3852 Prospect Avenue

About this property

3852 Prospect Avenue presents an exceptional opportunity to acquire a four-unit value-add multifamily property located in one of Culver City's most desirable submarkets. Originally constructed in 1926, this vintage apartment community offers investors a rare combination of oversized floorplans, timeless architectural character, and meaningful embedded rental upside all within a highly walkable, transit-oriented Westside location. The property totals approximately 3,512 gross square feet situated on a generous 7,502-square-foot lot, featuring a unit mix of one spacious one-bedroom, one-bathroom residence and three two-bedroom, one-bathroom units. Each unit offers the added convenience of an in-unit washer and dryer, a highly sought-after amenity that distinguishes the property from competing vintage multifamily product in the submarket.3852 Prospect Avenue remains largely in its original condition, presenting new ownership with a true value-add opportunity to modernize interiors and common areas while preserving the building's 1920s charm. In-place rents currently reflect approximately 20% loss-to-lease, providing substantial organic rental upside in addition to the premiums achievable through a thoughtful renovation program.The property also features a freestanding rear carport with four parking spaces, offering a compelling opportunity to explore an ADU conversion or broader redevelopment strategy, subject to buyer verification and applicable approvals. Combined with the oversized units and generous lot size, the existing configuration provides multiple avenues for enhancing the long-term value of the asset. Beyond its physical attributes, 3852 Prospect Avenue benefits from an exceptional Culver City location surrounded by one of the Westside's most significant concentrations of technology, entertainment, media, and creative employment. Residents enjoy convenient proximity to major employers including Sony Pictures, Amazon Studios, Apple, The Culver Studios, and the Hayden Tract, alongside Culver City's rapidly evolving dining, retail, and lifestyle amenities. The property is located approximately a seven-minute walk from the Palms Metro E Line Station, offering direct connectivity to Downtown Santa Monica, Downtown Los Angeles, and key employment centers throughout the Westside. Culver City has emerged as one of the region's most dynamic rental markets, driven by its central location, expanding employment base, and increasingly vibrant live-work-play environment. High-profile developments such as Ivy Station, Culver Steps, and the Platform, combined with continued corporate expansion throughout the submarket, have introduced thousands of high-paying jobs and reinforced sustained rental demand. Despite this strong demand, the submarket remains undersupplied with high-quality housing an imbalance that continues to support rental strength and long-term rent growth. This offering represents a compelling opportunity for investors seeking to acquire a well-located, character-rich asset with clear paths to value creation through renovation, rent growth, and potential redevelopment upside, in one of the Westside's most sought-after and supply-constrained submarkets.

Property details

MLS number

26986297

Status

Pending

Type

Residential Income

Beds / baths

4 Beds • 4 Baths

Living area

3,512 (area; units unconfirmed)

Lot size

0.1723 acres

County

Los Angeles

Year built

1926

Stories

2