3406 Virginia Road

Los Angeles, CA 90016

$3,050,000
Price
17
Beds
16
Baths
8,342 Sq. Ft.
$366 / Sq. Ft.
8,342
Sq. Ft.
$366
per Sq. Ft.

Description

We are pleased to present a sixteen (16) unit apartment building located at 3406 Virginia Road in Los Angeles, California. The subject property is situated in a prime West Adams location, west of Crenshaw Boulevard and north of W Exposition Boulevard. Built in 1947, this property contains a good unit mix of fifteen (15) one-bedroom / one-bathroom units, and one (1) two-bedroom / one-bathroom unit. All units are currently occupied. This character, courtyard row style asset is gated and secure and...We are pleased to present a sixteen (16) unit apartment building located at 3406 Virginia Road in Los Angeles, California. The subject property is situated in a prime West Adams location, west of Crenshaw Boulevard and north of W Exposition Boulevard. Built in 1947, this property contains a good unit mix of fifteen (15) one-bedroom / one-bathroom units, and one (1) two-bedroom / one-bathroom unit. All units are currently occupied. This character, courtyard row style asset is gated and secure and features easily maintained landscaping while still having lovely curb appeal. The property is also right next to a nearly completed mixed-use office/retail building by Charles Company which will include a ground floor restaurant. Tenants will love being within a few miles of many trendy restaurants, nightlife, and entertainment options such as Highly Likely, Thinkspace Gallery, Harold & Belle's, Cinemark, Baldwin Hills Crenshaw Shopping Mall, and Rancho Cienega Recreation Center. The Expo/Crenshaw K-Line Metro Station is also conveniently located nearby offering residents quick and easy access to major employment hubs throughout Los Angeles. Positioned in an prime West Adams location, this offering presents an exceptional opportunity for an investor to capitalize on a character, asset with solid remaining rental upside potential in a submarket full of high profile new construction projects.
  1. Listed by Jason Tuvia • DRE #01772495 • Brokerage DRE #01238010 • Marcus & Millichap

Property Details for 3406 Virginia Road

Zoning
LACM
Style
Low Rise
Parcel Number
5046004036
Total Units
16.0
Living Area
8342
Source Living Area
Vendor Enhanced
Area
Park Hills Heights (PHHT)
Vacancy Rate
0
LISTING UPDATED: 01/07/2025 12:16 PM

Property Details for 3406 Virginia Road

StatusActive
MLS #24-456927
Days on Market79
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1947
Lot Size0.17 AC / 7,363 SF
CountyLos Angeles County

Building Information for 3406 Virginia Road

Stories2Residences-Year Built1947Building Size-Lot Size0.17 AC / 7,363 SF

Property Information for 3406 Virginia Road

Community / Development
Community / Development
  • Tax Mello Roos: No
  • Number Of Units: 16
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Market
  • View: Yes
  • View Description: City
  • View: City Lights
  • Security Features: Gated
  • Property Condition: Fixer, Repair Cosmetic
  • Water Heaters: Yes
  • Water Heater Features: Water Heater Unit
Contract Info
Contract Info
  • Probate: No
  • Financing: Submit
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $288,661
  • Net Operating Income: $192,735.00
  • Gross Income: $297,589
  • Gross Rent Multiplier: $10.25
  • Financial Info as Of: 10/25/2024
  • Vacancy Allow Dollar: $8,804.00
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 96640
Land / Lot Info
Land / Lot Info
  • Land Lease Type: Fee
  • Land Lease: No
  • Additional Parcel Number: No
  • Alley: Yes
  • Paved: Yes
  • Lot Acreage: 0.169
  • Lot Size Square Feet: 7363
  • Lot Features: Rectangular Lot
  • Lot Description: Lot Shape-Rectangular, Single Lot
  • Lot Location: City
Parking Details
Parking Details
  • Parking Garage: None
  • Total Parking: 0
  • Parking Features: None
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Air Conditioning
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Flooring: Wood
  • Equipment: Built-Ins
  • Common Walls: Attached
  • Laundry Equipment: Own
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis: No
  • Tennis Court: None
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 10-25-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,531.00
  • Unit Actual Rent: $22,961.00
  • Unit Projected Rent: $32,250.00
  • Like Units: 15
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,838.00
  • Unit Actual Rent: $1,838.00
  • Unit Projected Rent: $2,650.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $362,722.00
  • Assessed Improvement Percent: 38.57
  • Assessed Land Value: $577,587.00
  • Assessed Land Percent: 61.43
  • Assessed Total Value: $940,309.00

Property History for 3406 Virginia Road

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 3406 Virginia Road

Taxable ValueLand$589,138Additions$369,976Total$959,114
Tax Record2024$12,908 ($1,076 / month)
Home Facts
Total Finished SqFt8,342 SqFtAbove Grade Finished SqFt8,342 SqFtLot Size7,360 SqFtStyleMulti-Family Res (5+ Units)Year Built1947ZoningLACMCountyLOS ANGELESAPN5046-004-036

Schools near 3406 Virginia Road

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - K to 8
Rating
School
Distance
Virginia Road Elementary School
PublicK to 5

Johnnie Cochran, Jr., Middle School
Public6 to 8

Susan Miller Dorsey Senior High School
Public9 to 12

ISANA Nascent Academy
CharterK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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3406 Virginia Road is a multi-family home for sale in Los Angeles, CA 90016. This property was listed for sale on October 25, 2024 by Marcus & Millichap, it's currently listed at $3,050,000. It has been on the market for a total of 79 days and was last sold on September 24, 2014. This listing's school district is Los Angeles Unified School District. Nearby schools include Virginia Road Elementary School, Johnnie Cochran, Jr., Middle School and Susan Miller Dorsey Senior High School. 3406 Virginia Road is a 17-bed, 16-bath, 8,342 sqft multi-family home built in 1947.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Jason Tuvia, DRE #01772495

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.