Listing provided courtesy of Scott Rosenberg of Kidder Mathews of California, Inc.. Last updated 2024-10-31 08:11:24.000000. Listing information © 2024 CRMLS.
Asking Price: $2,025,000
3650 Carmona, Los Angeles CA 90016
Community: PHHT - Park Hills Heights
Status: Active
This property was built in 1951 and is priced at $2,025,000. Please see the additional details below.
The property is located in a charming pocket of Baldwin Hills, just East of the Cumulus Development on La Cienega and Jefferson. With trendy eateries, bars, shops, and iconic landmarks just minutes away, the property benefits from a positive trend in rental demand due to a shift from a workforce population to a tech and entertainment centered tenancy. It is comprised of 8 total units, with a desirable mix of 2+1 units averaging approximately 1,181 SF. The property is also equipped with 8 garages that open to a large alley and an attached laundry room, as well as tidy landscaping and classing 1950's features throughout. The average current rents for the units are significantly below market rates, presenting an approximate 50% in NOI upside. With premium upgrades, an investor may be able to create a new market rate beyond the published market target. The 8 garages are an excellent potential candidate for ADU conversions. With its prime location in this special pocket of Baldwin Hills along with the distinctive features, overall condition, and considerable upside potential, this property is a standout choice.