11265 PALMS BLVD

LOS ANGELES, CA, 90066

$9,900,000

$385 per ft²
$9,900,000
$385 per ft²
Sold
Sold
beds
40 Beds
baths
24 Baths
carpenters-square
25,688 ft²
property_type
Multi-family
calendar
Built 1947
We are pleased to present 11265-75 Palms Boulevard, a 24-unit apartment building aptly named Palms Pointe Apartments. The property is located in the highly desirable Mar Vista sub-market on the Westside. 11265-75 Palms Boulevard sits on a nearly full acre of land and features an attractive mix of 2-bedroom and 3-bedroom units. With only ten (10) of the twenty-four (24) units renovated, this building presents a tremendous opportunity for a buyer to come in and rehab the remaining fourteen (14) units as they turnover. The previous owner was able to increase rents on the renovated units by nearly 100% after their extensive and high-quality upgrades. Palms Pointe is located just west of the 405 Freeway and is rather unique in that it is situated on an "island" with no adjacent neighbors, which allows for a level of privacy that tenants enjoy. Additionally, the property boasts a beautiful park-like setting with mature trees and separate private garages; there is even a sizeable dog park for the tenants to use with all of their pets! Furthermore, should you want to take advantage of the sizeable lot and pursue the potential to build even more units in the future. The property is zoned R3 and has the potential to allow up to 51 units (buyer to verify). Situated directly across the street from Mar Vista Recreation Center, the Property affords residents with extremely convenient access to nearly 20 acres of outdoor space along with sports, fitness, gathering, and cultural amenities. This proximity to such amenities certainly lends itself to higher rents, especially when the units have been rehabbed to their full potential. For residents looking for some entertainment, there are a plethora of local shopping and dining options very close by. Venice Boulevard is full of delicious local eateries, vibrant Sawtelle Japantown is just a few minutes away, and the bustling neighborhoods of Culver City, Westwood, Century City, and Beverly Hills are just a short drive from the property. If you are an investor looking for an asset with upside in a core Westside market in Los Angeles, look no further.
MLS® ID:
21-111432
Listed:
12/9/21
Updated:
5/18/22

Interior Features

Total Bedrooms
40
Total Bathrooms
24
Cooling
Wall Unit(s)
Heating
Wall

Exterior/Building Features

Lot Size
0.94 acres lot

Other Property Details

Attached Garage
Yes
Garage Spaces
17
Parking
Garage
Parking Total
55.0
View
N
County
Los Angeles
Pool
No
Zoning
LAR3

Property History

Date
Event
Price
Value
4/26/22
Sold
-
-
4/26/22
Price Change
$9,900,000
-7%
4/12/22
Active Under Contract
-
-
1/31/22
Price Change
$10,700,000
-2%
1/5/22
Price Change
$10,995,000
-2%

 

Courtesy of Saadia ''Sam'' Liberow, Marcus & Millichap

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Bulldog Realtors shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2022 Combined L.A./Westside MLS. All rights reserved.

Data last updated 5/18/22

Contact