4546 St Elmo Dr is a gorgeously renovated, pride-of-ownership fourplex located in red-hot Mid City, only a few minutes from Downtown Culver City! This designer fourplex is made up of four expansive 2 bedroom, 1 bath units (all 1,223 square feet!) that boast modern kitchens and bathrooms. This unique property blends the charm and character of the 1920’s with sleek, upscale elements! Between the unbeatable location (Mid-City is the hottest rental market in town) and the size and beauty of these units, 4546 St Elmo is a renter’s dream come true. Priced at only $388 per SF in a market with comps averaging $472 per SF- this deal is priced to fly! The current cap rate is an outstanding 4.00%- and the building comes with massive upside. We conservatively project a pro forma cap rate of 5.53%. With the massive influx of new construction properties on every surrounding street, we predict rents will continue to go up rapidly in this pocket! Other notable features include: washers and dryers provided for each unit, stainless steel appliances throughout, new exterior paint, new/newer water heaters, wonderful existing tenants that pay on time, a large rear parking lot with 4 parking spaces, a front patio area, a rear garden area, and a back patio and storage unit. It is located 10 minutes from Downtown Culver City and the countless local hotspots, including the trendy Helms Bakery District, the Culver City Steps (Amazon Studios), Ivy Station (HBO headquarters), and the Cumulus District (Whole Foods). This area boasts a huge quantity of entertainment, tech, and creative jobs- ideal for easy leasing!
|
DAYS ON MARKET
|
103
|
LAST UPDATED
|
10/4/2022
|
|
YEAR BUILT
|
1928
|
COMMUNITY
|
Mid Los Angeles
|
|
COUNTY
|
Los Angeles
|
STATUS
|
Sold
|
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
| APPLIANCES |
Dishwasher, Dryer, Gas Oven, Gas Range, Refrigerator, Washer |
| AREA |
Mid Los Angeles |
| FIREPLACE |
Yes |
| GARAGE |
One Space |
| HOA DUES |
0 |
| INTERIOR |
Ceiling Fan(s), High Ceilings, Open Floorplan |
| LOT |
7003 sq ft |
| LOT DESCRIPTION |
Landscaped, Level, Rectangular Lot, Yard |
| PARKING |
One Space |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
2 |
| TAXES |
22317 |
| WATER |
Public |
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Listed with The 2-4 Unit Specialists
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 4/26/24 5:54 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2024.
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