2825 S Sepulveda Boulevard, Los Angeles, CA 90064
Property
Sold January 2024
Listing Agent: C. Wolf Baschung (DRE #01369850) · Listing Office: MW Real Estate · Contact: 213-927-2113 · Bought with: C. Wolf Baschung · MW Real Estate · MLS #23321599 · Source: CRMLS
About this property
Prime West LA location and excellent value-add opportunity! This 18-unit Palms multifamily asset offers savvy investors significant upside potential through its unique layout, below-market rents, and ADU development options. Acquired by a university focused on academics rather than profits, this property has been undermanaged for years. As a result, at least 4 units will be delivered vacant a major advantage in rent-controlled Los Angeles. Bring your expertise to unlock immense value by increasing rents to market rates. With an ideal mix of 4 bachelors*, 10 one-bedrooms, 4 two-bedrooms, and 1 three-bedroom unit (*1 non-conforming bachelor) the property caters perfectly to LA's high demand for studios and one-bedrooms. The 3 garages present a low-cost, high-reward ADU conversion opportunity. Adding 2x 207 sq ft units at $1,750 per month each could provide over $600,000 in additional property value! Explore options to optimize and improve. This boutique 10,860 sq ft building includes desirable amenities like abundant parking and sits on a spacious 15,140 sq ft lot. The prime Palms location provides walkable access to restaurants, shopping, entertainment, and quick freeway access. LA's strong multifamily fundamentals, with rising population and shrinking household sizes, further enhance the opportunity. Don't miss this rare chance to acquire an underperforming property primed for optimization to its full potential. Bring your vision to unlock immense upside in the heart of desirable West LA!
Listing description from the January 2024 sale, as reported to CRMLS.
Sale history