Los Angeles, CA 90063,3820 City Terrace Dr
Los Angeles, CA 90063,3820 City Terrace Dr
Los Angeles, CA 90063,3820 City Terrace Dr
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$1,150,000
Est. payment /mo
4 Beds
4 Baths
2,440 SqFt
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UPDATED:

09/25/2024 02:56 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 2,440 sqft

Price per Sqft $471

MLS Listing ID 24-436003

Bedrooms 4

Year Built 1985

Lot Size 0.322 Acres

Acres 0.3225

Property Description

We are pleased to present for sale 3820 City Terrace Drive, a charming 4-unit multifamily property built in 1985, situated on a large lot in the thriving City Terrace neighborhood of Los Angeles. With a 52.83% potential increase in rental income, this property is an appealing opportunity for investors. This well-maintained property features an ideal unit mix of two 1-bedroom/1-bath units and two 2-bedroom/1-bath units, totaling 2,440 square feet of living space. Situated on a spacious 14,027-square-foot lot, the property includes eight parking spaces, offering the potential for additional income through the addition of Accessory Dwelling Units (ADUs), buyer to verify. The property is separately metered for electricity and gas, helping the owner reduce utility costs. Investors will appreciate the strong tenant profile in this area, where approximately 75% of residents are renters, ensuring a consistent demand for housing. The property's strategic location, just 1.5 miles from LAC + USC Medical Center and Keck School of Medicine, and 2.3 miles from White Memorial Hospital, places it near a major employment hub, further bolstering its rental appeal. 3820 City Terrace Drive is a prime investment opportunity in a thriving market. With significant rent growth potential, the possibility of adding ADUs, and a location that promises strong and consistent demand, this property offers a solid foundation for potential returns. Investors seeking a blend of stability and growth in one of Los Angeles' vibrant neighborhoods will appreciate the strong potential this property offers.

Location

State CA

County Los Angeles

Area East La

Zoning LCR3*

Rooms

Other Rooms None

Interior

Heating Other

Cooling Other

Equipment Other

Exterior

Garage Other

Building

Story 2

Level or Stories Two

Others

Special Listing Condition Standard


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TheMLS (CLAW)
Listed by Marcus & Millichap

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Shawn Kormondy

+1(323) 638-7567

Agent | License ID: 01451888

Agent License ID: 01451888

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