1714 3rd Avenue, Los Angeles, CA 90019

About this property

I am pleased to offer for sale a six-unit apartment community located at 1714 3rd Avenue. The subject property is located just south of Venice Boulevard within the Mid-City sub-market in a dense infill pocket of Los Angeles. The property has 26% remaining rental upside through unit renovations. The property is priced to an in-place 5.05% CAP rate with remaining upside to a 7.01% CAP and is attractively priced at $199,167 per unit. The continued gentrification of the surrounding area along with the value-add potential for a new owner to continue renovating the additional two units and achieve superior future returns moving forward make 1714 3rd Avenue an excellent acquisition opportunity.

Listing description from the May 2021 sale, as reported to CRMLS.

Sale history

$1,160,000

Sold May 2021 · listed $1,195,000, on market February 2021 · MLS #21693764 · Source: CRMLS

Listing Agent: Sean Rosenzweig · Listing Office: Marcus & Millichap · Contact: 213-943-1800 · Bought with: Sean Rosenzweig · Marcus & Millichap

$795,000

Sold May 2017 · on market February 2017 · MLS #17205830 · Source: CRMLS

Listing Agent: Sean Rosenzweig · Listing Office: Marcus & Millichap · Contact: 213-943-1800 · Bought with: Sean Rosenzweig · Marcus & Millichap

$390,000

Sold January 2013 · listed $409,000, orig. $419,000, on market September 2012 · MLS #12623787 · Source: CRMLS

Listing Agent: Jason Flashman · Listing Office: Keller Williams-Santa Monica · Contact: 310-482-2200 · Bought with: Jason Flashman · Keller Williams-Santa Monica

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