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Listed by Matthew Guerra • KW Executive
$3,995,000
Est. payment /mo
8,678 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 8,678 sqft
Price per Sqft $460
MLS Listing ID AR-26168951
Year Built 2021
Lot Size 9,613 Sqft
Property Sub-Type Apartment
Source California Regional Multiple Listing Service (CRMLS)
Property Description
3324 N Chapman Street presents a prime multifamily investment opportunity in a high-demand Los Angeles rental market. Built in 2022, the property is exempt from both local Los Angeles rent control and statewide AB 1482 (buyers/brokers/agents to verify), providing investors with rare operational flexibility in a supply-constrained housing market. The property offers approximately 32.33% rental upside, allowing new ownership to significantly increase income while enhancing long-term value. The investment is further enhanced by attractive seller financing. The property includes an assumable first loan of approximately $2,200,000 at a 4.5% fixed interest rate through September 2027, and the seller is willing to carry a second position loan with low monthly payments, creating favorable leverage for a new buyer. Additionally, the site provides the potential to develop up to 7 additional units, creating further upside through expansion. The unit mix consists of two spacious 3-bedroom units and six 2-bedroom units. Notably, three of the existing 2-bedroom units were originally designed as 3-bedroom units, and can easily be converted back by adding a wall according to the builder's original plans—providing a straightforward path to increasing rental income. Ideally located near Glendale, Los Feliz, and Atwater Village, the property benefits from proximity to major employment centers, retail, dining, and entertainment throughout the greater Los Angeles area. This is a rare opportunity to acquire a new construction, low-maintenance apartment community with immediate cash flow and substantial future upside in one of Los Angeles' most desirable rental corridors.
Location
State CA
County Los Angeles
Area 623 - Glassell Park
Interior
Laundry Gas & Electric Dryer Hookup, Inside
Exterior
Pool None
Community Features Urban
Utilities Available Sewer Connected, Water Connected, Electricity Connected, Natural Gas Connected
Building
Lot Description 6-10 Units/Acre
Sewer Unknown
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John R Thompson
Broker/Owner | License ID: 01200900
Broker/Owner License ID: 01200900