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3704 Glendon Avenue

Los Angeles (City), CA 90034
  • $6,700,000
  • STATUS: Active
  • ON SITE: 19 Days
  • ID#: PW22161966
UPDATED: 44 min ago
$6,700,000
  • 0
    BEDS
  • 0.37
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1948
County:

School Ratings & Info

Listing Agent(s): Steven Bogoyevac of Steven M. Bogoyevac, Broker (562-436-5800)


Description

Rare opportunity to acquire three contiguous parcels in Los Angeles Palms neighborhood. The offering boasts a great location at 3704, 3710 and 3714 Glendon Avenue, less than a block north of Venice Boulevard and a Ralphs grocery store, a half-mile from Sony Studios, surrounded by numerous major development projects, proximate to downtown Culver Citys popular entertainment and major employers, and just four miles to Venice Beach. The average household income within one mile exceeds $110,000.The subject property encompasses a total lot size of 16,304 square feet zoned LAR3, and a new investor may be able to develop 36 units by utilizing low income density bonuses (buyer to verify). Assuming a development of 31,482 rentable square feet with a mix of studio, one-bedroom, and two-bedroom units, the estimated value of the completed project would be $21,500,000.3704-3714 Glendon Avenue currently features four existing buildings with 12 total units that generate $22,762 in monthly rent.Cross-posted as a land offering MLS ID: PW22161947

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-11T21:34:04.817. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or American Real Estate List & Sell. Licensed in the State of California, USA.
www.americanrealestatehomes.com/homes/131190865
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3704 Glendon Avenue Los Angeles (City), CA 90034

  • Price: $6,700,000
  • Status: Active
  • On Site: 19 Days
  • Updated: 44 min ago
  • ID#: PW22161966
0
Beds
0
Baths
0
½ Baths
0.37
Acres
1948
Built
Neighborhood:
C13 - Palms - Mar Vista
County:
Los Angeles
Area:
C13 - Palms - Mar Vista
Property Description
Rare opportunity to acquire three contiguous parcels in Los Angeles Palms neighborhood. The offering boasts a great location at 3704, 3710 and 3714 Glendon Avenue, less than a block north of Venice Boulevard and a Ralphs grocery store, a half-mile from Sony Studios, surrounded by numerous major development projects, proximate to downtown Culver Citys popular entertainment and major employers, and just four miles to Venice Beach. The average household income within one mile exceeds $110,000.The subject property encompasses a total lot size of 16,304 square feet zoned LAR3, and a new investor may be able to develop 36 units by utilizing low income density bonuses (buyer to verify). Assuming a development of 31,482 rentable square feet with a mix of studio, one-bedroom, and two-bedroom units, the estimated value of the completed project would be $21,500,000.3704-3714 Glendon Avenue currently features four existing buildings with 12 total units that generate $22,762 in monthly rent.Cross-posted as a land offering MLS ID: PW22161947
Exterior Features

Number Of Separate Electric Meters 12 Parking Total 0 Pool Features None Pool Private YN No Property Attached YN No

Interior Features

Common Walls No Common Walls

Property Features

Additional Parcels YN Yes Common Interest None Community Features Suburban Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 273144 Gross Scheduled Income 273144 Insurance Expense 0 Land Lease YN No Laundry Features Washer HookupElectric Dryer Hookup Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Net Operating Income 152617 New Construction YN No Number Of Separate Gas Meters 12 Number Of Separate Water Meters 0 Operating Expense 112333 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Water Sewer Expense 0 Water Source Public Zoning Lar3



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-11T21:34:04.817. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or American Real Estate List & Sell. Licensed in the State of California, USA.
 
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American Real Estate List & Sell
6391 Magnolia Ave., B20
Riverside CA, 92505
Listing Agent(s): Steven Bogoyevac of Steven M. Bogoyevac, Broker (562-436-5800)