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4711 St Elmo Drive
USD 2,049,800
Property ID: 24350801
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4711 St Elmo Drive ,90019
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icon 6441 SqFt
icon Built in 1902
icon USD 318/SqFt
icon 5 Beds
icon 5 Full
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Location Street View
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Interior Details
Bedrooms
5
Bathrooms
5
Interior Size
2503
Construction Details
Property Type --
Property Condition --
Architectural Style --
New Construction --
Year Built 1902
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Detailed Introduction Of This Home
LEASED ALL UNITS WITHIN 30 DAYS! ALL RENTS ARE CURRENT WITH ACTUAL 5.3% CAP AT CLOSING. Presenting an unparalleled investment opportunity in the best part of Mid City, this extraordinary income property is a brand-new 2024-built 4-plex with a projected cap of approximately 6.3%. The meticulously crafted units offer a blend of luxury and innovation, providing a unique living experience with breathtaking views of Century City and Hollywood. Comprising three exquisitely designed 1-bedroom units and one lavish 2-bedroom unit, each residence has been remodeled to the highest level of finishes.This property stands out as a completely rebuilt front duplex, featuring two brand-new 2024-built accessory dwelling units (ADUs), and it includes a shovel-ready 5th unit with the permit paid. All units are currently leased within less than 30 days on the market, producing a current cap rate of approximately 5.3%. With the addition of the potential 5th unit, the projected cap rate is set to exceed 6% once completed. This makes it the only available new construction 4-unit apartment in the 2M range in the prime location of Mid City.The property is poised for immediate cash flow and is an obvious choice for 1031 Exchange buyers, as it can be delivered leased. The meticulous attention to detail includes a total gut remodel with new roof, power, plumbing, AC, and soundproof walls. Structural integrity is reinforced with added support for the foundation, including bolting and shear wall all around the property. Moreover, to ensure the safety and security of the premises, security cameras have been strategically installed.Projected to gross high income with minimal maintenance, these units attract Class-A tenants with high-income producing jobs, thanks to their proximity to trendy locations near Culver City and Beverly Hills. These are not your average new construction apartments; the thoughtful design, solid finish, and layout allow tenants to easily envision their living space, facilitating quick decisions. Seize this chance to own a portfolio that combines aesthetic excellence with a strategic location, promising both immediate cash flow and long-term prosperity.
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Contact Development/Agent
Cissy Tang
TEL: (+1)626 9868**** icon
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Contact Development/Agent
icon
Cissy Tang
(+1)626 9868**** icon
Please enter your nationality
+87
Cannot be empty
Email address is invalid Email address not authenticated!
Cissy Tang
(+1)626 9868**** icon
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Photos (40)
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4711 St Elmo Drive
USD 2,049,800 5 Beds
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