3744 KEYSTONE AVE
Value-add 15-unit apartment building at 3744 Keystone Avenue in the Palms neighborhood of Los Angeles, offered at $3,725,000 at a 5.09% cap ($189,689 NOI). The property is a single building with an unusual mix of one guest unit, eight one-bedrooms, five two-bedrooms, and one three-bedroom. The marketing materials cite roughly 50% potential rental upside.
Built in 1966, the 10,461 SF building sits on a 10,775 SF lot zoned LAR3. Completed capital work includes a soft-story retrofit, a new roof in 2021, a copper re-pipe in 2004, and a new main electrical panel. Residents have on-site laundry and rear tuck-under parking, which may allow for ADU conversions, subject to feasibility and approvals.
The property is just north of Venice Boulevard and east of Overland Avenue. It is close to the Palms Metro E Line, the 10 and 405 freeways, and Downtown Culver City, as well as nearby parks, retail, dining, and entertainment. The seller's family built the property. The APN is 4314-002-027.
- 15 units: one guest unit, eight 1BR, five 2BR, one 3BR
- About 50% potential rental upside
- Soft-story retrofit complete, new roof (2021), copper re-pipe (2004), new main electrical panel
- Tuck-under parking that may support multiple ADU conversions, 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 15-unit apartment building located at 3744 Keystone 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 50% potential rental upside and a diverse unit mix comprising one guest unit, eight one-bedroom apartments, five two-bedroom apartments, and one three-bedroom apartment. The property features several completed capital improvements, including a soft-story retrofit, a new roof installed in 2021, a copper re-pipe completed in 2004, and a new main electrical panel. Residents benefit from on-site laundry facilities and rear tuck-under parking, which may present opportunities for multiple accessory dwelling unit (ADU) conversions, subject to feasibility and necessary approvals. The property also enjoys convenient access to the Palms Metro E Line, the 10 and 405 freeways, Downtown Culver City, nearby parks, and a variety of retail, dining, and entertainment destinations along the surrounding commercial corridors. With approximately 50% potential rental growth, a versatile unit mix, completed capital improvements, and additional value creation opportunities through potential ADU development, the property presents a compelling value-add investment opportunity in prime Palms.
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