3765 Delmas Ter Los Angeles, CA 90034

This exceptional, newly constructed (2024) four-unit apartment building in Los Angeles' desirable Palms neighborhood presents a compelling investment opportunity. Boasting a total of 5,272 square feet, including 4,303 net rentable square feet, this Class A property offers a strong pro-forma cap rate of 5.51% and a projected NOI of $159,696. Currently vacant, this turnkey property is ideal for owner-occupancy or immediate leasing at top-of-market rents. The two buildings, each three stories high, are situated on a 3,623 square foot lot and include four parking spaces. Each of the four units features private laundry and garage parking. Individual meters for water, gas, and solar-powered electricity are installed in each unit, along with a common area meter for exterior lighting and landscaping. The property utilizes drought-tolerant landscaping and energy-efficient materials, fixtures, and appliances, minimizing maintenance and maximizing environmental responsibility. Located minutes from Culver City attractions, including Culver City Steps and Ivy Station, the property benefits from the area's thriving tech and entertainment industries, ensuring strong rental demand and future growth potential. The property is zoned R3 and has an APN of 4313014019. The asking price is $2,899,000, representing a price per unit of $724,750 and a price per square foot of $549.89. An additional Accessory Dwelling Unit (ADU) conversion is nearing completion (September 1).