CA > Los Angeles
Los Angeles, CA 90034,3189 Cheviot Vista Pl
Los Angeles, CA 90034,3189 Cheviot Vista Pl
Los Angeles, CA 90034,3189 Cheviot Vista Pl
26
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$4,850,000
Est. payment /mo
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19 Beds
21 Baths
15,477 SqFt
New

3189 Cheviot Vista Pl Los Angeles, CA 90034

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Carmen Deam

Carmen Deam

+1(702) 969-1900

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 15,477 sqft

Price per Sqft $313

MLS Listing ID 25532523

Bedrooms 19

Construction Status Fixer

Year Built 1973

Lot Size 0.274 Acres

Acres 0.2744

Property Sub-Type Multi-Family

Property Description

We are pleased to present for sale 3189 Cheviot Vista Pl. in Palms Mar Vista of Los Angeles, CA. The offering consists of a 1973 built (LARSO) 21 unit value-add apartment building, not subject to the Measure ULA "Mansion Tax". The property has benefitted from a local family of conscientious operators and their portfolio is professionally managed by Lilly Property Management Co. A brand new $70,000 roof was installed last year. The mix of Studios (4), 1BR/1BA (16) and 2BR/1BA (1) units (ranging from 700 to 800 SF) cater towards a broad rental market. The Studios and 1BR's, which account for 95% of all units, may assist in keeping rents paced with the market during turnover. There is an on-site manager in Unit 104. The building is offered at a reasonable 5.50 CAP / 10.80 X. With approximately 40% rental upside, new ownership may be afforded a path towards a considerable 8.70 CAP / 7.85 X. Tenants will have access to an on-site laundry room, AC wall units, heating units, private patio, and 20 gated parking spaces + 1 uncovered space. Within close proximity is the E Station of the Metro Line in addition to the 10 Freeway National Blvd. off ramp directly next to the property. Also within close proximity is Downtown Culver City, Hayden Tract and Sony Pictures Studios. According to LA County Planning 2023, Palms Mar Vista had a total population of 112,000 people with an average household income of $105,000. 65% of the population were renters. The offering presents an ideal value-add opportunity of operational stability with consistent cash flow and predictable long term appreciation. Furthermore, offering potential ADU avenues for the new owner to explore (buyer to verify). The property will make a strong addition to any investor's portfolio whether they're in acquisition mode or simply looking for an immediate 1031 solution. Property is subject to LARSO. As of May 8, 2025 there are two (2) 1BR/1BA vacancies. No other units will be delivered vacant by Seller upon close of escrow, except those occurring naturally. Property to be sold in as-is condition. Please DO NOT walk the property or disturb the tenants. Text/email LA for OM. Showing upon an accepted offer. Please submit proof of funds and pre-approval with offer.

Location

State CA

County Los Angeles

Area Palms - Mar Vista

Zoning LAR4

Rooms

Other Rooms None

Interior

Heating Wall, Floor

Cooling Wall Unit(s)

Equipment Ceiling Fan, Dishwasher, Garbage Disposal, Hood Fan, Refrigerator, Vented Exhaust Fan

Laundry Laundry Area, Room, Community, Garage

Exterior

Parking Features Assigned, Controlled Entrance, Covered Parking, Gated, Uncovered, Side By Side

Garage Spaces 21.0

Pool None

Waterfront Description None

View Y/N No

View None

Building

Story 2

Level or Stories Three Or More

Construction Status Fixer

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2025 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Lilly Enterprises, Inc.

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Carmen Deam

Realtor | RE.S.0187384

+1(702) 969-1900

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3189 Cheviot Vista Pl