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3631 Motor Ave - 3631 Motor Avenue

4 Unit Apartment Building Offered at $4,124,177 CAD at a 2.85% Cap Rate in Los Angeles, CA 90034

Investment Highlights

  • 3 stand-alone houses and 1 apartment over garages
  • Development Opportunities
  • Tier 3 TOC designation

Executive Summary

Pride of ownership four-unit building on Motor Avenue in the heart of Palms. Three stand-alone homes, each with their own water heaters, mini split air conditioning and heating units, and washer/dryer hook-ups and a fourth unit over the rear garages. The updated front house has two bedrooms and one bath and the unit over the garages also has two bedrooms and one bath. The other two units each have one bedroom and one bathroom and one of the units was recently renovated. Four garage spaces off the rear alley plus a store room that is used by the owner. Each unit is separately metered for gas and electricity and the owner pays for water and gardener. The lot is 7,500 square feet (50’ X 150’) to a 20’ alley and the zoning is MU-EC (Mixed Use – Exposition Corridor), which may allow for significant development opportunities. Buyers are encouraged to check with the city of LA for more information on allowed uses, allowed maximum height, and density bonuses. The property has a Tier 3 TOC designation. Please do not walk the property or disturb the tenants. The units can be shown only with an accepted offer. Individual unit square footage is approximate.

Financial Summary (Actual - 2023)

Annual (CAD) Annual Per SF (CAD)
Gross Rental Income $187,551 $67.15
Other Income - -
Vacancy Loss $5,626 $2.01
Effective Gross Income $181,925 $65.14
Taxes $51,552 $18.46
Operating Expenses $12,856 $4.60
Total Expenses $64,408 $23.06
Net Operating Income $117,516 $42.08

Financial Summary (Actual - 2023)

Gross Rental Income (CAD)
Annual $187,551
Annual Per SF $67.15
Other Income (CAD)
Annual -
Annual Per SF -
Vacancy Loss (CAD)
Annual $5,626
Annual Per SF $2.01
Effective Gross Income (CAD)
Annual $181,925
Annual Per SF $65.14
Taxes (CAD)
Annual $51,552
Annual Per SF $18.46
Operating Expenses (CAD)
Annual $12,856
Annual Per SF $4.60
Total Expenses (CAD)
Annual $64,408
Annual Per SF $23.06
Net Operating Income (CAD)
Annual $117,516
Annual Per SF $42.08

Property Facts

Price $4,124,177 CAD
Price Per Unit $1,031,044 CAD
Sale Type Investment
Cap Rate 2.85%
Gross Rent Multiplier 22
No. Units 4
Property Type Multifamily
Building Size 2,793 SF
No. Stories 2
Year Built 1942
Parking Ratio 1.43/1,000 SF

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1 2 $4,188 CAD 850
1+1 2 $3,626 CAD 550
Walk Score ®
Very Walkable (89)
Bike Score ®
Very Bikeable (85)
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
4314-008-010
Land Assessment
$1,225,866 CAD (2024)
Improvements Assessment
$306,460 CAD (2024)
Total Assessment
$1,532,327 CAD (2024)
Annual Taxes
$51,552 CAD ($18.46 CAD/SF)
Tax Year
2023

zoning

Zoning Code MU-EC
MU-EC
  • Listing ID: 31160279

  • Date on Market: 2024-03-08

  • Last Updated:

  • Address: 3631 Motor Ave, Los Angeles, CA 90034

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