$ 1,950,000
-
$1,950,000
Price -
7
Bed -
6
Bath -
7,872
SqFt
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About the Listing CLW-X71068 - CLW-C121229
We are pleased to present this 8-unit multifamily asset located at 3849 Stevely Ave, featuring strong in-place income, major upside potential, and immediate proximity to one of the city's most transformative new developments with the possibility of adding an ADU. 3849 Stevely Ave features recent capital upgrades, including new siemens electrical panels, a newer roof, updated flooring, and a modern water heater. With an in-place 4.82% cap rate (10.78 GRM), there's an estimated 44% upside through rent increases. An ADU may potentially be added, which could further improve returns to a projected 5.38% cap and 9.94 GRM after construction. Tuck-under parking seismic retrofit has been completed. Just steps from 5035 W. Coliseum Street, site of the nation's first Costco-anchored mixed-use development. This six-story project will include 800 residential units, a full-service Costco offering produce, pharmacy, optical, and delivery services, and dedicated community programming for families and seniors. Leveraging AB 2011 fast-track zoning, the project is expected to generate up to 400 local jobs and revitalize the surrounding area. In addition to the Costco project, the property sits near the $700M Baldwin Hills Crenshaw Plaza redevelopment bringing 961 new residences, a hotel, offices, retail, and restaurants placing this asset squarely in the path of major economic and residential growth.
Listing Highlights for 3849 Stevely Ave
Status
Active
Days on Site
88
Property Type
Multi-Family
MLS ®
25550181
Year Built
1957
Total Square Footage
7,872
Lot/Acreage
0.19
County
Los Angeles
Interior Details
- Bedrooms: 7
- Bathrooms: 6 Full
- Appliances:
- Air Cond: Wall/Window Unit(s)
- Heating: Wall Furnace
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 6
- Zoning: LAR3
- Roof:
- Others: 2+ Total Units
- Sewer:
- Parking Features: Attached Carport
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 5030003026
- Tax Year: N/A
Payment Calculator
Monthly Payment
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- in Taxes
Years
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Listing Location
Questions About..
3849 Stevely Ave Los Angeles, CA 90008
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