3674 Empire Dr, Los Angeles, CA 90034

10-Unit Trust Sale in Palms | Newer Roof, Brand New Electrical, 32% Upside

Sold: $2,100,000

The Deal Story

Sale Price: $2,100,000

Units: 10

Property Type: Multifamily

Unit Mix: (4) 2BR/1.5BA, (2) 1BR/1BA, (4) bachelor units

Buyer Type: Private investor (physician with a small area multifamily portfolio)

Seller Situation: Four-sibling trust sale; first sale in over 50 years

Result: 5 offers received; financing challenges tied to the property's unique configuration (6 standard units + 4 legal guest rooms per the original Certificate of Occupancy) navigated to keep the deal on track
Special Features: Vacant bachelor unit; rents ~32% below market; new roof (2022); electrical upgrade (2025); ADU potential (Buyer to Verify)

Case Study Summary

3674 Empire Drive is a 10-unit multifamily property in the Palms neighborhood of Los Angeles, comprised of six standard units and four legal bachelor guest rooms per the original Certificate of Occupancy. At the time of sale, one bachelor unit was vacant and rents ran approximately 32% below market. Glaser Group brought the property to market as a trust sale, generating five competitive offers and closing, navigating financing challenges tied to the property's unique unit configuration to keep the deal on track.

The property had been held by the same family for over 50 years before four trust beneficiaries elected to sell. The buyer was a physician with a small multifamily portfolio in the area who already owned a building down the street and saw the acquisition as a logistical and financial fit, including depreciation benefits. Glaser Group represented the Seller and coordinated escrow through to closing.

Property Highlights

10-unit value add property in Palms built in 1961
Trust Sale offered to the market for first time in 50 years!
Diverse mix of (4) 2BR/1.5BA, (2) 1BR/1BA, and (4) bachelor units across 6,488 SF of building
New roof was installed in 2022 per LADBS permit record
Required soft story retrofit was completed
Electrical systems have been fully updated with new Siemens main panel, breakers and subpanels
Property has (7) tandem parking stalls (14 spaces total)
Current rents sit approx. 32% below current market
On-site laundry room brings in additional income
Property has (1) current vacant bachelor unit
Strong attached ADU potential in tuck under parking
Strong rental demand driven by connectivity to Culver City, Santa Monica and the Westside
Part of a broader 3-Property Westside Trust Sale:
- 11817 Culver Blvd – 7 Units for $1,275,000
- 3674 Empire Dr – 10 Units for $2,350,000
- 4253 Centinela Ave – 6 Units for $1,500,000