3739 MENTONE AVE
A 12-unit apartment building at 3739 Mentone Ave in the Palms neighborhood of Los Angeles is offered at $3,300,000, a 5.14% cap rate on $169,463 NOI. The seller's family built the property, and the listing cites about 30% potential rental upside plus possible ADU conversions.
The building was constructed in 1958 and totals 7,363 SF on a 7,500 SF lot zoned LAR3. The unit mix is one studio, nine one-bedrooms, and two two-bedrooms. A soft-story retrofit has been completed, and the copper re-pipe was done in 2005. On-site features include laundry facilities, rear tuck-under parking, and front surface parking. The tuck-under area could be converted into multiple ADUs, subject to feasibility and necessary approvals.
The property sits just north of Venice Boulevard and east of Overland Avenue. The Palms Metro E Line and the 10 and 405 freeways are close by. Downtown Culver City, Media Park, Woodbine Park, and nearby restaurants, shops, and entertainment are also within easy reach. The APN is 4314-002-004.
- 12 units: one studio, nine one-bedrooms, two two-bedrooms
- 5.14% cap rate on $169,463 NOI
- About 30% potential rental upside
- Soft-story retrofit completed; copper re-pipe in 2005
- Possible ADU conversion of the tuck-under parking, subject to approvals
- 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 12-unit apartment building located at 3739 Mentone Avenue in the highly desirable Palms neighborhood of Los Angeles, California, just north of Venice Boulevard and east of Overland Avenue. Built by the Seller’s family, this multifamily property offers an attractive investment opportunity with approximately 30% potential rental upside and additional possibilities for accessory dwelling unit (ADU) conversions. The property features a unit mix of one studio, nine one-bedroom apartments, and two two-bedroom apartments. A soft-story retrofit has been completed, along with a copper re-pipe in 2005. On-site amenities include laundry facilities, rear tuck-under parking, and front surface parking, with the potential to convert the tuck-under parking area into multiple ADUs, subject to feasibility and necessary approvals. Residents enjoy convenient access to the Palms Metro E Line, the 10 and 405 freeways, and nearby commercial corridors, while Downtown Culver City, Media Park, Woodbine Park, and a variety of restaurants, shops, and entertainment destinations are all within easy reach. With approximately 30% potential rental growth, completed seismic retrofit work, and additional value creation opportunities through potential ADU conversions, the property presents a compelling value-add investment opportunity in prime Palms.
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