3873 College Avenue

Culver City, CA 90232

$2,800,000
Price
16
Beds
17
Baths
8,912 Sq. Ft.
$314 / Sq. Ft.
8,912
Sq. Ft.
$314
per Sq. Ft.

Description

Improved pricing! We are pleased to present the opportunity to acquire 3873 College Avenue, an 8-unit multifamily investment in one of the most desirable submarkets in Los Angeles. The area around 3873 College Ave in Culver City offers a variety of amenities suitable for renters. The location is very walkable with a variety of shops and essential services within easy reach. This area also enjoys good transit connections and is very bikeable, enhancing mobility for residents without vehicles. The...Improved pricing! We are pleased to present the opportunity to acquire 3873 College Avenue, an 8-unit multifamily investment in one of the most desirable submarkets in Los Angeles. The area around 3873 College Ave in Culver City offers a variety of amenities suitable for renters. The location is very walkable with a variety of shops and essential services within easy reach. This area also enjoys good transit connections and is very bikeable, enhancing mobility for residents without vehicles. The property currently features 8,912 square feet of gross rentable area, situated on a 9,029-square foot lot. The 8-unit building is composed of 7 two-bedroom/two-bathroom units and 1 Town-Home Style two-bedroom/two and one-half bathroom Owner's Unit. The property also offers gated parking for tenants. Culver City is a hub for tech and media companies, including several studios and digital media firms. The proximity to such companies makes it an attractive location for professionals working in these industries. This blend of convenient amenities and access to job opportunities makes 3873 College Ave an appealing choice for potential renters. Due to the property's premier location, 3873 College Avenue offers a unique opportunity to any investor looking to acquire a well-maintained asset with strong in-place rents in the heart of Culver City.
  1. Listed by Chandler Rockwell • DRE #02080782 • Brokerage DRE #00748543 • Fred Leeds Asset Group Inc.
  2. Listed by Blayne Pacelli • DRE #01364537 • Brokerage DRE #00858724 • Rodeo Realty

Property Details for 3873 College Avenue

Zoning
CCR4*
Parcel Number
4208022029
Total Units
8.0
Living Area
8912
Source Living Area
Vendor Enhanced
Area
Culver City (C28)
Vacancy Rate
1
Lot Size Area
9032
LISTING UPDATED: 11/25/2024 03:54 PM

Property Details for 3873 College Avenue

StatusActive
MLS #24-430763
Days on Market105
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1973
Lot Size0.21 AC / 9,032 SF
CountyLos Angeles County

Building Information for 3873 College Avenue

Stories-Residences-Year Built1973Building Size-Lot Size0.21 AC / 9,032 SF

Property Information for 3873 College Avenue

Community / Development
Community / Development
  • Number Of Units: 8
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 1
  • Type Of Units: 2
Contract Info
Contract Info
  • Disclosures: Rent Control
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $251,883
  • Net Operating Income: $153,138.00
  • Gross Income: $250,683
  • Cap Rate: 5.58%
  • Gross Rent Multiplier: $11.17
  • Actual Annual Gross Rent: $250,683.00
  • Actual Rent Total: $17,690.21
  • Vacancy Allow Percent: 2.50%
  • Total Annual Expense: 89253
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2073
  • Lot Size Square Feet: 9032
Parking Details
Parking Details
  • Parking Garage: Covered Parking, Gated, Garage - 4+ Car
  • Total Parking: 0
  • Parking Features: Covered, Gated
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling Type: Wall Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Garbage Disposal, Ceiling Fan
  • Interior Features: Ceiling Fan(s)
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 08-21-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $2,750.00
  • Unit Actual Rent: $2,750.00
  • Unit Projected Rent: $3,350.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,591.00
  • Unit Actual Rent: $18,140.00
  • Unit Projected Rent: $22,400.00
  • Like Units: 7
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $574,827.00
  • Assessed Improvement Percent: 69.9
  • Assessed Land Value: $247,490.00
  • Assessed Land Percent: 30.1
  • Assessed Total Value: $822,317.00

Property History for 3873 College 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 3873 College Avenue

Taxable ValueLand$252,439Additions$586,323Total$838,762
Tax Record2024$14,121 ($1,177 / month)
Home Facts
Total Finished SqFt8,912 SqFtAbove Grade Finished SqFt8,912 SqFtLot Size9,029 SqFtStyleMulti-Family Res (5+ Units)Year Built1973ZoningCCR4*CountyLOS ANGELESAPN4208-022-029

Schools near 3873 College Avenue

This home is within Culver City Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 12
Rating
School
Distance
La Ballona Elementary School
PublicK to 5

Culver City Middle School
Public6 to 8

Culver City High 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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3873 College Avenue is a multi-family home for sale in Culver City, CA 90232. This property was listed for sale on August 14, 2024 by Fred Leeds Asset Group Inc., it's currently listed at $2,800,000. This listing's school district is Culver City Unified School District. Nearby schools include La Ballona Elementary School, Culver City Middle School and Culver City High School. 3873 College Avenue is a 16-bed, 17-bath, 8,912 sqft multi-family home built in 1973.

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 Fred Leeds Asset Group Inc., Chandler Rockwell, DRE #02080782; Rodeo Realty, Blayne Pacelli, DRE #01364537

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.