3849 Stevely Avenue, Los Angeles, CA 90008

• 7,872 sqft

Property Description

We are pleased to present this 8-unit multifamily asset located at 3849 Stevely Ave, featuring strong in-place income, major upside potential, and immediate proximity to one of the city's most transformative new developments with the possibility of adding an ADU. 3849 Stevely Ave features recent capital upgrades, including new siemens electrical panels, a newer roof, updated flooring, and a modern water heater. With an in-place 4.82% cap rate (10.78 GRM), there's an estimated 44% upside through rent increases. An ADU may potentially be added, which could further improve returns to a projected 5.38% cap and 9.94 GRM after construction. Tuck-under parking seismic retrofit has been completed. Just steps from 5035 W. Coliseum Street, site of the nation's first Costco-anchored mixed-use development. This six-story project will include 800 residential units, a full-service Costco offering produce, pharmacy, optical, and delivery services, and dedicated community programming for families and seniors. Leveraging AB 2011 fast-track zoning, the project is expected to generate up to 400 local jobs and revitalize the surrounding area. In addition to the Costco project, the property sits near the $700M Baldwin Hills Crenshaw Plaza redevelopment bringing 961 new residences, a hotel, offices, r

Listing Status:

Active

Date Added:

June 9, 2025 at 05:00AM

Listing Office:

Houze Real Estate Management : 323-852-1372

Listing Agent:

Kelly Morgan : 310-836-3638

MLS ID:

CL25550181

Interior

• A/C: Wall/Window Unit(s)
• Heating: Wall Furnace

Exterior

• Parking: Other

Location

• County: Los Angeles

Lot

• Zoning: LAR35030003026

This listing courtesy of Kelly Morgan, Houze Real Estate Management