3344 Keystone Avenue
A 9 Unit Value Add Apartment Community in the Palms Neighborhood
Marketing description
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale 3344 Keystone Avenue, a nine-unit apartment community in Palms, an affluent residential neighborhood bordering Culver City. The subject property is located East of Overland Avenue & North of Palms Boulevard, ideally located three blocks away from the I-10 Freeway and one block North of Venice Boulevard allowing tenants convenient access throughout Los Angeles.
Nestled between Beverly Hills, Century City, Marina Del Rey, Santa Monica and Venice, 3344 Keystone provides residents with easy access to major thoroughfares and the charm of Palms’ vibrant neighborhood. The area captures the essence of urban living providing tenants access to West LA, Downtown Culver City and strong employment opportunities as many of the largest tech companies including Google, Apple, Tesla and Amazon have leased space nearby.
Situated on a 7,496 square foot lot, the property is comprised of one studio, six one-bedroom units, and two two-bedroom units. Select units have been upgraded with new flooring, quartz countertops, stainless steel appliances, AC and more. All six of the one-bedroom units have plans to be converted to two-bedroom units as well as the ability to add an Additional Dwelling Unit (ADU), providing new ownership a major repositioning opportunity. The property is professionally managed and offers large floor plans, balconies, on-site parking & laundry.
3344 Keystone Avenue provides investors with a rare opportunity to acquire a well-maintained asset with remaining value-add components in a desirable pocket of West Los Angeles.
* The Properties Original Certificate of Occupancy Indicates that there are 9 Apartments; while the LA County Assessor’s Record Indicates there are 8 Units. City of Los Angeles goes by Certificate of Occupancy to Determine Legal Units. Buyer must conduct their own Due Diligence Regarding this Matter.
** LA Assessor Indicates 7,638 Square Feet - Buyer to Verify
Investment highlights
Generational Opportunity
Long Term Ownership – Family Owned & Available for Purchase for the First Time Ever
Strong Value-Add Component
There is Approximately 16 Percent Remaining Rental Upside Through Turnover and Tactful Renovation (Current Unit Configuration)
Unit Conversion Potential
Six One-Bedroom Units have Plans to be Converted into Two-Bedroom Units, Enabling Investors to Achieve Rent Premiums Over the Current Unit Mix - Buyer to Verify
ADU Opportunity
Ownership has Procured Plans to Add an Accessory Dwelling Unit (ADU) to the Property Allowing for Added Future Growth and Appreciation Potential - Buyer to Verify
A Sought After Location
The Property is Located in a Highly Desirable Pocket of West Los Angeles, Where Residents Enjoy Convenient access to Employment Centers, Retail & Entertainment in Culver City, Century City & Santa Monica
Strong In Place Income
Keystone is Currently Achieving a Healthy Income Stream of More than $20,000 in Scheduled Rent Per Month
Located in Close Proximity to Palms Metro - Light Rail E Line
The Palms Metro Station is Part of the E Line that Connects Commuters from Downtown Los Angeles, Culver City and Santa Monica
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