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Diego Magdaleno

1Vision Real Estate

diego@1visionproperties.com +1(714) 676-7271

$1,950,000

Est. payment - /mo

15 Beds

14 Baths

7,872 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 7,872 sqft

Price per Sqft $247

MLS Listing ID 25550181

Bedrooms 15

HOA Y/N No

Year Built 1957

Lot Size 8,237 Sqft

Lot Dimensions Assessor

Property Description

We are pleased to present this 8-unit multifamily asset located in 3849 Stevely Ave, featuring strong in-place income, major upside potential, and immediate proximity to one of the city's most transformative new developments. Just steps from 5035 W. Coliseum Streetsite of the nation's first Costco-anchored mixed-use developmentthis six-story project will include 800 residential units (184 designated affordable), a full-service Costco offering produce, pharmacy, optical, and delivery services, and dedicated community programming for families and seniors. Leveraging AB2011 fast-track zoning, the project is expected to generate up to 400 local jobs and revitalize the surrounding area. The property features recent capital upgrades, including new Siemens electrical panels, a newer roof, updated flooring, and a modern water heater. With an in-place 4.82% cap rate (10.78 GRM), there's an estimated 44% upside through rent increases, pushing performance to an 8.79% cap rate. An opportunity exists to add an ADU, which could further improve returns to a projected 5.38% cap and 9.94 GRM after construction. In addition to the Costco project, the property sits near the $700M Baldwin Hills Crenshaw Plaza redevelopment bringing 961 new residences, a hotel, offices, retail, and restaurants placing this asset squarely in the path of major economic and residential growth. Contact us today to request the OM or schedule a private tour.

Location

State CA

County Los Angeles

Area Phht - Park Hills Heights

Zoning LAR3

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplace No

Exterior

Parking Features Attached Carport

Attached Garage Yes

Total Parking Spaces 6

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5030003026

Special Listing Condition Standard

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Listed by Kelly Morgan • KW Advisors

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3849 Stevely AVE Los Angeles, CA 90008