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11265 Palms Blvd, Los Angeles, CA 90066
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11265 Palms Blvd Los Angeles, CA 90066

$10,700,000
  • 62 Beds
  • 32 Baths
  • 25,688 Sq.Ft.
Back Up Offer
$10,700,000 Get Pre-Qualified
Map preview of 11265 Palms Blvd, Los Angeles, CA 90066

Property Overview: 11265 Palms Blvd Los Angeles, CA has 62 bedrooms, 32 bathrooms, 25,688 living square feet and 40,820 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: We are pleased to present 11265-75 Palms Boulevard, a 24-unit apartment building aptly named Palms Pointe Apartments. The property is located in the highly desirable Mar Vista sub-market on the Westside. 11265-75 Palms Boulevard sits on a nearly full acre of land and features an attractive mix of 2-bedroom and 3-bedroom units. With only ten (10) of the twenty-four (24) units renovated, this building presents a tremendous opportunity for a buyer to come in and rehab the remaining fourteen (14) units as they turnover. The previous owner was able to increase rents on the renovated units by nearly 100% after their extensive and high-quality upgrades. Palms Pointe is located just west of the 405 Freeway and is rather unique in that it is situated on an "island" with no adjacent neighbors, which allows for a level of privacy that tenants enjoy. Additionally, the property boasts a beautiful park-like setting with mature trees and separate private garages; there is even a sizeable dog park for the tenants to use with all of their pets! Furthermore, should you want to take advantage of the sizeable lot and pursue the potential to build even more units in the future. The property is zoned R3 and has the potential to allow up to 51 units (buyer to verify). Situated directly across the street from Mar Vista Recreation Center, the Property affords residents with extremely convenient access to nearly 20 acres of outdoor space along with sports, fitness, gathering, and cultural amenities. This proximity to such amenities certainly lends itself to higher rents, especially when the units have been rehabbed to their full potential. For residents looking for some entertainment, there are a plethora of local shopping and dining options very close by. Venice Boulevard is full of delicious local eateries, vibrant Sawtelle Japantown is just a few minutes away, and the bustling neighborhoods of Culver City, Westwood, Century City, and Beverly Hills are just a short drive from the property. If you are an investor looking for an asset with upside in a core Westside market in Los Angeles, look no further.

Listed by Saadia 'Sam' Liberow | BRE #01933858 | Marcus & Millichap
Last checked: 2 minutes ago | Last updated: April 26th, 2022 | Source CRMLS | DOM: 824
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Home details

Lot Sq. Ft
40,820
HOA Dues
$0/mo
Year built
1947
Garage
17 Car
Property Type:
Multi Family
Status
Back Up Offer
MLS#
21111432
City
Los Angeles
County
Los Angeles
Time on Site
891 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 24
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $981
  • Total Rent: $981
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 2
  • # of Units: 7
  • # of Beds: 3
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,987
  • Total Rent: $13,908
  • Pro Forma/Market Rent: $24,150
Unit Breakdown 3
  • # of Units: 7
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,343
  • Total Rent: $16,407
  • Pro Forma/Market Rent: $20,545
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,366
  • Total Rent: $1,366
  • Pro Forma/Market Rent: $3,200
Unit Breakdown 5
  • # of Units: 8
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $3,006
  • Total Rent: $24,053
  • Pro Forma/Market Rent: $28,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 15.72
  • Gross Scheduled Income: --
  • Net Operating Income: $454,801
  • Gross Operating Income: $718,083
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 11265 Palms Blvd

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Property Details for 11265 Palms Blvd

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 17
  • # of Parking Spaces: 55
  • Has Parking
  • Parking Features: Garage
Property Information
  • Total # of Units: 24
  • Parcel Number: 4249001011
Location / Neighborhood
Location Information
  • Directions: Near the corner of Palms Blvd and Sawtelle Blvd.
View more facts & features

