Active

3807 W Adams Blvd

Los Angeles CA, 90018

$3,695,000


$377.89 per sqft

Active

22 Beds

13 Baths

9,778 sqft

Multi-family

Built in 1939

3807-3815 W Adams Blvd is one of the most unique available properties that's currently on the market and will serve great for a 1031 Exchange Buyer, or for someone to add a great generational asset to their portfolio in highly sought after West Adams. 12 existing units on a large 12,992 SF lot & desirably zoned LAR3 for future lot value. There are in-place RTI's and approved plans from the city to immediately begin building (2) 3 Bed/2 Bath ADU's in the back above the garages to make the property 14 units, add additional RSF, and will allow the Buyer to immediately capture rental upside and add significant cash flow. There is great construction/bridge financing available to help execute this vision & upside with I/O monthly payments and light pre-pay. The building has stunning 1930's architecture & great curb appeal with large units & a top-heavy unit mix with all 1+1's, 2+1's, 3+1's and a 3+2, and NO Studios, Singles or Bachelors. Garage parking for 12 cars in the back which is a huge premium for tenants in a thinly parked neighborhood. Great in-place income metrics (no ADU's) with a 13.11 GRM and 5.20% cap rate on current rents, and a 7.96 GRM and 9.28% cap rate at stabilized rents. Approximately 40% rental upside excluding ADU additions, and roughly 80% rental upside when including the ADU additions. On-site laundry room for tenants to use and bring in monthly income. Tenants enjoy being in the heart of the West Adams Corridor with easy access to all of the recent retail, restaurant and mixed-use developments that has made this one of the most desirable pockets in LA. Great mobility being less than 1 block to/from the 10 Fwy entrance/exit, and less than 1 mile from the Expo/Crenshaw Metro Station which will allow riders to get to LAX on the newly built K Line. Close proximity to the recently built Cumulus Development, USC, Exposition Park (George Lucas Museum, LA Coliseum, BMO Stadium, LA Science Center, Natural History Museum), Crypto.com Arena, Nokia Theatre and LA Live! For a full copy of the OM, you can click here to access the Dropbox folder that contains it: https://www.dropbox.com/scl/fi/l12fdqjn9utan3gy3jp22/3807-3815-W-Adams-Blvd-OM.pdf?rlkey=is5iyypth32r9x9pc93fyafmo&dl=0

23-303933

MLS ID

August 23, 2023

Listed

December 3, 2023

Updated

Map

3807 W Adams Blvd
Los Angeles CA, 90018

Interior Features

Total Stories

2


Bedrooms

22 Beds


Bathrooms

13 Baths


Laundry Description

Community, Laundry Area


Fireplace

No


Cooling

Yes


Cooling Description

Window Unit(s), Ceiling Fan


Heating

Yes


Heating Description

Wall

Exterior/Building Features

Lot Size

0.3 acres


Exterior Features

None

Other Property Details

Days on Market

99


Garage

Yes


Garage Spaces

12


Parking

Garage - 2 Car, Garage Is Detached


Parking Total

12


View

No


County

Los Angeles


Pool

No

Courtesy of Jonathan Rawson with Avenue Realty Group
Listing Contact: 310-869-9137 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Aspire Los Angeles shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2023 Combined L.A./Westside MLS. All rights reserved.

Data last updated 12/3/2023

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