4523 St Elmo Drive, Los Angeles, CA 90019
Property · 2 recorded sales since 2020
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 #BB22138530 · Source: CRMLS
About this property
4523 St Elmo Dr. is a premium new construction fourplex in red-hot Mid-City a short walk to the Midtown Shopping Center and a few minute drive to Downtown Culver City! This ultra-upscale property will be delivered 50% leased with tenants paying $6,200 and $4,595, making for an extraordinary cap rate of 5.34%! Additionally, there are multiple applications in hand for the final 2 units (HUGE demand)! The property is comprised of two impressive 3-story buildings, each containing two 4 bedroom/3.5 bathroom townhome-style units with sleek, modern finishes. 4523 St Elmo isn’t your ordinary new construction property. It’s been elevated in every sense! It comes fully loaded with washers and dryers, solar panels on both buildings, EV chargers for each unit, stainless steel appliances, Nest Thermostats, Ring Doorbells, blinds, and most importantly, a Proto Core™ for each unit. The Proto Core™ is a control room that can be accessed from the exterior by maintenance workers, which consolidates all electrical, plumbing, heating, cooling, security, and WiFi systems into one space. This streamlined system makes maintenance a breeze on St Elmo- a dream come true for buyers looking for an easy to manage, high cash flow investment! In addition to the impressive return and designer appeal, buyers will enjoy other notable perks including: NO RENT CONTROL, 8 parking spaces in a large parking lot, tastefully designed drought tolerant landscaping, a 1-year builder’s warranty, brand new EVERYTHING, little to no maintenance, separate meters for gas, water & electric, and extreme desirability amongst renters for years to come. Located 10 minutes from Downtown Culver City and the countless hotspots in the area, including the trendy Helms Bakery District, the Culver City Steps (Amazon Studios headquarters), Ivy Station (HBO headquarters), and the Cumulus District (Whole Foods). With the large quantity of entertainment, tech, and creative jobs in the area, 4523 St Elmo attracts high quality professional tenants.
Listing description from the September 2022 sale, as reported to CRMLS.
Sale history
