3820 City Terrace Drive, Los Angeles, CA 90063
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Sold Price :
$1,050,000
-
Beds :
4
-
Baths :
4
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Property Size :
2,440 sqft
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Year Built :
1985
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.
Interior Features
| Bedroom Information |
| Bedrooms |
4 |
| Bathroom Information |
| Bathrooms |
4 |
Listing Information
| Address |
3820 City Terrace Drive |
| City |
Los Angeles |
| State |
CA |
| Zip |
90063 |
| County |
Los Angeles |
| Listing Agent |
Oscar Diaz DRE #02022902 |
| Courtesy Of |
Marcus & Millichap |
| Close Price |
$1,050,000 |
| Status |
Closed |
| Type |
Residential Income |
| Structure Size |
2,440 |
| Lot Size |
14,047 |
| Year Built |
1985 |
Listing information courtesy of: Oscar Diaz, Marcus & Millichap. *Based on information from the Association of REALTORS/Multiple Listing as of Dec 27th, 2024 at 10:09 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.
