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Listed by Lauren Cearley • Myunits.com Inc.
$3,099,000
Est. payment /mo
6,339 SqFt
Price Dropped by $100K
3024 Wellington Road Los Angeles, CA 90016
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Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 6,339 sqft
Price per Sqft $488
MLS Listing ID BB-25089874
Style Modern
Year Built 2025
Lot Size 5,038 Sqft
Property Sub-Type Quadruplex
Property Description
3024 Wellington Rd is a brand-new, non-rent controlled, OPPORTUNITY ZONE fourplex in the heart of West Adams--one of Los Angeles' most vibrant and sought-after neighborhoods. Nestled on a charming tree-lined street just a few blocks from local favorites like Highly Likely Cafe, Alta Adams, Mizlala, and Cento Pasta Bar, this stunning property is projected to generate over $230,160 in annual rent, offering a strong 5.82% cap rate and exceptional return on investment. With only 25 days on market, the building is already 75% leased--with units rented at $4,995, $4,895 and $4,250--and active applications on the remaining 4-bedroom homes. This rapid lease-up confirms the property is extremely rentable and highly desirable to today's tenants. Each unit is separately metered for utilities, ensuring minimal operating costs, and the property is backed by a 1-year builder's warranty for peace of mind. The fourplex (triplex + ADU "in name only") consists of three spacious 4-bedroom townhomes and one 3-bedroom unit, all thoughtfully designed to maximize space and functionality. Modern, open-concept layouts feature high-end finishes, stainless-steel appliances, abundant natural light, and large windows that enhance the living experience. Additional highlights include expansive living areas, large front and rear-facing balconies, and sleek contemporary designs tailored to meet the demands of today's renters. Positioned in the thriving West Adams neighborhood, the property guarantees high tenant demand and strong long-term appreciation. With its low-maintenance design, upscale units, and unbeatable location, 3024 Wellington Rd is an exceptional opportunity for investors looking to secure a premium property in a fast-growing market. This is your chance to own a turnkey investment in one of LA's hottest neighborhoods--don't miss out!
Location
State CA
County Los Angeles
Area C20 - Hollywood
Zoning LARD1.5
Interior
Interior Features Open Floorplan, Recessed Lighting
Heating Central
Fireplaces Type None
Laundry Dryer Included, Electric Dryer Hookup, Inside, Washer Hookup, Washer Included
Exterior
Exterior Feature Lighting
Parking Features Uncovered, Assigned
Pool None
Community Features Sidewalks, Street Lights
View Y/N Yes
View City Lights
Building
Lot Description Landscaped
Sewer Public Sewer