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$3,800,000
Est. payment /mo
8,441 Sqft Lot
UPDATED:
Key Details
Property Type Single Family Home, Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26178268
HOA Y/N No
Year Built 1987
Lot Size 8,441 Sqft
Property Sub-Type Mixed Use
Property Description
Exceptional opportunity to acquire a non-RSO, 11 unit apartment building comprised of 9 2-bedroom/2-bathroom units, and 2 one-bedroom/one-bath units, originally built in 1987 and totaling approximately 10,514 square feet of living space. The property currently offers an attractive 5.3% cap rate, with approximately 25% rental upside, presenting investors with the potential to achieve a projected cap rate of up to 7% as rents are brought to market levels. Amenities include assigned parking in a subterranean garage, community laundry facilities, and individually metered gas and electric utilities. The building has also benefited from recent capital improvements such as brand new roof, enhancing the property's condition and reducing near-term maintenance requirements. Ideally located in the heart of Mar Vista, just minutes from Venice Beach and Downtown Culver City.
With strong rental demand, significant rental upside, and a highly desirable central location, this asset presents a compelling opportunity for investors seeking both stable current income and long-term value growth in one of Los Angeles' most dynamic rental markets.
With strong rental demand, significant rental upside, and a highly desirable central location, this asset presents a compelling opportunity for investors seeking both stable current income and long-term value growth in one of Los Angeles' most dynamic rental markets.
Location
State CA
County Los Angeles
Area C13 - Palms - Mar Vista
Interior
Heating Central
Cooling Central Air
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 20.0
Garage Description 20.0
Pool None
Community Features Sidewalks
Total Parking Spaces 20
Private Pool No
Building
Lot Description Rectangular Lot
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4248025078
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard, Trust
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Listed by Tamas Batyi Compass 323-236-6450, DRE #02053534
NEARBY SCHOOL & BUSINESS
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