3625 Mentone Ave, Los Angeles, CA 90034

Description

Roque & Mark Co. is pleased to represent this well maintained 9-unit apartment building in the most desirable living area of Palms - north of Venice Blvd. and steps to restaurants, shopping, and downtown Culver City. Excellent unit mix consisting of (1) 3 beds + 2 baths, (3) 2 beds + 2 baths, (4) 1 bed + 1 bath, and (1) bachelor unit. The property is fully occupied and currently offered at a 11.3 GRM and 5.6% CAP rate with actual rents. Every unit has its own balcony or patio. Plenty of parking with 8 individual spaces and 10 total if used as tandem. There is an alley. All soft-story retrofitting and balcony inspections have been completed. Large building footprint with 8,102 sf of living area on an 8,259 sf lot. For investors, this is an opportunity to acquire a solid, well-located multifamily asset with lasting appeal and upside potential in an area known for high enduring desirability. This is a quiet street despite its close proximity to shops, cafes, and restaurants. Subject to City of Los Angeles Rent Stabilization.