Property Detail

Description

Presenting 3833 Beethoven Street, a well-located 3-unit multifamily investment opportunity in the desirable Mar Vista neighborhood of Los Angeles. Offered at $1,450,000, the property features approximately 2,112 SF of building area situated on a 5,256 SF lot. Built in 1949, with the rear building constructed in 1964 per ZIMAS, the property consists of (2) 1-bedroom/1-bathroom rear units and (1) detached 2-bedroom/1-bathroom front house. The two rear units are 612.5 SF each (1,225 SF combined), and the detached front house is 887 SF, for a total property area of 2,112 SF, offering an attractive unit mix in a highly sought-after Westside rental market. The property generates $103,020 in annual scheduled gross income, providing investors with a 4.87% current cap rate and 14.07 GRM. With approximately 11% rental upside, projected annual scheduled income increases to $114,000, resulting in a 5.59% pro forma cap rate and 12.72 GRM. This opportunity allows investors to benefit from existing rental income while capturing additional value through future rent growth. Located in the heart of Mar Vista, the property offers convenient access to Venice, Culver City, Santa Monica, and the greater Westside employment centers. Its desirable residential setting, three-unit configuration, and income potential make 3833 Beethoven Street an appealing opportunity for investors seeking long-term appreciation and rental growth. The property may also appeal to an owner-user looking to occupy one unit while generating income from the remaining residences, subject to applicable tenancy and occupancy