2
$731.57
$1,647,500
3.59%
19.61
3.78%
18.94
The LAAA Team of Marcus & Millichap is pleased to present this incredible opportunity to own a compound of two houses on a 10,000 SqFt lot in the highly desirable Oval District, which is commonly referred to as "The Beverly Hills of Mar Vista".
Investors have the ability to implement multiple strategies when purchasing this property. First, this is perfect for the owner-occupy buyer who wants to live in one of the two houses and rent out the other house, or have a family member live in the other house. An owner-occupy buyer will be able to get the best financing possible with a 20% down payment and a sub-3% interest rate. It is important to know that a buyer who is in a 1031 exchange can still buy this property and live there in the near future. All a 1031 exchange buyer needs to do is rent out the homes for 2 years after owning it so that it qualifies as an investment property; after that 2-year period, you will be able to move in to either or both homes without any capital gains tax exposure.
Next, a savvy investor can take advantage of the brand new Senate Bill (SB9), which will allow you to eventually subdivide the lot into two separate lots with one house on each lot. After it is subdivided, you could sell one or both of the homes at a premium on the market. Furthermore, you would also be allowed to add ADUs to both of the two new lots after they are subdivided per the new ADU laws of 2020.
3958 East Blvd is a brand new construction (complete re-build) located in the rear of the property, and is highlighted by beautiful contemporary design. This 3 bed 3 bath home consists of 2,057 SF with a 500+ SF loft. Features recessed LED lighting throughout, brand new stainless steel appliances, washer & dryer, ample storage & closet space, A/C unit with NEST, and tankless water heater. There's also a 400 SF bonus room that is perfect as a family room or entertainment space. The spacious loft with skylights is perfect for a home office or a bonus recreational room. Huge backyard w/ lush landscaping, firepit and trellis patio, perfect for entertaining. Property is completely private and secure with private gated access and RING/Nest surveillance cameras. Comes with two parking spaces.
3956 East Blvd has been completely updated in 2019. This charming home has it all: privacy and surveillance with RING; brand new landscaping and private hedged front and backyard with patio space for entertainment; 3 bedrooms, 2 baths; converted garage suite (400 SF) with flooring, skylight and fan; 2 dining areas; family room that opens to trellis patio; nice curb appeal and front garden. Updated A/C unit with NEST, new appliances including Washer and Dryer, updated windows, tankless water heater, and recessed LED lighting. Gated 2 -car tandem parking and 2-3 tandem driveway parking spots with plenty of off-street parking too.
