3438 Potomac Avenue

Los Angeles, CA 90016

$4,495,000
Price
20
Beds
24
Baths
9,144 Sq. Ft.
$492 / Sq. Ft.
9,144
Sq. Ft.
$492
per Sq. Ft.

Description

3438 Potomac Ave is an ultra-premium NON RENT CONTROLLED, OPPORTUNITY ZONE, 2024 construction 6-unit building located in trendy West Adams, just a short walk from countless high-end shops, galleries, and notable eateries such as Highly Likely Cafe, Thinkspace Gallery, and The Bar at Johnny's! This luxury property boasts an impressive projected 5.38% cap rate and $321,600 in yearly gross rent, making it a dream come true for 1031 exchange and Opp. Zone buyers! The property is comprised of an ideal...3438 Potomac Ave is an ultra-premium NON RENT CONTROLLED, OPPORTUNITY ZONE, 2024 construction 6-unit building located in trendy West Adams, just a short walk from countless high-end shops, galleries, and notable eateries such as Highly Likely Cafe, Thinkspace Gallery, and The Bar at Johnny's! This luxury property boasts an impressive projected 5.38% cap rate and $321,600 in yearly gross rent, making it a dream come true for 1031 exchange and Opp. Zone buyers! The property is comprised of an ideal unit mix: two large 4-bedroom tri-level townhome-style units, and four equally impressive 3-bedroom tri-level townhome-style units. All units feature large open floor plans, ultra-trendy designs, huge balconies, upgraded finishes, and TONS of PARKING! Thanks to its A++ location, this will be an extremely easy-to-manage, easy-to-rent, high cash flow property for years to come. The property also includes 12 parking spots (8 garage spaces and 4 exterior spots), all secured behind an automatic gate. The excellent location, paired with upscale modern units, ensures quick and easy rentals. These premium townhomes offer unbeatable floorplans with extremely large, tenant-friendly kitchens and living rooms. Noteworthy features include designer tiles, modern glossy cabinets, high ceilings, huge closets, balconies off the living spaces and bedrooms, countless windows providing maximum natural light, wood-look waterproof vinyl, and more! In addition to a high return, buyers will enjoy other perks such as ample parking, tastefully designed drought-tolerant landscaping, a 1-year builder’s warranty, brand new EVERYTHING, low maintenance, separate meters for gas, water, and electricity, and extreme desirability among renters for years to come. This one-of-a-kind opportunity won't last long!
  1. Listed by Elizabeth Maddox • DRE #01921425 • Brokerage DRE #02230850 • Myunits.com Inc. • 818-850-8485
  2. Listed by Ian Maddox • DRE #02030205 • Brokerage DRE #02230850 • Myunits.com Inc.

Property Details for 3438 Potomac Avenue

Architectural Style
Modern
View
City Lights, Neighborhood
Parking Spaces Total
12
Private Pool
No
Cooling Type
Central Forced Air
Total Units
6.0
Building Type
Attached
Lot Size Source
Assessor
LISTING UPDATED: 11/18/2024 03:59 AM

Property Details for 3438 Potomac Avenue

StatusActive
MLS #BB24185573
Days on Market75
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2024
CountyLos Angeles County

Virtual Tour

Building Information for 3438 Potomac Avenue

Building/Complex3438 Potomac AveFloor-Stories3Residences-Pet Policy-Year Built2024Building Size-

Property Information for 3438 Potomac Avenue

Rental Info
Rental Info
  • Tenant Pays: All Utilities
Income / Expense / Tax Details
Income Details
  • Gross Income: $321,600
  • Gross Scheduled Income: $321,600
  • Vacancy Allowance: 12864
  • Vacancy Allowance Rate: 4
  • Gross Operating Income: $308,736
  • Net Operating Income: $241,993
  • Gross Multiplier: 13.98
  • Cap Rate: 5.38
Expense Details
  • Operating Expense: $66,743
  • New Taxes Expense: $53,913
  • Gardener Expense: $1,200
  • Fuel Expense: $0
  • Electric Expense: $1,000
  • Insurance Expense: $8,230
  • Maintenance Expense: $2,400
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $66,743
Tax / Assessment Info
  • Tax Area: 67
  • Tax Annual Amount: $1
  • Tax Tract Number: 7823
  • Tax Census Tract: 2200.00
  • CFD/Mello-Roos Fee: $324
  • Tax Lot: 200
Community / Development
Community / Development
  • Accessibility Features: None
  • Disability Access: None
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Appliances: Dishwasher, Freezer, Disposal, Gas Oven, Gas Range, Microwave
  • Equipment: Dishwasher, Freezer, Inside, Microwave
Exterior Features
  • Entry Location: front
  • Property Condition: Turnkey
  • View Description: City Lights
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: Back Yard, Landscaped
  • Number Of Units: 6
  • Land Lease: No
  • Land Lease Type: Fee
  • Road Surface Type: Paved
  • Road Frontage Type: City Street
  • Levels: One, Two, Three Or More
  • Water: Public
  • Sewer: Public Sewer
  • Electric: Standard
  • Water Source: Public
Parking Info
  • Garage Spaces: 8
  • Parking: Yes
  • Parking Garage: Garage - 1 Car, Garage - 2 Car, Gated
  • Uncovered Spaces: 4
  • Open Other Spaces Total: 4
  • Parking Garage Spaces: 8
  • Carport Spaces: 0
  • Parking Features: Garage Faces Front, Garage Faces Rear, Garage - Single Door, Garage - Two Door, Gated
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 4
  • Unit Type Baths Total: 4
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 4800
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 4
  • Unit Type Baths Total: 4
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 4800
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 4
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 4350
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 4
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 4350
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 4
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 4250
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 4
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 4250
  • Unit Type Type: 6
Unit Information
  • Number Of Units Leased: 0
  • Rent Controlled: No
  • Number Of Buildings: 3
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 6
  • Number With Dishwasher: 6
  • Number With Range: 6
  • Number With Refrigerator: 6

Property History for 3438 Potomac Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 3438 Potomac Avenue

Taxable ValueLand$832,320Additions$208,080Total$1,040,400
Tax Record2024$12,802 ($1,067 / month)
Home Facts
Beds2Total Finished SqFt936 SqFtAbove Grade Finished SqFt936 SqFtStories1Lot Size9,243 SqFtStyleSingle Family ResidenceYear Built1926ZoningLAR2CountyLOS ANGELESAPN5046-008-015

Schools near 3438 Potomac Avenue

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
Public - 9 to 12
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

View Park Continuation School
Public9 to 12

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.

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3438 Potomac Avenue is a multi-family home for sale in Los Angeles, CA 90016. This property was listed for sale on September 9, 2024 by Myunits.com Inc., it's currently listed at $4,495,000. It has been on the market for a total of 75 days and was last sold on October 22, 2021. 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. 3438 Potomac Avenue is a 20-bed, 24-bath, 9,144 sqft multi-family home built in 2024.

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 Myunits.com Inc., Elizabeth Maddox, DRE #01921425; Myunits.com Inc., Ian Maddox, DRE #02030205

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.