Sold
3650 3658 S Centinela Avenue
Los Angeles CA, 90066
$8,066,666
$321.79 per sqft
Sold
44 Beds
40 Baths
25,068 sqft
Residential
Built in 1958
Listed by Robert Renshaw with REMAX COMMERCIAL & INVESTMENT REALTY 310-802-2500
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.
23316999
MLSⓇ ID
October 1, 2023
Listed
March 23, 2024
Updated
Map
3650 3658 S Centinela Avenue
Los Angeles CA, 90066
Interior Features
Total Stories
2
Bedrooms
44
Total Bathrooms
40
Laundry Description
Common Area
Fireplace
No
Cooling
Yes
Cooling Description
Wall/Window Unit(s)
Heating
Yes
Heating Description
Wall Furnace
Exterior/Building Features
Lot Size
0.78 Acres
Other Property Details
Area Name
C13 - Palms - Mar Vista
Days on Market
7
Garage
No
Parking Total
41
View
No
County
Los Angeles
Pool
No
Zoning
LARD1.5
Buyer Agency Compensation
1.5%
Listing History
Date | Event | Price |
---|---|---|
12/8/2023 | Price Change | $8,066,666 -2% |
12/8/2023 | Sold | $8,066,666 |
10/10/2023 | Pending | — |
Listing Contact: 310-802-2500
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.
©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.
Data last updated on 3/23/2024 at 1:23 AM UTC