3015 S Palm Grove Avenue, Los Angeles, CA 90016

Prime West Adams value-add duplex plus one non-conforming unit, delivered completely vacant. The property consists of a 2 Bd/1 Ba unit (plus laundry), a large 1 Bd/1 Ba unit (with a dining room and living room), and a non-conforming studio. The seller has completed a feasibility study to determine that a new buyer can add an ADU and a Jr. ADU (buyer to verify). The ADU feasibility study completed by the buyer has been included as a supplement to this listing, in addition to the numbers page. The subject property is located in a nice residential pocket of the rapidly growing West Adams neighborhood between Jefferson Blvd. and West Adams Blvd. At the list price, assuming market rents for only the existing two units and the non-conforming studio, this property should deliver a cap rate of approximately 4.76%. This is the perfect property for an owner user or a seasoned investor who can immediately add value by rehabbing the existing units, building out the two ADU’s, and renting the units out at market rents.