Address
3996 Wade Street Los Angeles, CA
Price
$ 5,500,000
Property Attributes
  • MLS#PW21260863
  • TypeIncome
  • CountyLOS ANGELES
  • CityLos Angeles
  • AreaPalms - Mar Vista
  • Zip90066
  • Style
  • Price$ 5,500,000
  • Bedrooms20
  • Full Bathrooms18
  • Half Bathrooms0
  • Sqr Footage11008
  • Lot Size12,336 SqFt
Listing Provided Courtesy Of:
Steven Bogoyevac with Steven M. Bogoyevac, Broker - 562-257-1231
Data Source:
California Regional MLS (CRMLS)
Property Description

Portfolio sale of 3996 Wade Street and 12629 Washington Street in Los Angeles, California. The buildings offer a combined 14 units on two contiguous parcels and over 66 percent potential upside in rents in a strong rental area: the properties are located on the border of the Mar Vista and Culver-West neighborhoods, and just two miles directly up the street from the Venice Pier. 3996 Wade Street is a 1958 construction two-story building on a corner lot with a mix of eight one-bedroom/one-bath units and two two-bedroom/one-bath units. The building also offers 10 tuck-under parking spaces and five additional tandem surface spaces. Next door, 12629 Washington Place is a 1956 construction two-story fourplex with all two-bedroom/two-bath units with spacious floorplans that average over 1,000 square feet. The building also features four single-car garages and a second-floor deck above the garages. Both assets present major value-add opportunities: current rents at 3996 Wade Street are 64 percent below market, and current rents at 12629 Washington Place are 72 percent below market. There is strong preference to sell these properties together, however the assets may be acquired separately contingent upon the simultaneous sale of the other.

Price History
12/7/2021 Listed $5,500,000

General Features

Additional Parcels Description 4235006011
Additional Parcels Y/N Yes
Carport Spaces 10
Carport Y/N Yes
Co-Listing Agent State License # 01928739
Co-listing Agent David O'Keefe - BRE#01928739
Community Features Urban
Garage Spaces 4
Garage Y/N Yes
Listing Agent Steven Bogoyevac - BRE#01332755
Listing Agent State License 01332755
Lot Size Square Feet 12336
MLS Area C13 - Palms - Mar Vista
Open Parking Spaces 5
Pool Features None
Property Type Residential Income
Senior Community Y/N No
Sewer Public Sewer
Special Listing Conditions Standard
Status Active
Terms Cash, Cash to New Loan
Total Units 14
Zoning LAR3

Interior Features

Common Walls No Common Walls
Laundry Features None

Exterior Features

Lot Features Corner Lot
Lot Size Acres 0.28
Lot Size Area 12336
Lot Size Source Assessor
Lot Size Units Square Feet
Number of Buildings 2
Number of Separate Electric Meters 14
Number of Separate Gas Meters 14
Total Parking 19
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Income Average in 90066

Price
AVG $2.86M
$5.5M
Visits
AVG 71
42
Year Built
AVG 1950
1958
Walkscore
AVG 85
88
Data Provided by Walkscore ® not using MLS data