Description

5020 Sawtelle Blvd is a well-maintained 7-unit apartment building located in a desirable Westside pocket of Del Rey, in Culver City. The property is professionally managed and is on the market for the first time in 40 years. This is a value-add opportunity with 40% rental upside and a pro forma cap rate of 7.47%. Built in 1964, the 4,698 SF property is situated on a 5,003 SF lot. The unit mix includes: (1) 3Bd/2Ba, (5) 1Bd/1Ba, and (1) Studio. There is a manicured lawn in front with neat hedges and a deep set back from the sidewalk. There are four tuck-under parking spaces in the rear of the property. Seismic retrofit is completed. The building has benefited from four decades of professional management, ensuring consistent care and operational stability. There is strong rental-demand for the property due to its proximity to Downtown Culver City, which has acclaimed dining, shopping and entertainment, as well as several major employers including Sony Pictures Studios, Electronic Arts, Belkin, Facebook LA, Microsoft LA, and YouTube LA.