3340 OVERLAND AVE
A 23-unit apartment building at 3340 Overland Ave in the Palms neighborhood of Los Angeles, California, offered at $5,800,000 at a 4.21% cap ($244,041 NOI). The unit mix is two studios, twenty one-bedroom apartments, and one two-bedroom unit. The listing cites roughly 40% potential rental upside.
The two-building, two-story property was built in 1966 and totals 13,324 SF on an 18,199 SF (0.42-acre) double lot zoned LAC2 (APN 4314-020-033). The soft-story retrofit is complete, and copper repiping was done in 2004. On-site features include laundry facilities, a rear swimming pool, and parking. The lot size leaves room for ADU additions, including a possible conversion of the tuck-under parking, or ground-up development on the adjacent lot, subject to approvals.
The building sits on Overland Avenue, north of Palms Boulevard. Residents have access to the Palms Metro E Line, the 10 and 405 freeways, Culver City, and nearby retail and dining.
- 23 units: two studios, twenty one-bedrooms, one two-bedroom
- About 40% potential rental upside
- 18,199 SF double lot with possible ADU or development potential
- Soft-story retrofit completed; copper repiping done in 2004
- Rear pool and on-site laundry
- Near the Palms Metro E Line and the 10 and 405 freeways
More property details
About this property
Marcus & Millichap is pleased to present a 23-unit apartment building located at 3340 Overland Avenue in Los Angeles, California, in the desirable Palms neighborhood, along Overland Avenue and north of Palms Boulevard. The property features a unit mix of two studios, twenty one-bedroom apartments, and one two-bedroom unit, offering approximately 40% potential rental upside and opportunities for income growth. Situated on a large 18,199-square-foot double lot, the property may offer additional development potential through accessory dwelling units (ADUs), including the possible conversion of tuck-under parking, or ground-up development on the adjacent lot, subject to necessary approvals. Property improvements include a completed soft-story retrofit and copper repiping completed in 2004, along with on-site laundry facilities, a rear swimming pool, and parking. Residents benefit from convenient access to the Palms Metro E Line, the 10 and 405 freeways, Culver City, and nearby retail and dining destinations. With substantial rental upside, a sizable double lot, and potential opportunities for ADU conversions or future development, the property presents an attractive investment opportunity in the sought-after Palms neighborhood.
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