13
See all 13 photos
$1,950,000
Est. payment /mo
15 Beds
14 Baths
7,872 SqFt
New
3849 Stevely AVE Los Angeles, CA 90008
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,872 sqft
Price per Sqft $247
MLS Listing ID 25550181
Bedrooms 15
HOA Y/N No
Year Built 1957
Lot Size 8,237 Sqft
Lot Dimensions Assessor
Property Description
We are pleased to present this 8-unit multifamily asset located in 3849 Stevely Ave, featuring strong in-place income, major upside potential, and immediate proximity to one of the city's most transformative new developments. Just steps from 5035 W. Coliseum Streetsite of the nation's first Costco-anchored mixed-use developmentthis six-story project will include 800 residential units (184 designated affordable), a full-service Costco offering produce, pharmacy, optical, and delivery services, and dedicated community programming for families and seniors. Leveraging AB2011 fast-track zoning, the project is expected to generate up to 400 local jobs and revitalize the surrounding area. The property features recent capital upgrades, including new Siemens electrical panels, a newer roof, updated flooring, and a modern water heater. With an in-place 4.82% cap rate (10.78 GRM), there's an estimated 44% upside through rent increases, pushing performance to an 8.79% cap rate. An opportunity exists to add an ADU, which could further improve returns to a projected 5.38% cap and 9.94 GRM after construction. In addition to the Costco project, the property sits near the $700M Baldwin Hills Crenshaw Plaza redevelopment bringing 961 new residences, a hotel, offices, retail, and restaurants placing this asset squarely in the path of major economic and residential growth. Contact us today to request the OM or schedule a private tour.
Location
State CA
County Los Angeles
Area Phht - Park Hills Heights
Zoning LAR3
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features Attached Carport
Attached Garage Yes
Total Parking Spaces 6
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5030003026
Special Listing Condition Standard
Listed by Kelly Morgan • KW Advisors