Center, the Property affords residents with extremely convenient access to nearly 20 acres of outdoor space along with sports, fitness, gathering, and cultural amenities. This proximity to such amenities certainly lends itself to higher rents, especially when the units have been rehabbed to their full potential. For residents looking for some entertainment, there are a plethora of local shopping and dining options very close by. Venice Boulevard is full of delicious local eateries, vibrant Sawtelle Japantown is just a few minutes away, and the bustling neighborhoods of Culver City, Westwood, Century City, and Beverly Hills are just a short drive from the property. If you are an investor looking for an asset with upside in a core Westside market in Los Angeles, look no further.
21111432
MLSⓇ ID
December 10, 2021
Listed
March 23, 2024
Updated
Map
11265 PALMS Boulevard
Los Angeles CA, 90066
Interior Features
Total Stories
0
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Wall Furnace
Exterior/Building Features
Lot Size
0.94 Acres
Other Property Details
Area Name
C13 - Palms - Mar Vista
Days on Market
122
Garage
Yes
Garage Spaces
17
Parking
Garage
Parking Total
55
View
No
County
Los Angeles
Pool
No
Zoning
LAR3
Buyer Agency Compensation
1.5%
Listing Contact: 818-212-2700
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/23/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 3/23/2024 at 1:32 AM UTC