16-Unit Apartment
For Sale
$2,695,000
3854 Mentone Ave, Culver City, CA 90232
MULTI_FAMILY - Culver City, CA
Property Size6,296 SF
Lot Size0.18 Acres
Price / SF$428.05
Days on Market96
Property Features for 3854 Mentone Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
LAR4
Bedrooms
6
Bathrooms
16
Full bathrooms
3
Rooms
Laundry Room, Bathroom 14, Bedroom 2, Bathroom 6, Bathroom 7, Bathroom 10, Bathroom 13, Bathroom 4, Bathroom 8, Bathroom 9, Bathroom 16, Bedroom 1, Bedroom 5, Bathroom 3, Bedroom 3, Bathroom 1, Bathroom 5, Bedroom 6, Bathroom 2, Bathroom 11, Bathroom 15, Bedroom 4, Bathroom 12
Parking
12
Parking features
Carport
Directions
2 blocks east of Overland between Venice and Washington
Subdivision
Culver City
Standard status
Active
APN
4208-007-010
Size
6,296 SF
Lot size
0.18 Acres
Building Details
Year built
1957
Floors in Building
2
Number of units
16
Listing Agency:
Coral Tree Real Estate Service
(310) 312-4840
Listed By:
Sari Gassner · License #01052002
(818) 744-3132
Added: May 14
Changed: Aug 11
Last Checked: Aug 17 at 4:06AM
MLS# 26752401
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
3854 Mentone Ave is a 16-unit apartment building on a 0.1758-acre lot in Culver City, CA 90232, built in 1957. The unit mix includes 4 bachelors, 6 studios, and 6 one bedrooms. The property is described as being delivered with 3 vacancies. Carport parking is provided.
The building is under LAR4 zoning. The soft story seismic retrofit has been completed by the owners, and the exterior has just been repainted. Updates also include new drains in the garage and a new sewer line, supporting confidence in key building and site systems.
For buyers evaluating multifamily ownership in Los Angeles/Culver City, this configuration—combined with the completed retrofit and recent exterior and utility work—offers a straightforward foundation for operational planning.
The building is under LAR4 zoning. The soft story seismic retrofit has been completed by the owners, and the exterior has just been repainted. Updates also include new drains in the garage and a new sewer line, supporting confidence in key building and site systems.
For buyers evaluating multifamily ownership in Los Angeles/Culver City, this configuration—combined with the completed retrofit and recent exterior and utility work—offers a straightforward foundation for operational planning.
Key Highlights
- 16‑unit apartment building on a 0.1758‑acre lot
- Unit mix: 4 bachelors, 6 studios, 6 one bedrooms
- LAR4 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$101,308
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.76%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,026,160
$2.0M
Cap Rate 7%
$1,447,257
$1.4M
Cap Rate 9%
$1,125,644
$1.1M
Market Conditions
NOI Build-Up for 6,296 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$200.2K $31.80/SF
− Vacancy
−$16.0K −$2.54/SF
EGI
$184.2K $29.26/SF
− OpEx
−$82.9K −$13.17/SF
NOI
$101.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,026,160
Cap Rate 7%
$1,447,257
Cap Rate 9%
$1,125,644
Alternative Uses
Best Use
Apartment 5plus
$1.45M
$1.27M – $1.69M
NOI $101,308 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.37M
$2.95M – $3.93M
NOI $235,960 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
6,283
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - LAR4-zoned 16-unit building delivered with 3 vacancies, featuring soft story retrofit completion and carport parking.
Where is this apartment building located?
The property is located at 3854 Mentone Ave Culver City, CA.
What is the asking price?
The asking price for this property is $2,695,000.
What are key features of this property?
This property features: 16‑unit apartment building on a 0.1758‑acre lot; Unit mix: 4 bachelors, 6 studios, 6 one bedrooms; LAR4 zoning
