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$ 2,700,000
Est. payment | /mo
7,532 SqFt
$ 2,700,000
Est. payment | /mo
7,532 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 7,532 sqft
Price per Sqft $358
MLS Listing ID CL26870057
HOA Y/N No
Year Built 1957
Lot Size 7,502 Sqft
Acres 0.1722
Property Sub-Type Other
Property Description
Kidder Mathews is pleased to present 3722 Mentone Ave, a well-maintained 9-unit apartment building situated in the heart of the Palms neighborhood, one of the most centrally located and tightly held rental submarkets on the Westside. The property delivers strong in-place income at a 5.78% going-in cap rate while offering a clear and executable path to a 7.13% market cap rate as below-market units naturally turn over, presenting a rare combination of reliable day-one cash flow and meaningful long-term upside. || The building offers a diverse and desirable unit mix of 1 (Studio/1BA), 4 (1BD/1BA), 3 (2BD/1BA), and 1 (3BD/2BA) across two stories, appealing to Palms' broad renter base of young professionals, couples, and shared households. The property has been consistently well maintained under long-term ownership with strong management in place, reflecting a pride of ownership that is evident throughout the asset and contributing to historically stable occupancy and low tenant turnover. || The property currently has one vacancy, and projected gross rents of $19,430 per month reflect a realistic stabilized income figure once the unit is leased. Approximately 23% in NOI upside remains available as remaining below-market units are brought to market rate through turnover and renovation over time. || Centrally positioned with walkable access to neighborhood dining, retail, parks, beaches, and the Metro E Line, the property offers exceptional connectivity to Culver City, Mar Vista, Mid-City, Santa Monica, and the broader Westside employment base, including major tech and entertainment employers. Residents also benefit from proximity to Sony Pictures Studios, Culver Center Shopping Mall, Veterans Memorial Park, and the weekly Palms Farmers Market, creating a dynamic and highly sought-after residential environment. || For investors looking to establish or grow a Westside multifamily portfolio, 3722 Mentone Ave represents a compelling opportunity to acquire a well-positioned, cash-flowing asset with genuine upside remaining in one of Los Angeles' most desirable and supply-constrained submarkets.
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Wall Furnace
Flooring Wood
Fireplace No
Appliance Dryer
Laundry Dryer, Laundry Room, Washer
Exterior
View Y/N false
View None
Building
Lot Description Other
Water Other
New Construction No
Others
Tax ID 4314003005
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Listed by Scott Rosenberg • Kidder Mathews of California, Inc.
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