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30952187
30952198

3115 Ivy St, Los Angeles, CA 90034 For Sale

MS
CA 01911703
Marcus & Millichap - Los Angeles
Listed by Marcus & Millichap - Los Angeles
$2,395,000
128 days on market
Updated 5 days ago

3115 Ivy St.

Details
APN 4312-009-037
Property Type Multifamily
Sub Type Apartment Building
Square Footage 6,038
Net Rentable (SqFt) 6,038
Units 8
Cap Rate 5.94%
NOI $142,145
Occupancy 75%
Pro-Forma Cap Rate 6.97%
Pro-Forma NOI $166,999
Price per SqFt $397
Class A
Year Built 1964
Buildings 1
Stories 2
Lot Size (SqFt) 6,157
Zoning LARD1.5
Parking Spaces 6 spaces
Parking per 1,000 SqFt 0.99
Investment Type Stabilized

8 Units- Culver City Location

Marketing description

The Sterman Multi‑Family Group of Marcus & Millichap is pleased to present 3115 Ivy Street, an 8‑unit apartment community located in the highly desirable Culver City/ Palms neighborhood of West Los Angeles. Built in 1964, the property offers approximately 6,038 square feet of rentable living area on a 6,157‑square‑foot lot, providing investors with a well‑located and stable asset in one of the Westside’s most consistently strong rental markets.

The building features a practical and appealing unit mix, with bright interiors, efficient layouts, and the long‑term durability associated with classic mid‑century construction. These characteristics support steady tenant demand and create a reliable operating environment for ownership, while still offering clear opportunities for future modernization and value enhancement.

3115 Ivy Street benefits from an exceptional location just steps away from Culver City, placing residents near major employment centers such as Culver City’s expanding tech and creative office district, Sony Studios, and the broader Westside job base. The property is surrounded by a wide selection of dining, retail, and neighborhood conveniences along Venice Boulevard and Sepulveda Boulevard. Connectivity is another key advantage, with close access to the I‑10 and I‑405 Freeways as well as the Metro E Line, allowing for convenient travel throughout Greater Los Angeles.

Situated within a supply‑constrained, transit‑oriented, and high‑demand rental pocket, 3115 Ivy Street represents a compelling opportunity to acquire a well‑maintained multifamily asset with stable in‑place income and meaningful potential for long‑term appreciation.

Investment highlights

  • Excellent Culver City location surrounded by single‑family homes
  • 8‑unit building featuring an attractive mix of: one (1) bachelor, one (1) one‑bed/one‑bath, four (4) two‑bed/two‑bath, and two (2) three‑bed/two‑bath units
  • Two unoccupied two‑car garages provide an opportunity for ADU expansion, secure storage rental, or additional parking income
  • 4/8 of the Units Have Been Completely Remodeled
  • Recent upgrades include a new roof (2022), copper plumbing improvements completed between 2021, and 2022, fresh exterior paint (2022), and a fully completed seismic retrofit
  • Convenient access to Venice Boulevard, the I‑10 Freeway, and the Metro Expo Line
  • Close proximity to major employment hubs including Palms, Century City, Culver City, and the broader Silicon Beach tech and creative corridor

Listing Contacts

MS
CA 01911703
Marcus & Millichap - Los Angeles
Listed by Marcus & Millichap - Los Angeles

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$142,145.00
$11,845.42/mo

Valuation Metrics

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DSCR
5.94%
Cap Rate
5.94%
ROI

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