3873 College Ave Culver City, CA 90232-3639
- Apartment buildings
- 8,912 SF
- 0.21 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 3873 College Ave
- Year built
- 1973
- Construction
- WOOD
- Lot size
- 0.21 lot acres
- Property size
- 8,912 SF
- Zone code
- CCR4*
- Property type
- Apartment buildings
- APN
- 4208-022-029
- APU
- 4208022029
Description
This exceptional 8-unit apartment building presents a compelling investment opportunity in the highly desirable Culver City market. Boasting 8,912 square feet of gross rentable area on a 9,029-square-foot lot, this two-story, 1973-built property offers a strong current NOI of $156,362, representing a 5.58% cap rate. A pro-forma NOI of $206,787 projects a 7.39% cap rate, indicating significant upside potential. The property features seven two-bedroom/two-bathroom units and one two-bedroom/two-and-a-half-bathroom unit, all well-suited to today's rental market. Residents enjoy gated parking, adding to the property's appeal. The building is situated in a walkable neighborhood with convenient access to shops, services, and public transportation. Its location in Culver City, a hub for tech and media companies, ensures strong rental demand. The asking price is $2,800,000, translating to $350,000 per unit and $314.18 per square foot. The property is currently 88% occupied and zoned LAR3. This well-maintained asset offers a unique opportunity for investors seeking strong returns in a prime location. Individual units are separately metered for gas and electric.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,635,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,500,000
- 6.5%
- $2,650,000
- 7%
- $2,690,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,225,000
- Geo Method
- $2,500,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,595,000
- Retail
- $2,965,000
- Mixed-Use
- $2,680,000
- Hospitality
- $2,665,000
- Educational
- $2,750,000
- Residential Income
- $2,690,000
- Energy
- $2,565,000
- Income-Based Land
- $2,585,000
- Food Service
- $2,685,000
Location Insight
- Map
- Local Demand
- City
- Culver City
- County
- Los Angeles
- State
- California
- Longitude
- -118.411
- Latitude
- 34.0141
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
