3189 Cheviot Vista Place
Los Angeles, CA 90034
- – beds
- – baths
- – sqft
- 11,952 sqft lot
- 1973 build
- – on site
We are pleased to present for sale 3189 Cheviot Vista Pl. in Palms Mar Vista of Los Angeles, CA. The offering consists of a 1973 built (LARSO) 21 unit value-add apartment building, not subject to the Measure ULA "Mansion Tax". The property has benefitted from a local family of conscientious operators and their portfolio is professionally managed by Lilly Property Management Co. A brand new $70,000 roof was installed last year. The mix of Studios (4), 1BR/1BA (16) and 2BR/1BA (1) units (ranging from 700 to 800 SF) cater towards a broad rental market. The Studios and 1BR's, which account for 95% of all units, may assist in keeping rents paced with the market during turnover. There is an on-site manager in Unit 104. The building is offered at a reasonable 5.50 CAP / 10.80 X. With approximately 40% rental upside, new ownership may be afforded a path towards a considerable 8.70 CAP / 7.85 X. Tenants will have access to an on-site laundry room, AC wall units, heating units, private patio, and 20 gated parking spaces + 1 uncovered space. Within close proximity is the E Station of the Metro Line in addition to the 10 Freeway National Blvd. off ramp directly next to the property. Also within close proximity is Downtown Culver City, Hayden Tract and Sony Pictures Studios. According to LA County Planning 2023, Palms Mar Vista had a total population of 112,000 people with an average household income of $105,000. 65% of the population were renters. The offering presents an ideal value-add opportunity of operational stability with consistent cash flow and predictable long term appreciation. Furthermore, offering potential ADU avenues for the new owner to explore (buyer to verify). The property will make a strong addition to any investor's portfolio whether they're in acquisition mode or simply looking for an immediate 1031 solution. Property is subject to LARSO. As of May 8, 2025 there are two (2) 1BR/1BA vacancies. No other units will be delivered vacant by Seller upon close of escrow, except those occurring naturally. Property to be sold in as-is condition. Please DO NOT walk the property or disturb the tenants. Text/email LA for OM. Showing upon an accepted offer. Please submit proof of funds and pre-approval with offer.
Last checked:
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Last updated May 8, 2025
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MLS# 25532523 —
The Building
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Year Built:1973
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Year Built Source:Assessor
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New Construction:No
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Building Area Total:15477.00
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Total Number Of Units:21
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# of Buildings:1
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Stories Total:2
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Faces:South
Interior
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Features:Ceiling Fan(s)
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Levels:Three Or More
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Entry Location:Main Level
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Laundry:Individual Room, Community, In Garage
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Laundry:1
Location
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Directions:East of Overland Ave., North of Rose Ave./National Blvd., N side of National Blvd., S of the 10 Fwy.
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Latitude:34.03114900
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Longitude:-118.41493900
The Property
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Property Type:Residential Income
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Property Condition:Fixer
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Zoning:LAR4
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Lot Size Area:11952.0000
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Lot Size Acres:0.2744
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Lot Size SqFt:11952.00
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Lot Size Source:Assessor
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View:None
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Security Features:Gated Community
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Additional Parcels:No
Listing Agent
- Contact info:
- No listing contact info available
The Listing
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Special Listing Conditions:Standard
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Parcel Number:4314026056
Heating & Cooling
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Heating:1
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Heating:Wall Furnace
Appliances
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Appliances:Dishwasher, Disposal, Refrigerator, Vented Exhaust Fan
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Included:Yes
The Community
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Association:No
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Pool:None
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Senior Community:No
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Private Pool:No
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Spa Features:None
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Assessments:No
Parking
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Parking:Yes
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Parking:Assigned, Controlled Entrance, Covered, Gated, Uncovered, Side by Side
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Parking Spaces:21.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
5/8/25
May 8, 2025
|
Listed / Active | CRMLS_CA | $4,850,000 | -16.4% (-2.8% / YR) |
|
7/15/19
Jul 15, 2019
|
CRMLS_CA | $5,800,000 |