Local Los Angeles Agent

Sale History for 11265 Palms Blvd

Last leased for $2,775 on August 21st, 2020

  • April, 2022

  • Apr 11, 2022

    Date

    Back Up Offer

    CRMLS: 21111432

    $10,700,000

    Price

  • Dec 10, 2021

    Date

    Active

    CRMLS: 21111432

    $11,275,000

    Price

  • August, 2021

  • Aug 9, 2021

    Date

    Canceled

    CRMLS: 21727770

    $11,200,000

    Price

  • Jul 26, 2021

    Date

    Price Change

    CRMLS: 21727770

    $11,200,000

    Price

  • May 5, 2021

    Date

    Active

    CRMLS: 21727770

    $11,500,000

    Price

  • Listing provided courtesy of CRMLS

  • August, 2020

  • Aug 21, 2020

    Date

    Leased

    CRMLS: 20615596

    $2,775

    Price

  • Aug 12, 2020

    Date

    Active

    CRMLS: 20615596

    $2,775

    Price

  • Listing provided courtesy of CRMLS

    Note: Similar unit pictured! Enter this dreamy BRAND NEW lower apartment with more character than a story book! New paint and landscaping are happening outside, and just wait until you open the front door. Your new home comes alive with gorgeous details like the patterned tile floors in kitchen and bathroom, gorgeous gold fixtures throughout, original large mid-century paned windows, and dark wood flooring.While you are whipping up a delicious dinner for your friends in the brand new kitchen complete with white quartz countertops, white subway tile backsplash and BRAND NEW appliances (including dishwasher, fridge and stove), they will be entertained in the open concept living room adjacent, so no one will feel any FOMO.Wall A/C in all rooms as well as ceiling fans. The bathroom is spacious and bright; it has a soaking tub/shower combo and the cutest colorful penny tile backsplash. Owner pays for water. One car parking included. Pets considered with add'l deposit

  • January, 2019

  • Jan 23, 2019

    Date

    Sold (Public Records)

    Public Records

    $8,500,000

    Price

  • December, 2006

  • Dec 29, 2006

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 11265 Palms Blvd

Assessed Value (2020): $8,671,125
Year Land Value Improved Value Assessed Value
2020 $7,140,000 $1,531,125 $8,671,125

Home Value Compared to the Market

This property vs the competition

11265 Palms Blvd is listed 756% higher than the median list price for the city of Los Angeles which has a median list price of $1,250,000. The median price per/sqft for Los Angeles is $777 and this home is listed at $416.54 per/sqft which puts the price per square foot 46.39% lower than the median price per square foot for the city of Los Angeles.

About 11265 Palms Blvd

Detailed summary of property

11265 Palms Blvd is a multi family located in Los Angeles, CA 90066 and is currently in escrow to be sold. This multi family property offers 62 bedrooms, 32 bathrooms, roughly 25,688 living square feet, and sits on an approximately 40,820 square foot lot. 11265 Palms Blvd was first listed on ArdentRealEstateGroup.com on December 10, 2021. The homeowner is currently asking $10,700,000 and was originally asking $11,275,000. The median priced home in Los Angeles is $1,250,000 with a median price per square foot of $777. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 756% higher than the median priced home. Local competing homes currently for sale include 5026 Rosewood Ave, 667 S Carondelet St and 2041 N Vermont Ave. While the average home in Los Angeles, CA is selling in 92 days, 11265 Palms Blvd has a days on market of 824 days. There are currently 3712 homes for sale in the Los Angeles real estate market and 2493 of them are single family homes while 1120 of them are condos and 93 are townhomes. For more information on this home for sale at 11265 Palms Blvd Los Angeles, CA 90066 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 11265 Palms Blvd

Public county record property details
Beds
18
Baths
24
Year built
1947
Sq. Ft.
25,688
Lot Size
40,822
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
20
APN
4249-001-011

The source for these homes facts are from public records.

90066 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$2,200,000
Median List Price/Sq.Ft.
$1,002
Median Sold Price
$1,626,261
Median Sold Price/Sq.Ft.
$1,022
Total Inventory
116
Median Sale to List Price %
100.08%
Avg Days on Market
29
Loan Type
Conventional (9.09%), FHA (0%), VA (0%), Cash (15.15%), Other (6.06%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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