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Key Details
Sold Price $4,150,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID BB25047888
Year Built 2024
Annual Tax Amount $50,315
Lot Size 9,243 Sqft
Property Sub-Type Apartment
Property Description
3442 Potomac Ave is a brand-new construction 6-unit building located in trendy West Adams, set on an enormous 9,000+ sq. ft. lot just steps from popular destinations like Highly Likely Cafe, Thinkspace Gallery, and The Bar at Johnny's. This prime location offers incredible lifestyle appeal, attracting A+ tenants quickly due to the limited inventory and high demand in the area. The property delivers an excellent projected 5.84% cap rate and $317,000 in annual gross rent, making it a one-of-a-kind investment opportunity.
The building features an ideal unit mix with two 4-bed/4-bath units, two 3-bed/4-bath units, and two 3-bed/3.5-bath units, all boasting large open floor plans, ultra-trendy interiors and upgraded finishes. The property offers ample parking (with two spaces per unit), adding to its tenant-friendly appeal.
Beyond the strong rental income potential, buyers will enjoy drought-tolerant landscaping, a 1-year builder's warranty, brand-new everything, minimal maintenance, and separate meters for gas, water, and electric. With its prime location, high-end design, and long-term desirability, this is an exceptional investment opportunity in one of Los Angeles' most dynamic rental markets. This opportunity will not last long!
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LAR2
Interior
Heating Central
Cooling Central Air
Fireplaces Type None
Laundry Washer Hookup, Electric Dryer Hookup, Inside
Exterior
Exterior Feature Lighting
Parking Features Garage, Uncovered
Garage Spaces 8.0
Garage Description 8.0
Pool None
Community Features Street Lights, Sidewalks
View Y/N Yes
View City Lights, Neighborhood
Building
Lot Description Landscaped
Story 3
Sewer Public Sewer
Water Public
New Construction Yes
Others
Acceptable Financing Submit
Listing Terms Submit
Special Listing Condition Standard
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Bought with Gina Lloyd • T.N.G. Real Estate Consultants