Rob Renshaw 3107760564
Jake Plewa 3109226124

9 Units in Prime Palms 3637 Mentone Ave 9 Unit Apartment Building $2,695,000 ($299,444/Unit) 4.96% Cap Rate Los Angeles, CA 90034

INVESTMENT HIGHLIGHTS

Fantastic Palms location
Long-term family ownership

Ideal unit mix
Massive upside potential

EXECUTIVE SUMMARY

CAN BE PURCHASED INDIVIDUALLY OR WITH 12715-12717 VENICE AND 12665 VENICE AS A PORTFOLIO.
We are pleased to present the exclusive opportunity to acquire a well-located, professionally managed multi-family property on LA’s famed Westside.
Perfectly situated in the Palms neighborhood with it’s easy access to West LA, Culver City, and the 405/10 freeways, 3637 Mentone Avenue was built in 1961 and features 9 apartments, including three 2-bed/1-bath units and six 1-bed/1bath units. The apartments boast spacious layouts with separate dining areas, walk-in closets, balconies, and new flooring in many instances. There are on-site laundry facilities, off-street parking, low maintenance landscaping, and separate meters for gas and electricity. Soft story retrofit work was completed and a Certificate of Compliance issued.
3637 Mentone truly offers the astute investor an excellent turnkey property with a tremendous foundation for income and cap rate growth as well as long-term asset appreciation.

FINANCIAL SUMMARY (ACTUAL - 2024)	ANNUAL	ANNUAL PER SF
Gross Rental Income	$218,593	$21.67
Other Income	$1,505	$0.15
Vacancy Loss	$6,558	$0.65
Effective Gross Income	$213,540	$21.17
Taxes	$32,324	$3.20
Operating Expenses	$47,549	$4.71
Total Expenses	$79,873	$7.92
Net Operating Income	$133,667	$13.25

FINANCIAL SUMMARY (ACTUAL - 2024)

Gross Rental Income
Annual	$218,593
Annual Per SF	$21.67

Other Income
Annual	$1,505
Annual Per SF	$0.15

Vacancy Loss
Annual	$6,558
Annual Per SF	$0.65

Effective Gross Income
Annual	$213,540
Annual Per SF	$21.17

Taxes
Annual	$32,324
Annual Per SF	$3.20

Operating Expenses
Annual	$47,549
Annual Per SF	$4.71

Total Expenses
Annual	$79,873
Annual Per SF	$7.92

Net Operating Income
Annual	$133,667
Annual Per SF	$13.25

PROPERTY FACTS

Price	$2,695,000	Apartment Style	Low-Rise
Price Per Unit	$299,444	Building Class	C
Sale Type	Investment	Lot Size	0.17 AC
Cap Rate	4.96%	Building Size	7,497 SF
Gross Rent Multiplier	12.33	No. Stories	2
No. Units	9	Year Built	1961
Property Type	Multifamily	Parking Ratio	1.6/1,000 SF
Property Subtype	Apartment

Price	$2,695,000
Price Per Unit	$299,444
Sale Type	Investment
Cap Rate	4.96%
Gross Rent Multiplier	12.33
No. Units	9
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	C
Lot Size	0.17 AC
Building Size	7,497 SF
No. Stories	2
Year Built	1961
Parking Ratio	1.6/1,000 SF