Residential Income – 3501 Jasmine Ave, Los Angeles, CA 90034, USA -001-11-30T00:00:00-08:00
Marcus and Millichap is pleased to present 3501 Jasmine Avenue, an 18-unit off-campus studenthousing apartment building located in the Palms neighborhood of Los Angeles. From this locationtenants can enjoy easy access to the 405 and I-10 freeways and the Nat
3501 Jasmine Ave, Los Angeles, CA 90034, USA
$12,350,000 USD
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Address3501 Jasmine Avenue, Los Angeles
Price$12,350,000
Year Built1987
Bedrooms Total0
Living Area21,295
Lot Size (Sq.Ft.)12,942
Listing ID19434136
StatusActive
Parcel Number4314014028
ZoningLAR3
Special ConditionsStandard
Days on Market33

Detailed Description: Marcus and Millichap is pleased to present 3501 Jasmine Avenue, an 18-unit off-campus studenthousing apartment building located in the Palms neighborhood of Los Angeles. From this locationtenants can enjoy easy access to the 405 and I-10 freeways and the National / Palms Boulevard ExpoLine is within a 5-minute walk. With a slew of new bars and restaurants popping up in the immediatearea, residents can experience casual dining and nightlife with significant convenience. Collegestudents who attend UCLA often choose to live in the Palms area due to the proximity to the UCcampus, which is only five miles north. The property, built in 1987, is 21,295 square-feet and sits on a 12,943 square-foot lot. The buildingoffers nine two-bedroom / two-bathroom units, five three-bedroom / three-bathroom units, three fourbedroom / three-bathroom units and one five-bedroom / four-bathroom unit.

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Address Information
Address3501 Jasmine Avenue, Los Angeles
Street SuffixAvenue
CityLos Angeles
Location (MLS Area)C13 – Palms – Mar Vista
County Or ParishLos Angeles
State or ProvinceCA
Postal Code90034
Financial Information
Price per Square Foot$579.95
Price per Lot Square Foot$954.26
Special ConditionsStandard
Total Expenses$269,254
Gross Operating Income$752,268
Net Operating Income$498,686
Gross Multiplier15.76%
Improvements Amount$1,375,833
Land Value$481,535
Tax Year2000
Full Descriptions
Parcel Number4314014028
Detailed DescriptionMarcus and Millichap is pleased to present 3501 Jasmine Avenue, an 18-unit off-campus studenthousing apartment building located in the Palms neighborhood of Los Angeles. From this locationtenants can enjoy easy access to the 405 and I-10 freeways and the National / Palms Boulevard ExpoLine is within a 5-minute walk. With a slew of new bars and restaurants popping up in the immediatearea, residents can experience casual dining and nightlife with significant convenience. Collegestudents who attend UCLA often choose to live in the Palms area due to the proximity to the UCcampus, which is only five miles north. The property, built in 1987, is 21,295 square-feet and sits on a 12,943 square-foot lot. The buildingoffers nine two-bedroom / two-bathroom units, five three-bedroom / three-bathroom units, three fourbedroom / three-bathroom units and one five-bedroom / four-bathroom unit.
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Property parameters
Year Built1987
Living Area (Sq.Ft.)21,295
Lot Size (Sq.Ft.)12,942
Lot Size (Acres)0.297
Number of Buildings1
Number of Units Total18
ZoningLAR3
Stories Total2
Units Total18
Cap Rate (For Cash Payment Only)4.04
Listed withRichard Ringer (Richard J. Ringer Inc.)