13
See all 13 photos
$1,600,000
Est. payment /mo
15 Beds
14 Baths
7,872 SqFt
Price Dropped by $350K
3849 Stevely AVE Los Angeles, CA 90008
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 7,872 sqft
Price per Sqft $203
MLS Listing ID 25550181
Bedrooms 15
HOA Y/N No
Year Built 1957
Lot Dimensions Assessor
Property Description
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 6.02% cap rate (8.95 GRM), there's an estimated 55% upside through rent increases. Property has two vacancies.An ADU may potentially be added, which could further improve returns to a projected 7.72% cap and 7.46 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 (184 designated affordable), 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 redevelopmentbringing 961 new residences, a hotel, offices, retail, and restaurantsplacing this asset squarely in the path of major economic and residential growth.
Location
State CA
County Los Angeles
Area Phht - Park Hills Heights
Zoning LAR3
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features Attached Carport
Total Parking Spaces 6
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5030003026
Special Listing Condition Standard
Listed by Kelly Morgan Houze Real Estate Management
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