2821 Virginia Road, Los Angeles, CA 90016
Triplex · 2 recorded sales since 2019
Sold September 2022
Listing Agent: Elizabeth Maddox (DRE #01921425) · Listing Office: The 2-4 Unit Specialists · Contact: 818-859-7242 · Bought with: Elizabeth Maddox · The 2-4 Unit Specialists · MLS #BB22179674 · Source: CRMLS
About this triplex
2821 Virginia Rd is a brand new construction OPPORTUNITY ZONE triplex in prime West Adams minutes from Downtown Culver City and the Culver City Arts District! This is a rare opportunity to secure MAJOR tax benefits while owning a stunning 2022 triplex (MASSIVE freestanding SFR + duplex) with floorplans and finishes that are out of this world! Additionally, for only $60,000 extra ($2,750,00), the seller is willing to convert the downstairs floor and garage of the front unit into a 1 bed, 1 bath ADU, making for the cheapest fourplex in town. 2821 Virginia Rd currently consists of one 3-story 5 bed, 4.5 bath SFR and a duplex with two 3-story 4 bed, 4 bath townhomes that each have access to a spacious rear patio. We project a cap rate of gross monthly rent of $15,400 and a cap rate of 5.25%. The property boasts a 2-car garage for the front house and 4 partially covered spaces for the back units. If you enact the ADU option, the property’s unit mix will become: two 3-story 4 bed, 4 baths, one 4 bed, 3.5 bath (situated on floor 2 and 3 of the front building), and one 1 bed, 1 bath (situated on floor 1 + the garage of the back building). With an ADU, the property would benefit from 327 extra square feet of livable space. Plus, we project a 5.51% cap rate if you go this route! This impressive property boasts NO RENT CONTROL, separate meters for all utilities, well-designed open floorplans, a 2-car garage + 4 partially covered spots, gorgeous glass balconies, a large rear patio, high quality finishes, walk-in closets with built in shelving, laundry hookups in each unit, high-end modern kitchens, and large, stunning bathrooms. It will be delivered with a 1-year builder’s warranty. It is situated in red-hot West Adams minutes from several of the most ground-breaking mixed-use developments: Platform, the Culver City Steps (Amazon Studios headquarters), Ivy Station (HBO headquarters), and the Cumulus development (Whole Foods).
Listing description from the September 2022 sale, as reported to CRMLS.
Sale history
