3775 Beethoven Street, Los Angeles
Los Angeles Home For Sale
Beethoven Garden Apartments is an exceptional multifamily property that offers an investor immediate value-add upside with substantial future growth. This well-maintained, 3-story, 42-unit property was built in 1989 and is NOT subject to LA City rent control. It is only subject to statewide rent control (AB 1482), which allows an investor the ability to increase rents annually by 5%+CPI for a maximum of 10%. The current CAP Rate is 3.61%, with the capacity to immediately increase a majority of the rent rates by 8.8% for a CAP Rate of 3.95%. There is a further upside should an investor make additional improvements. Beethoven Garden Apartments features an fantastic unit mix. All of the 42 units are sizable two-bedroom, two-bathroom style averaging +/-1,000 square feet. The unit layouts provide for maximum privacy, with a central living room and kitchen separating the bedrooms and bathrooms. The in-unit amenities include gas burning fireplaces, dishwashers, ceiling fans, mirrored closets, central HVAC systems, and private balconies. The community amenities include a central courtyard equipped with a Cabana and BBQ area, an elevator, two laundry facilities, video monitoring, gated entry with intercom and controlled access subterranean garage with 84 parking spaces. Beethoven Garden Apartments is located on a peaceful residential street, west of Centinela Ave. and north of Venice Blvd. This perfect Westside Location is within walking distance to shops, dining, transportation and just minutes to Marina Del Rey, Venice Beach and Santa Monica Pier. Mar Vista, is one of the most upcoming and trendy areas on the Westside. Its preferred location is near major employers and the tech hub of Silicon Beach with notable companies such as Google, Hulu, YouTube, Snap Inc., etc. Beethoven Garden Apartments has a Walk Score of 88/100 (Very Walkable) and a Bike Score of 82/100 (Very Bikeable) It is also within walking distance of Beethoven Elementary, Mark Twain Middle School, and Venice High School. Local transportation options include the MTA Expo Line, the Big Blue Bus line and close access to the 405, 10 and 90 Freeways and Pacific Coast Highway. In summary, Beethoven Garden Apartments located in Mar Vista, one of the most sought-after Westside coastal submarkets of Los Angeles, offers an investor the opportunity to acquire an ideally located, very desirable multifamily community with immediate upside.
Property Details
Additional Information
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- City:
- Los Angeles
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- County:
- Los Angeles
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- Zip:
- 90066
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- MLS® #:
- SB24112650
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- Bedrooms:
- 2
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- Bathrooms:
- 2
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- Lot Size:
- 0.77
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- Levels:
- Three Or More
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- Garages:
- 84
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- HOA Dues:
- $
Based on information from California Regional Multiple Listing Service, Inc. as of July 22nd, 2024 at 11:56am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.