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SOLD 9/16/2022

4523 St Elmo Drive, Los Angeles, CA 90019$3,290,000

16
beds
16
baths
5703
ft2
· 7000
ft2 lot
$605 / ft2

Listing provided courtesy of Listing Broker: Elizabeth Maddox, The 2-4 Unit Specialists
Source CRMLS;
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4523 St Elmo Dr. is a premium new construction fourplex in red-hot Mid-City a short walk to the Midtown Shopping Center and a few minute drive to Downtown Culver City! This ultra-upscale property will be delivered 50% leased with tenants paying $6,200 and $4,595, making for an extraordinary cap rate of 5.34%! Additionally, there are multiple applications in hand for the final 2 units (HUGE demand)! The property is comprised of two impressive 3-story buildings, each containing two 4 bedroom/3.5 bathroom townhome-style units with sleek, modern finishes. 4523 St Elmo isn’t your ordinary new construction property. It’s been elevated in every sense! It comes fully loaded with washers and dryers, solar panels on both buildings, EV chargers for each unit, stainless steel appliances, Nest Thermostats, Ring Doorbells, blinds, and most importantly, a Proto Core™ for each unit. The Proto Core™ is a control room that can be accessed from the exterior by maintenance workers, which consolidates all electrical, plumbing, heating, cooling, security, and WiFi systems into one space. This streamlined system makes maintenance a breeze on St Elmo- a dream come true for buyers looking for an easy to manage, high cash flow investment! In addition to the impressive return and designer appeal, buyers will enjoy other notable perks including: NO RENT CONTROL, 8 parking spaces in a large parking lot, tastefully designed drought tolerant landscaping, a 1-year builder’s warranty, brand new EVERYTHING, little to no maintenance, separate meters for gas, water & electric, and extreme desirability amongst renters for years to come. Located 10 minutes from Downtown Culver City and the countless hotspots in the area, including the trendy Helms Bakery District, the Culver City Steps (Amazon Studios headquarters), Ivy Station (HBO headquarters), and the Cumulus District (Whole Foods). With the large quantity of entertainment, tech, and creative jobs in the area, 4523 St Elmo attracts high quality professional tenants.

HOA

$0/month

On market

a month

Year built

2022

Property type

Multi-Family

Parking

8

MLS

BB22138530

Price / Sq.Ft.

