High Density | Value-add Potential | Great Connectivity
Mark-to-Market Opportunity
Marketing description
2614 Garth Avenue is a two-story, 7,029 square foot 8-unit multifamily property located on a 7,482 square foot lot in the highly desirable Palms submarket on Los Angeles’s Westside. The property was built in 1965 and is comprised of an attractive unit mix of: Three 1 Bed + 1 Bath, Two 2 Bed + 1 Bath, and Three 2 Bed + 2 Bath. The units are large, ranging from 800 square feet to 1,010 square feet. Amenities include on-site laundry facilities, private balconies, and assigned parking.
Positioned in the Palms submarket of Los Angeles, the area is characterized by its high density and predominant rental market, making it a hub for young professionals, students, and families seeking proximity to the Westside's employment centers and cultural attractions. The property benefits from excellent connectivity, situated near major thoroughfares such as Venice Boulevard and National Boulevard. The Palms Metro E Line station, located at the intersection of National and Palms Boulevards, is within walking distance, offering convenient access to Downtown Los Angeles and Santa Monica. Additionally, the neighborhood is well-served by bicycle lanes along Venice and Motor Avenues, promoting an active lifestyle and reducing reliance on cars.
Palms is home to a variety of local businesses, including international restaurants, cafes, and shops. Tenants enjoy being close to Kaiser Permanente, Downtown Culver City Ivy Station, HBO/Warner Media Headquarters, and eight public schools and 4 private schools including Palms Elementary School and Alexander Hamilton High School. Making Palms one of the most densely populated areas in Los Angeles. As of 2020, approximately 92% of the Palms population are renters.
2614 Garth presents a compelling opportunity for long-term investors, combining immediate cash flow with future value-add potential. With a current vacancy of 3 units at the property, an investor has the chance to capitalize by renovating the units and reaching market rent. This property presents the astute investor with a fantastic opportunity to purchase a well-maintained, immediate rent growth asset in a highly desirable location.
Investment highlights
CONSISTENT, IN-DEMAND UNIT MIX
The property features eight units with a highly desirable
con{guration in the West Los Angeles rental market. This unit mix
supports steady leasing activity while offering a strong potential for
rent growth across units.
BUILT-IN RENTAL UPSIDE
Current rents are approximately 25% below market (in the occupied
units), providing a unique opportunity for investors to implement a
value-add strategy through rent increases and tenant turnover. This
built-in upside offers substantial potential for revenue growth
without the need for major capital expenditures or physical
expansion.
PRIME LOCATION IN WEST LA
Located in the heart of the 90034 zip code, 2614 Garth Ave bene{ts
from a prime location near key retail and dining establishments, as
well as employment hubs across the city. The property's proximity to
major freeways, including the 10 and 405 Freeways, enhances its
appeal to both professionals and workforce renters.
WALKABLE TO NEIGHBORHOOD
CONVENIENCES
Tenants enjoy easy walking access to local conveniences, including
cafes, grocery stores, and public transit. The property is just minutes
from the Culver City Arts District and the vibrant Palms
neighborhood, which enhances tenant satisfaction and supports
long-term, low vacancy rates.
EXCEPTIONAL CONNECTIVITY TO
EMPLOYMENT HUBS
Located only 15 minutes from downtown Los Angeles, 2614 Garth
Ave offers residents quick access to some of the region's largest job
centers, including the Westside, Hollywood, and Silicon Beach. The
property location near major thoroughfares also ensures convenient
commuting options for tenants employed across the metro.
EFFICIENT LOT SIZE WITH OPERATIONAL
SIMPLICITY
The property features a compact 7,482 SF lot with an 8-unit
building, offering ef{cient operations and a manageable footprint
for ownership and maintenance. The property features a practical,
easy-to-maintain design focused on maximizing usable space and
minimizing shared area, which helps reduce maintenance and
operational expenses.
2614
South Garth Avenue
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