Property Detail

Description

We are pleased to present a twenty-three (23) unit apartment building located at 3340 Overland Ave in Los Angeles, California. The subject property is located in a prime Palms location, right along Overland Ave and north of Palms Blvd. Located in the heart of Palms, this 23-unit multifamily property offers a compelling combination of existing income, rental upside, and future development potential. The unit mix comprises two (2) studios, twenty (20) one-bedroom units, and one (1) two-bedroom unit, with approximately 40% potential rental upside. Situated on a large 18,199-square-foot double lot, the property may offer opportunities for ADUs, including conversion of tuck-under parking, or ground-up development on the adjacent lot, subject to approvals. Improvements include a completed soft-story retrofit and a 2004 copper re-pipe. Residents benefit from on-site laundry, a rear pool, and parking. The location provides convenient access to the Palms Metro E Line, the 10 and 405 freeways, Culver City, and nearby retail and dining. With approximately 40% potential rental upside, an 18,199-square foot double lot, and possible ADU or development opportunities, the property offers multiple paths to add value in a prime Palms location. ***PLEASE NOTE: Property is part of a 9-building portfolio. Building may be sold individually or as a portfolio.