$605 / ft2

Status

Closed

Buyer’s Brokerage Commission

2.5%

Home details for 4523 St Elmo Drive

Interior Features & Layout
Appliances
•   
Laundry Details: Dryer Included, Gas Dryer Hookup, Inside, Washer Hookup, Washer Included
•   
Appliances: Dishwasher, Gas Oven, Gas Range, Microwave, Refrigerator
•   
Has Appliances
•   
Laundry: 1
Rooms Info
•   
Average3 Bed Area Units: Square Feet
•   
Average Studio Area Units: Square Feet
•   
Average2 Bed Area Units: Square Feet
•   
Average1 Bed Area Units: Square Feet
•   
Room Information: Kitchen, Laundry, Living Room
•   
Entry Level: 1
Heating & Cooling
•   
Has Heating
•   
Heating Details: Central
•   
Cooling Details: Central Air
Interior Size
•   
Building Area Total: 5703.00
Property, Lot, Community & Exterior Features
Parking Info
•   
Garage Spaces: 0.00
•   
Uncovered Spaces: 8.00
Property Features
•   
View: City Lights, Neighborhood
•   
Property Condition: Turnkey
•   
Common Walls: 1 Common Wall
Building Info
•   
Building Area Units: Square Feet
•   
Zoning: LARD1.5
•   
New Construction: 1
•   
Roof: Flat
•   
Stories Total: 1
•   
Num Stories: Three Or More
•   
Year Built Source: Builder
Lot Info
•   
Lot Features: Landscaped, Level with Street, Sprinklers Drip System
•   
Lot Size Source: Assessor
•   
Elevation Units: Feet
•   
Lot Size Acres: 0.1607
•   
Lot Size Area: 7000.0000
•   
Lot Size Units: Square Feet
Community Info
•   
Number Of Buildings: 2
•   
Total Units: 4
Property Type
•   
Architectural Style: Modern
Utilities & Other Information
Utilities
•   
Number Of Separate Electric Meters: 4
•   
Number Of Separate Gas Meters: 4
•   
Number Of Separate Water Meters: 4
Water & Sewer Info
•   
Water Source: Public
•   
Sewer: Public Sewer
Listing Details, Costs & Financing Information
Financial Info
•   
Gross Operating Income: 230227.00
•   
Tax Annual Amount: 40533.00
•   
Vacancy Allowance Rate: 4.00
•   
Maintenance Expense: 1600.00
•   
Cap Rate: 5.34
•   
Trash Expense: 0.00
•   
New Taxes Expense: 40533.00
•   
Insurance Expense: 2800.00
•   
Total Expenses: 46133.00
•   
Gross Scheduled Income: 239820.00
•   
Tax Block: D
•   
Operating Expense: 46133.00
•   
Gardener Expense: 1200.00
•   
Gross Multiplier: 14.38
Tax/Assessment Info
•   
Gross Income: 19985.00
Lease Info
•   
Net Operating Income: 184095.00
Listing Info
•   
Status: Closed
Multi Unit Information
Unit 3 Information
•   
Unit 3 Bedrooms: 4
•   
Unit 3 Actual Rent: 0.00
•   
Unit 3 Total Units: 1
•   
Unit 3 Furnished Units: Unfurnished
•   
Unit 3 Garage Spaces: 0.00
•   
Unit 3 Bathrooms: 4
•   
Unit 3 Total Rent: 0.00
Unit 2 Information
•   
Unit 2 Actual Rent: 4595.00
•   
Unit 2 Bedrooms: 4
•   
Unit 2 Total Units: 1
•   
Unit 2 Furnished Units: Unfurnished
•   
Unit 2 Bathrooms: 4
•   
Unit 2 Garage Spaces: 0.00
•   
Unit 2 Total Rent: 4595.00
Unit 1 Information
•   
Unit 1 Bedrooms: 4
•   
Unit 1 Total Units: 1
•   
Unit 1 Furnished Units: Unfurnished
•   
Unit 1 Garage Spaces: 0.00
•   
Unit 1 Bathrooms: 4
•   
Unit 1 Actual Rent: 6200.00
•   
Unit 1 Total Rent: 6200.00
Unit 4 Information
•   
Unit 4 Actual Rent: 0.00
•   
Unit 4 Total Units: 1
•   
Unit 4 Furnished Units: Unfurnished
•   
Unit 4 Total Rent: 0.00
•   
Unit 4 Bathrooms: 4
•   
Unit 4 Garage Spaces: 0.00
•   
Unit 4 Bedrooms: 4
Multi Unit Information
•   
Number With Refrigerator: 4
•   
# Of Units: 4
•   
Number With Dishwasher: 4
•   
Number With Disposal: 4
•   
Number With Range: 4
•   
Price Per Unit: 862250
School Neighborhood & Directions
Location
•   
Community Features: Curbs, Sidewalks, Street Lights
School Info
•   
Directions: Head south on West Blvd toward Saturn St. Turn right onto St Elmo Dr and property is on your right.
Virtual Tour Link
Virtual Tour
Other
Calculation
•   
Dom: 35
•   
Cdom: 35

Property History for 4523 St Elmo Drive

09/16/2022
09/16/2022
CRMLS #BB22138530
sold
CRMLS #BB22138530
$3,290,000
--4.61%
08/01/2022
08/01/2022
CRMLS #BB22138530
pending
CRMLS #BB22138530
$3,449,000
06/27/2022
06/27/2022
CRMLS #BB22138530
active
CRMLS #BB22138530
$3,449,000
+263.05%
07/24/2020
07/24/2020
CRMLS #20580238
sold
CRMLS #20580238
$950,000
06/03/2020
06/03/2020
CRMLS #20580238
pending
CRMLS #20580238
$950,000
See more property history

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