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Listed by Drew Dunn • Four Brothers Real Estate, Inc.
$3,550,000
Est. payment /mo
6,270 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 6,270 sqft
Price per Sqft $566
MLS Listing ID OC-26163764
Year Built 2024
Lot Size 5,004 Sqft
Property Sub-Type Quadruplex
Source California Regional Multiple Listing Service (CRMLS)
Property Description
Introducing an exceptional, 100% occupied investment opportunity! A newly constructed, non-rent-controlled four-unit luxury apartment complex in the heart of Culver City's thriving Silicon Beach. Surrounded by major employers including Amazon Studios, Sony Pictures, Apple, HBO, Hulu, Google, and the offices of countless technology and entertainment companies, this prime location continues to experience strong demand for high-quality rental housing. The property generates $260,400 in annual gross income and offers a true Year One cap rate of 5.60%, with built-in rental increases projected to elevate the cap rate to 5.75%. Thoughtfully designed for today's renters, each spacious residence features open-concept floor plans, private in-unit laundry, multiple private balconies or decks, designer finishes, and two dedicated parking spaces. The unit mix consists of a front duplex with two expansive 4-bedroom, 4.5-bath residences and a rear duplex with two 3-bedroom, 3-bath residences, providing an ideal blend of larger family-oriented units. Each unit is individually metered for water and electricity, reducing owner expenses while providing tenants with independent utility control. Luxury amenities include a full suite of premium appliances, including a washer and dryer, refrigerator, dishwasher, 36-inch range, and over-the-range microwave. Each unit is also equipped with fully owned solar panels, providing long-term energy savings and increasing tenant appeal. Adding to the property's upside is a rare value-add opportunity to convert the existing oversized four-car garage into an approximately 2-bedroom, 2.5-bath ADU, while still maintaining ample parking for every unit. The projected ADU is expected to generate an additional approximately $3,600 per month in rental income, increasing the property's cap rate to an estimated 6.75%. Built with sustainability and long-term ownership in mind, the property incorporates eco-friendly construction materials, water conservation and reclamation systems, drought-tolerant landscaping, and other energy-efficient features. As newly constructed buildings, the improvements offer the benefits of modern construction, low maintenance requirements, and builder warranties, making this an ideal turnkey investment. Strategically located in one of Los Angeles' most desirable and supply-constrained rental markets, this trophy asset combines immediate cash flow, future income growth, and meaningful value-add potential.
Location
State CA
County Los Angeles
Area C28 - Culver City
Zoning LAR3
Interior
Fireplaces Type None
Laundry Electric Dryer Hookup, Inside, Washer Hookup, Washer Included
Exterior
Garage Spaces 8.0
Pool None
Community Features Street Lights
View Y/N Yes
View City Lights
Building
Lot Description Front Yard, Landscaped, Lawn, Level with Street
Sewer Public Sewer
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Nearby Locations
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Naghmeh Keyvani
Broker Associate | License ID: DRE# 02091823
Broker Associate License ID: DRE# 02091823