Clarington Ave Apartments
3510 Clarington Ave | Palms, Los Angeles, California | 90034
$4,800,000
About
Year Built: 1964
Type: Apartment
Units: 17
GRM: 15.96
Cap Rate: 3.5%
Bldg Size: 14,423 Sq Ft.
Lot Size: 14,000 Sq Ft.
Agents
ADDITIONAL INFORMATION
Prime Palms Location/ Close to DT Culver City
One Block From Palms Transit Station (METRO Expo Line)
Large 14,000 SF Corner Lot
Value Add/ Strong Upside
Clarington Ave. Apartments is an excellent investment opportunity with unlimited potential that appreciates and provides lasting appeal to a sophisticated tenant profile. In an area with working professionals, students, and families alike, Clarington Ave. Apt. offers tenants trendy neighborhood living within a centrally located “Westside” community. The property is located at the corner of Clarington Ave. and Palms Blvd. a block south of the new Palms Metro T.O.D. Station (offering service in late 2015), and north of Historic Downtown Culver City (about a 10 min walk). The property’s location is situated perfectly to take full advantage of Los Angeles’ diverse amenities –offering Clarington Ave. Apt. residents the rare choice to travel by car or foot.
Consisting of well-maintained two story building, the property is situated on a 14,000 square foot parcel. The building is approximately 14,423 square feet and features a desirable unit-mix that includes seven true 2+2 units and ten 1+1 units. Clarington Ave. Apt. features 17 on-site parking spaces that are all privately enclosed. Property amenities include private enclosed courtyard with swimming pool and on-site laundry. The property was built in 1964.
The subject property allows an investor the opportunity to acquire a well-located apartment asset in a desirable location with increased income potential to value-add investors based on future upgrades. As a stabilized investment, it would be a great addition to any apartment portfolio.