3996 Wade ST

LOS ANGELES, CA, 90066

$5,500,000

$499 per ft²
$5,500,000
$499 per ft²
Active
Active
 - For Sale
beds
5 Beds
baths
4 Baths
carpenters-square
11,008 ft²
property_type
Multi-family
calendar
Built 1958
Portfolio sale of 3996 Wade Street and 12629 Washington Street in Los Angeles, California. The buildings offer a combined 14 units on two contiguous parcels and over 66 percent potential upside in rents in a strong rental area: the properties are located on the border of the Mar Vista and Culver-West neighborhoods, and just two miles directly up the street from the Venice Pier. 3996 Wade Street is a 1958 construction two-story building on a corner lot with a mix of eight one-bedroom/one-bath units and two two-bedroom/one-bath units. The building also offers 10 tuck-under parking spaces and five additional tandem surface spaces. Next door, 12629 Washington Place is a 1956 construction two-story fourplex with all two-bedroom/two-bath units with spacious floorplans that average over 1,000 square feet. The building also features four single-car garages and a second-floor deck above the garages. Both assets present major value-add opportunities: current rents at 3996 Wade Street are 64 percent below market, and current rents at 12629 Washington Place are 72 percent below market. There is strong preference to sell these properties together, however the assets may be acquired separately contingent upon the simultaneous sale of the other.
MLS® ID:
PW21260863MR
Listed:
12/6/21
Updated:
8/10/22

Interior Features

Total Bedrooms
5
Total Bathrooms
4
Laundry Description
None

Exterior/Building Features

Lot Size
0.28 acres lot
Sewer
Public Sewer

Other Property Details

Garage
Yes
Garage Spaces
4
Parking
Y
Parking Total
19.0
View
N
County
Los Angeles
Water Source
Public
Pool
No
Pool Description
None
Zoning
LAR3

 

Courtesy of Steven Bogoyevac, Steven M. Bogoyevac, Broker

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

Data last updated 8/10/22

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