Property Detail

Description

This 9-unit multifamily investment is located immediately adjacent to Culver City in the highly desirable Palms submarket of West Los Angeles. Built in 1969, the property remains largely in original condition, offering new ownership a clear, straightforward value-add strategy. The unit mix includes two studios, two one-bedroom/one-bathroom units, one two-bedroom/one-bathroom unit, three two-bedroom/one-and-one-half-bathroom units, and one three-bedroom/two-bathroom unit. One two-bedroom unit is currently vacant, giving buyers an immediate opportunity to renovate and reset rent to market. Current in-place rents trail underwritten market rents by a meaningful margin, representing embedded upside that can be captured over time through natural tenant turnover and a cohesive renovation program, without disrupting existing occupancy. The asset is being offered free and clear. Location is a core driver of this opportunity. The property sits just steps from Culver City and Sony Pictures Studios, and roughly a seven-minute walk from the Palms Metro E Line Station, offering car-free access to Downtown Culver City, Santa Monica, and Downtown Los Angeles. Residents also benefit from proximity to Apple's expanding Culver City campus, Amazon MGM Studios, and destination developments like Ivy Station, Culver Steps, and The Platform all contributing to strong, durable rental demand from a well-compensated tenant base in one of LA's premier live-work-play submarkets. The immediate Palms submarket continues to see healthy investor demand for well-located value-add product, supported by strong comparable rents for renovated one- and two-bedroom units in the surrounding area.3747 Mentone Avenue offers investors a rare combination of an irreplaceable West LA location, genuine value-add upside, and a straightforward path to stabilized returns an ideal acquisition for buyers seeking long-term appreciation in a supply-constrained submarket.