4309 W Adams Blvd
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4309 W Adams Blvd
12 Unit Block of Flats £3,274,912 (£272,909/Unit) 4.50% Net Initial Yield Los Angeles, CA 90018
Investment Highlights
- Fully renovated property and tenants at market rents mean a long-term stable investment for any new owner
- Turnkey property offers strong cash flow with a healthy $2.65 rent per SF and $186,016 NOI in flourishing West Adams
- Qualified for Opportunity Zone tax deferral for any savvy investor with upcoming capital gains
- Demonstrated demand for the privacy of a smaller building, dedicated parking and dual-entrance units
- Multiple value-add opportunities: add 4-6 ADU units for up to +/- 3,000 SF or build up to 7 floor of mixed use for approx. 31,800 SF
- By-right development potential of up to 7 total floors and approx. 31,800 SF mixed use building using TOD Tier 4 and Crenshaw Corridor Specific Plan
Executive Summary
A turnkey 12-unit multifamily asset, 4309 W Adams Blvd is an ideal 1031 exchange upleg. Long-term stable investment offers robust market rents and a fully renovated property. The new owner will generate strong rents at a healthy $2.65/SF from day one as well as benefit from long-term appreciation in a rapidly elevating neighborhood. Add up to an additional +/-3,000 SF by building four ADUs in the rear of the generously sized lot. From James Beard-nominated Chef Keith Corbin of Alta Adams, the always buzzy Tartine and Mizlala restaurants, to CIM’s numerous residential, commercial, and office developments, the neighborhood’s energy is positive and electric. There is demonstrated demand for newly renovated dual-entrance units in smaller secure buildings with dedicated parking. Centrally located between Culver City and Downtown LA, the subject property offers financial and development incentives to the savvy investor, whether tax deferment within an Opportunity Zone or 7-floor by-right development potential as a TOD Tier 4 site in the Crenshaw Corridor Specific Plan.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £3,274,912 | Building Class | B |
| Price Per Unit | £272,909 | Lot Size | 0.25 AC |
| Sale Type | Investment | Building Size | 8,850 SF |
| Net Initial Yield | 4.50% | Number of Floors | 2 |
| No. Units | 12 | Year Built | 1954 |
| Property Type | Residential | Parking Ratio | 0.9/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | £3,274,912 |
| Price Per Unit | £272,909 |
| Sale Type | Investment |
| Net Initial Yield | 4.50% |
| No. Units | 12 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.25 AC |
| Building Size | 8,850 SF |
| Number of Floors | 2 |
| Year Built | 1954 |
| Parking Ratio | 0.9/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Kitchen
- Oven
- Range
- Tub/Shower
- Window Coverings
Site Amenities
- 24 Hour Access
- Controlled Access
- Public Transportation
- Individual Locking Bedrooms
- Smoke Detector
Walk Score ®
Very Walkable (78)
PROPERTY TAXES
| Parcel Number | 5059-005-005 | Improvements Assessment | £531,050 (2024) |
| Land Assessment | £981,775 (2024) | Total Assessment | £1,512,826 (2024) |
PROPERTY TAXES
Parcel Number
5059-005-005
Land Assessment
£981,775 (2024)
Improvements Assessment
£531,050 (2024)
Total Assessment
£1,512,826 (2024)
zoning
| Zoning Code | LAC2-1-SP TOC Tier 4 |
| LAC2-1-SP TOC Tier 4 |
-
Nicole Lu -
Maher Commercial Realty
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4309 W Adams Blvd
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