Address
3907 Roxanne Avenue Los Angeles, CA
Price
$ 2,750,000
Property Attributes
  • MLS#21779598
  • TypeIncome
  • CountyLOS ANGELES
  • CityLos Angeles
  • AreaPark Hills Heights
  • Zip90008
  • Style
  • Price$ 2,750,000
  • Bedrooms12
  • Full Bathrooms12
  • Half Bathrooms0
  • Sqr Footage10128
  • Lot Size10,224 SqFt
Listing Provided Courtesy Of:
Neema Ahadian with Marcus & Millichap
Data Source:
Combined LA/Westside MLS (CLAW) - 318 - CA
Property Description

EXECUTIVE SUMMARY3907 Roxanne Ave is an attractive 12-unit gated apartment community located in Baldwin Village. The property consists of nine spacious one-bedrooms and three two-bedrooms. The living rooms are above average in size with large windows and layouts. The building has been well-kept throughout the years with recent exterior paint, common area courtyard with seating and community laundry room with two washers and two dryers. The property features nine gated parking spaces with the soft-story retrofit work already completed. As an investment, this property provides strong cash flow with current CAP rate of 4.28% on current income at the asking price. Additionally, there is over 21% in rental upside for a buyer to achieve through further interior renovations when units turn. The property is being offered with advantageous assumable financing in-place (loan must be assumed). The current lender is Ready-Cap with a 20-year loan, fixed at 3.67% interest until 2024.The property is in the heart of Los Angeles and within minutes of major entertainment and employment hubs in Culver City, LA World Airport, DTLA and Inglewood. There is a significant affordability gap to home ownership in the 90008 zip code as the median home price in the direct area is approximately $871,913 and a typical monthly mortgage payment is considerably more than the average renovated rents at 3907 Roxanne Ave. The building benefits from a centralized location in Baldwin Village minutes from Kaiser Permanente, the Baldwin Hills Crenshaw Plaza Development and the Crenshaw Metro Line. Additionally, Los Angeles World Airports (LAWA) is in the midst of a $14 billion Capital Improvement Program at Los Angeles International Airport (LAX), projected to last through 2023. The LAX modernization program is considered the largest public works program in the history of the City of Los Angeles. Finally, Inglewood's new sports and entertainment complex SOFI Stadium to create 12,000 full- and part-time jobs annually.

Price History
9/4/2021 Listed $2,750,000

General Features

Heating Natural Gas
Listing Agent Neema Ahadian - BRE#01346750
Listing Agent State License 01346750
Lot Size Square Feet 10224
MLS Area PHHT - Park Hills Heights
Property Type Residential Income
Senior Community Y/N No
Special Listing Conditions Standard
Status Active
Total Units 12
Zoning LAR3

Interior Features

Heating Y/N Yes

Exterior Features

Lot Size Acres 0.23
Lot Size Area 10224
Lot Size Units Square Feet
Number of Buildings 1
Parking Features Gated

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Income Average in 90008

Price
AVG $2.39M
$2.75M
Visits
AVG 6
4
Year Built
AVG 1947
1957
Walkscore
AVG 69
54
Data Provided by Walkscore ® not using MLS data

Looking for a more comfortable experience?

Download our mobile app for a personalized browsing experience.

Areas We Cover