Pleased to present 3850 Potomac Ave, Los Angeles, CA 90008. This well-maintained property was built in 1956 with a great unit mix of (4) two-bedroom/one-bathroom and (4) one-bedroom/one-bathroom, all within 8,889 rentable square feet. This well maintained and gated 2 story property has a beautifully landscaped yard with palm trees throughout the block. The owner pays water utilities, rents are under market and property has sustained long term tenants. The soft story retrofit has been completed. Currently, there is one vacancy and each unit has assigned parking. Two tenants deferred their rent due to the COVID-19 pandemic. The property includes eight (8) onsite carport spaces. There are Section 8 tenants. Less than a mile away and within walking distance from the new state of the art Kaiser Permanente and Baldwin Hills Shopping Center with amenities such as Ralphs, Subway, Walgreens, and Dollar Tree. Additionally, the Property is less than a mile from the new Baldwin Hills Crenshaw Plaza, a $700 million redevelopment project situated on 43 acres of land, which will feature new apartments, condominiums, a hotel, restaurants, retail and office space. Tenants are in close proximity to public transit, and the Metros LAX/Crenshaw Line is scheduled to open in 2021, connecting neighborhoods of Crenshaw, Baldwin Hills, and Leimert Park to the city of Inglewood and the Los Angeles International Airport (LAX). Additionally, tenants have convenient access to major employment centers including Century City, Culver City, and Downtown Los Angeles. With tremendous rental upside, 3850 Potomac Avenue will appeal to investors looking for a value-add opportunity in a rapidly developing neighborhood.
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