Four-Unit Multifamily
For Sale
$1,400,000
Pending
3852 Prospect Ave, Culver City, CA 90232
Vintage multifamily property with in-unit laundry and rear parking.
Property Size3,512 SF
Lot Size0.17 Acres
Days on Market52
Property Features for 3852 Prospect Ave
General Information
Standard status
Pending
Size
3,512 SF
Total Parking Spaces
4
Lot size
0.17 Acres
Property subtype
MULTI_FAMILY
Site & Location
Neighborhood
Clarkdale
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA, 3 x 2BR/1BA
Multifamily Units
4
Amenities
in-unit washer and dryer
Building Details
Building Size
3,512 SF
Year Built
1926
Buildings
1
Listing Agency:
NorthMarq Realty Services, Inc.
Listed By:
Elliot Hassan · License #01481211
(213) 943-1800
Source:
Evecap
Added: Sep 9
Changed: Oct 25
Last Checked: Oct 28 at 4:10PM
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 NorthMarq Realty Services, Inc.
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Investment Insights
Based on property information with market context.
Built in 1926, this four-unit multifamily property contains approximately 3,512 gross square feet on a 7,502-square-foot lot. The unit mix includes one one-bedroom, one-bathroom residence and three two-bedroom, one-bathroom residences. Each unit has an in-unit washer and dryer, while the property remains largely in its original condition with period character intact.
A freestanding rear carport provides four parking spaces and may offer an opportunity to evaluate ADU conversion or other redevelopment options, subject to buyer verification and applicable approvals. Current in-place rents reflect approximately 20% loss-to-lease. The property is located in Culver City near Sony Pictures, Amazon Studios, Apple, The Culver Studios, and the Hayden Tract, with the Palms Metro E Line Station approximately a seven-minute walk away.
A freestanding rear carport provides four parking spaces and may offer an opportunity to evaluate ADU conversion or other redevelopment options, subject to buyer verification and applicable approvals. Current in-place rents reflect approximately 20% loss-to-lease. The property is located in Culver City near Sony Pictures, Amazon Studios, Apple, The Culver Studios, and the Hayden Tract, with the Palms Metro E Line Station approximately a seven-minute walk away.
Key Highlights
- Four‑unit property with one 1‑bedroom and three 2‑bedroom residences
- Approximately 3,512 gross square feet on a 7,502‑square‑foot lot
- In‑unit washer and dryer in every residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,332
Cap Rate
4.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,226,640
$1.2M
Cap Rate 7%
$876,171
$876.2K
Cap Rate 9%
$681,467
$681.5K
Market Conditions
NOI Build-Up for 3,512 SF
Gross rent
$94.8K $27.00/SF
− Vacancy
−$7.2K −$2.05/SF
EGI
$87.6K $24.95/SF
− OpEx
−$26.3K −$7.48/SF
NOI
$61.3K $17.46/SF
Area
Los Angeles County, CA
Vacancy
7.60%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,226,640
Cap Rate 7%
$876,171
Cap Rate 9%
$681,467
Alternative Uses
Best Use
Multifamily LT 5
$876.2K
$766.7K – $1.02M
NOI $61,332 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$807.3K
$706.4K – $941.9K
NOI $56,511 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$1.88M
$1.65M – $2.19M
NOI $131,622 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
4,701
Businesses Nearby
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Business Placement
Demographics for 90232, CA
16,452
Population
7,995
Households
2.1
Avg Household Size
38
Median Age
64%
College-Educated
91%
High-School Grad
2.2 sq mi
ZIP Area
7,478
Density / Sq Mi
$125,490
Median Household Income
$84,701
Median Earnings
$2,659
Median Rent
$1,491,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Vintage multifamily property with in-unit laundry and rear parking.
Where is this quadplex located?
The property is located at 3852 Prospect Ave Culver City, CA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Four‑unit property with one 1‑bedroom and three 2‑bedroom residences; Approximately 3,512 gross square feet on a 7,502‑square‑foot lot; In‑unit washer and dryer in every residence
