8-unit in Culver City nearby Sony Studios and across from Culver City Hall + Police

4065 Duquesne Avenue, Culver City, CA

   SOLD!   

$3,160,000

Price

3.36%

Cap Rate

5.39%

Pro Forma Cap Rate

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Street
Map
Overview
Cap Rate
3.36%
Pro Forma Cap Rate
5.39%
NOI
$106,142
Building Size
6,018 sqft
Lot Area
8,105 sqft
Occupancy
100%
Class
C
Units
8
GRM
17.97
Year Built
1949
Price Per Sqft
$525
Price Per Unit
$395,000
Zoning
R4
Floors
2
Parking Spots
8
Construction Status
existing
Parking Ratio
11
Investment Strategy
Value Add
Description

The Growth Investment Group are proud to exclusively offer 4065 Duquesne Ave, a beautifully located 8-unit garden style apartment investment opportunity located in the City of Culver City, CA. Located in arguably one of the best locations in Culver City; across from Culver City Hall and Culver City Police station, and within walking distance Sony Studios, downtown Culver City, Amazon Studios, Southern California Hospital, and shopping along Culver Blvd and Venice Blvd, this rare opportunity provides an extremely attractive investment options to a qualified and lucky buyer.

Built in 1949, this is the first time this property has ever been offered for sale since 1981 (40 years). Long time owned for 30+ years; the investment offers significant upside potential. The property has a total building size of 6,018 SF on a ±8,105 SF lot (R4 zoning). It consists of 2 buildings and 8 x 1bedroom+1bathroom units. Each unit is spacious and bright with excellent layout. Some units have laundry hookups. Each unit has original hardwood floor, dining room, tiled kitchen countertops, smooth ceiling, and individual water heater. One unit has an updated kitchen with quartz countertops, kitchen backsplash and dishwasher. Each unit has an individual water heater and separately metered for electricity and gas.

The property has a shared laundry room. Parking is provided by 6 garages (rented to tenants) and 2 open space parking. Most tenants in this community are long time tenants that are on month to month. Additional significant rental upside can be realized when units turn in the future.

LOCATION AMENITIES AND ACCESS
The property is located across from Culver City Hall and within Culver City downtown district. It is steps away from Sony Studios and within walking distance to Amazon Studios and flurries of restaurants, shopping centers, entertainment venues along Culver Blvd and Venice Blvd. Culver City Park are 2 blocks away. It offers excellent access to FWY 10 and FWY 405. It is also within minutes from Venice Beach and Marina Del Rey. Culver City, CA – part of the west side of Los Angeles known as “Silicon Beach,” which is home to nearly 500 tech startups, Culver City has become a cultural hub, combining the best elements of art, film, tech, and food.

Highlights
  • First time offered for sale since 1981 (40 years)!
  • Prime Value add apartment investment with significant rental upside potential
  • Walker’s Paradise! Walk Score 92!
  • LOCATION, LOCATION, LOCATION! Prime Class A+ location; across the street from Culver City Hall and Culver City Police, and walking distance to Sony Studios, downtown Culver City and Amazon Studios
  • Excellent demographics location with ±$104,795 average household income within a mile radius
  • Excellent access to FWY 10 and FWY 405; within minutes to Venice Beach and Marina Del Rey
  • Two story garden style apartments in an excellent location
  • Laundry hookups in some units, original hardwood floorings, individual water heater
  • Garage parking; R4 Culver City zoning lot
  • Bright and spacious units (est. ±750sf/unit) with excellent layouts
  • Separately metered for electricity and gas, shared laundry room
Documents
Title
Flyer-4065_Duquesne.pdf
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Location
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