24-Unit Apartment
New
For Sale
$19,750,000
3400 Pacific Avenue, Marina del Rey, CA 90292
Residences feature in-unit laundry, central HVAC, private balconies, and two bedrooms with 2.5 baths.
Property Size37,390 SF
Lot Size0.42 Acres
Price / SF$528.22
Days on Market5
Property Features for 3400 Pacific Avenue
General Information
Standard status
Active
Size
37,390 SF
Total Parking Spaces
54
Lot size
0.42 Acres
Property subtype
Multifamily
Zoning
LAC2
Units
Unit Mix
24 x 2BR/2.5BA
Multifamily Units
24
Parking per Unit
2.25
Additional Details
Road Access
Yes
Amenities
in-unit laundry
central HVAC
private balconies
Building Details
Building Size
37,390 SF
Year Built
1990
Units
24
Listing Agency:
Richard J. Ringer Inc.
Listed By:
Richard Ringer · License #CalDRE #01494512
(310) 666-3085
Source:
Arcainc
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 16 at 6:53AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Richard J. Ringer Inc.
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Investment Insights
Based on property information with market context.
Built in 1990, the apartment property contains 24 residences, each with two bedrooms and 2.5 baths. Units average approximately 1,500 square feet and include in-unit laundry, central HVAC, and private balconies. The building provides 37,390 square feet of improvements, with 54 gated parking spaces.
The 18,144-square-foot site carries LAC2 zoning. Its block-through presence extends along Pacific Avenue from Catamaran Street to Driftwood Avenue. The property is being offered by its original developer.
The 18,144-square-foot site carries LAC2 zoning. Its block-through presence extends along Pacific Avenue from Catamaran Street to Driftwood Avenue. The property is being offered by its original developer.
Key Highlights
- 24 residences, all with two bedrooms and 2.5 baths
- Units average approximately 1,500 square feet
- 37,390 SF of building improvements
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$601,635
Cap Rate
3.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,032,700
$12.0M
Cap Rate 7%
$8,594,786
$8.6M
Cap Rate 9%
$6,684,833
$6.7M
Market Conditions
NOI Build-Up for 37,390 SF
Gross rent
$1.19M $31.80/SF
− Vacancy
−$95.1K −$2.54/SF
EGI
$1.09M $29.26/SF
− OpEx
−$492.2K −$13.17/SF
NOI
$601.6K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,032,700
Cap Rate 7%
$8,594,786
Cap Rate 9%
$6,684,833
Alternative Uses
Best Use
Apartment 5plus
$8.59M
$7.52M – $10.03M
NOI $601,635 @ 7.0% cap · market cap 3.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$20.02M
$17.52M – $23.35M
NOI $1,401,292 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
24
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,749
Businesses Nearby
Explore this area
Business Placement
Demographics for 90292, CA
27,681
Population
16,878
Households
1.6
Avg Household Size
40
Median Age
73%
College-Educated
97%
High-School Grad
2.1 sq mi
ZIP Area
13,181
Density / Sq Mi
$136,964
Median Household Income
$95,175
Median Earnings
$3,501
Median Rent
$1,233,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Residences feature in-unit laundry, central HVAC, private balconies, and two bedrooms with 2.5 baths.
Where is this apartment building located?
The property is located at 3400 Pacific Avenue Marina del Rey, CA.
What is the asking price?
The asking price for this property is $19,750,000.
What are key features of this property?
This property features: 24 residences, all with two bedrooms and 2.5 baths; Units average approximately 1,500 square feet; 37,390 SF of building improvements
