Description

Kidder Mathews, as exclusive listing agent, is pleased to offer 4061 Wade St, a charming 10-unit apartment community on a quiet residential street in prime Culver West. THE ASSET: Built in 1953, this charming apartment community sits on an expansive 15,825-square-foot parcel and features an attractive mix of all two-bedroom units. The lot size and configuration make the property a strong candidate for future detached ADU development. Ample on-site parking is provided at the rear of the property, including 10 covered spaces and 3 uncovered spaces. The building offers spacious, well-appointed units and delivers an initial 5.39% cap rate, with approximately 15% rental upside achievable through unit turnover and renovation, as well as the implementation of a RUBS program to recapture utility expenses. The existing loan is potentially assumable at a highly attractive 4.35% interest rate, fully amortizing and fixed through July 1, 2027. THE NEIGHBORHOOD: 4061 Wade St is located in the highly desirable Culver West neighborhood, offering a rare combination of quiet residential living and immediate access to some of the Westside's most sought-after communities, including Mar Vista, Marina del Rey, Downtown Culver City, and Venice. Residents enjoy exceptional walkability, with a wide selection of shopping, dining, and entertainment just steps away along Washington Boulevard. The property is also less than a mile from Villa Marina Marketplace, a major Marina del Rey retail destination featuring an impressive tenant mix such as AMC Dine-In, Equinox Fitness, Gelson's Market, Ruth's Chris Steak House, Yard House, and more. The property is situated on a peaceful residential street that dead-ends into Culver West Alexander Park, a 3.13-acre neighborhood park offering open green space, sports courts, a playground, and one of Culver City's only designated dog-walking paths.