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6 Units in Atwater Village | 4 VACANT 3406 Garden Ave

6 Unit Apartment Building $3,067,652 CAD ($511,275 CAD/Unit) 6.24% Cap Rate Los Angeles, CA 90039

Investment Highlights

  • Eric Dilanian & The Dilanian Real Estate Advisors Present a 6-unit mid-century multi-family property located in the heart of Atwater Village
  • (5) 2 Story Town-Home Style 2 Bed +1.5 Bath Units and (1) Corner Unit with 2 Bed +1 Bath
  • Considered Very Walkable with a score of (89), Where Daily Errands Do Not Require a Car!
  • 4 Units Delivered VACANT - Ready for Full Rehab and Market Rents
  • ±5,963 SF and Situated on a ± 6,752 SF Lot
  • ADU: Opportunity to Add an ADU - Buyer to Verify

Executive Summary

Eric Dilanian and The Dilanian Real Estate Advisors of RE/MAX Commercial & Investment Realty, are pleased to present for sale this rare (6) Unit mid-century investment opportunity in one of LA’s Hottest Locations – Atwater Village! Delivered 67% VACANT (4 of 6), this opportunity is offered for sale for the first time in over 49 years. The building is constructed in 1965, and consist of a robust unit mix of (5) 2 Story Town-Home Style Units with 2 Bed & 1.5 Bath Units and (1) Corner Unit with 2 Bedrooms & 1 Bath. It boasts a total building size of ±5,963 SF and situated on a lot size of ±6,752 SF. The property is nestled in a residentially zoned community and is well parked, with (6) spaces available.
The investment is poised for an astute investor looking to add value by immediately adding up to (1) ADU Units by right (Buyer to verify feasibility of adding ADU’s). The subject property is zoned R1-1-RIO with Soft-Story Retrofit Completed, and Certificate of Compliance Received.
The investment is strategically located in the epicenter of North East LA’s Hotspot of Atwater Village, where tenants have access to NELA best retail corridor of Glendale Blvd. Walk-Score of 89,considred very walkable, where most errands can be accomplished on foot.
Disclosure: Buyer to conduct any/all due diligence including but not limited to the building square footage, lot size, legal bedroom/bathroom count, parking count, unit mix, year built, zoning, market rents, Soft-Story Compliance, and the ability to construct ADU(s) or additional units.
DO NOT DISTURB TENANTS OR WALK ON PROPERTY - DRIVE BY ONLY.

Property Facts

Price $3,067,652 CAD
Price Per Unit $511,275 CAD
Sale Type Investment
Cap Rate 6.24%
Gross Rent Multiplier 10.57
No. Units 6
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.16 AC
Building Size 5,963 SF
No. Stories 2
Year Built 1965
Parking Ratio 1.01/1,000 SF

Unit Amenities

  • Air Conditioning
  • Kitchen
  • Oven
  • Tub/Shower

Site Amenities

  • 24 Hour Access
  • Walk-Up
  • Smoke Detector

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1.5 5 - -
2+1 1 - -
Walk Score ®
Very Walkable (89)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
5437-006-010
Land Assessment
$74,642 CAD
Improvements Assessment
$232,616 CAD
Total Assessment
$307,258 CAD

zoning

Zoning Code LAR1
LAR1
  • Listing ID: 33467040

  • Date on Market: 2024-10-09

  • Last Updated:

  • Address: 3406 Garden Ave, Los Angeles, CA 90039

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