Welcome to 1636 S Longwood Ave, a 100% FULLY LEASED Non Rent Controlled, High End and Massive Brand New 2025 Construction Fourplex with an unheard of cap rate of 6.05%, yearly gross income of $226,680 and a monthly gross income of $18,890. The area is booming with brand new buildings… Read More and a recent sold comp of 4plex at $3,700,000 nearby making this fourplex very attractive! The property is located in the ultra trendy Mid-City area, just minutes from Culver City, West Adams and highly desirable area due to its centrality and walkability to coffee shops, grocery stores like Target, Sprouts, gyms, shops, entertainment district and many trendy restaurants. The building features an attractive unit mix of Three-4 bedrooms 4.5 baths and 1-3 bedroom 3.5 baths, ranging from 1,593 square feet to 1830 square feet on the biggest unit. The property features 6,845 sq ft of total livable square ft on a 6,592 square feet lot. There is an additional 865 sq ft of buildable area where currently the carport is. This area can potentially be converted to future ADUS in a portion of the area. With a price of $452 price per foot, lower than today's replacement cost, making it easy for someone to manage and collect the rental income and refraining from all the development process. Each unit feature's efficient open floor plans with huge bedrooms, walk in closets, massive balconies and all units have a ton of natural light. All the units features beautiful vinyl flooring with glossy modern white cabinets, quartz white countertops, large islands that have beautiful waterfalls. Moreover, each unit has stainless steel appliances, washer and dryer in unit, designer carrara shower tiles and each unit is separately metered for utilities to lower expenses for a buyer and easy to manage plus the property comes with 1 year builders warranty. This property is perfect for investors, a dream opportunity for 1031 Buyers and anyone that wants to invest in a safe asset at an amazing price and in the heart of Los Angeles. In addition, the luxury building is located just minutes from the Arts District, Helms Bakery, Cumulus which has the famous Whole Foods, Culver City Steps and Ivy Station, which is home to Apple, Amazon Studios, Sony Pictures, HBO, Beats Electronics and many more tech and entertainment companies pouring into the neighborhood and very safe with the police station right across the street! The strong and ultra hot rent desirability and comps are being achieved in this neighborhood, largely due to the by the surrounding tech hubs, providing high-paying salary jobs. Mid-City overall is a very hot market, its centralized location makes it convenient to get all neighborhoods such as Miracle Mile, The Grove, West Hollywood, Beverly Hills, Century City, Culver City, Westside/Beach cities or Downtown within minutes and much more. . The neighborhood has lots of brand new construction close by, giving a modern and nice vibrant feel to the area. This property has a ton of benefits, some of which are including long-term appreciation along with Depreciation benefits ( buyer to consult with their CPA)! Read Less
Courtesy of Keller Williams Hollywood Hills 310-623-1300
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