2821 Virginia Rd is a brand new construction OPPORTUNITY ZONE triplex in prime West Adams minutes from Downtown Culver City and the Culver City Arts District! This is a rare opportunity to secure MAJOR tax benefits while owning a stunning 2022 triplex (MASSIVE freestanding SFR + duplex) with floorplans and finishes that are out of this world! Additionally, for only $60,000 extra ($2,750,00), the seller is willing to convert the downstairs floor and garage of the front unit into a 1 bed, 1 bath ADU, making for the cheapest fourplex in town. 2821 Virginia Rd currently consists of one 3-story 5 bed, 4.5 bath SFR and a duplex with two 3-story 4 bed, 4 bath townhomes that each have access to a spacious rear patio. We project a cap rate of gross monthly rent of $15,400 and a cap rate of 5.25%. The property boasts a 2-car garage for the front house and 4 partially covered spaces for the back units. If you enact the ADU option, the property’s unit mix will become: two 3-story 4 bed, 4 baths, one 4 bed, 3.5 bath (situated on floor 2 and 3 of the front building), and one 1 bed, 1 bath (situated on floor 1 + the garage of the back building). With an ADU, the property would benefit from 327 extra square feet of livable space. Plus, we project a 5.51% cap rate if you go this route! This impressive property boasts NO RENT CONTROL, separate meters for all utilities, well-designed open floorplans, a 2-car garage + 4 partially covered spots, gorgeous glass balconies, a large rear patio, high quality finishes, walk-in closets with built in shelving, laundry hookups in each unit, high-end modern kitchens, and large, stunning bathrooms. It will be delivered with a 1-year builder’s warranty. It is situated in red-hot West Adams minutes from several of the most ground-breaking mixed-use developments: Platform, the Culver City Steps (Amazon Studios headquarters), Ivy Station (HBO headquarters), and the Cumulus development (Whole Foods).
Price per square foot and days on website are not provided values and are calculated by RE/MAX.
Listing Office The 2-4 Unit Specialists
Updated 11:10AM - 9/28/2022
Listing Agent Elizabeth Maddox
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