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11401 Washington Pl 10 Unit Apartment Building $2,795,000 ($279,500/Unit) 5.30% Cap Rate Los Angeles, CA 90066
Investment Highlights
- 10-Unit Investment Opportunity in Mar Vista | Upgraded Plumbing & Electrical (2025
- 7,129-SF Building on a 7,753-SF Corner Lot | Desirable Opportunity to Add ADUs
- 5.30% Current Cap Rate & 12.30 Current GRM | 7.39% Pro-Forma Cap Rate & 9.64 Pro-Forma GRM
- Prime Westside Location Near Marina Del Rey, Venice, Culver City, Santa Monica, and Playa Vista
- Updated Units | Total of 7 Garages & an On-Site Laundry Facility – Generate Additional Annual Income
- Close Proximity to Silicon Beach, Culver City & Many Surrounding Major Tech Employers
Executive Summary
ASSET
10-unit apartment located in Mar Vista. The property is comprised of (3) 2-bedroom/1-bathroom units and (7) 1-bedroom/1-bathroom units on a 7,753-SF corner lot. One of the 1-bedrooms units is currently vacant. The plumbing and electrical were upgraded in 2025. Some of the units have been renovated with hardwood floors, newer windows, quartz counters and modern upgrades in the kitchens and bathrooms. The property features 7 garages and an on-site laundry facility, which both generate additional annual income. The garages and large lot present a desirable opportunity to add ADUs.
LOCATION
11401 Washington Place is located west of Sawtelle Boulevard in the prime Mar Vista neighborhood, with convenient access to Marina Del Rey, Venice, Culver City, Santa Monica, and Playa Vista, offering an abundance of dining, entertainment, beach, and lifestyle amenities. The property is adjacent to Silicon Beach, Culver City and the many technology and entertainment companies on the Westside, including Sony Pictures, Amazon Studios, Google, Meta, One Culver, Apple, Electronic Arts, Snap, and Hulu.
FINANCIALS
This 7,129-SF investment opportunity presents stable-in place rents as well as legitimate rental upside. The asset contains a current cap rate of 5.30% and current GRM of 12.30 with a pro-forma cap rate of 7.39% and pro-forma GRM of 9.64.
Please do not disturb tenants. Buyer to conduct their own due diligence and investigation.
10-unit apartment located in Mar Vista. The property is comprised of (3) 2-bedroom/1-bathroom units and (7) 1-bedroom/1-bathroom units on a 7,753-SF corner lot. One of the 1-bedrooms units is currently vacant. The plumbing and electrical were upgraded in 2025. Some of the units have been renovated with hardwood floors, newer windows, quartz counters and modern upgrades in the kitchens and bathrooms. The property features 7 garages and an on-site laundry facility, which both generate additional annual income. The garages and large lot present a desirable opportunity to add ADUs.
LOCATION
11401 Washington Place is located west of Sawtelle Boulevard in the prime Mar Vista neighborhood, with convenient access to Marina Del Rey, Venice, Culver City, Santa Monica, and Playa Vista, offering an abundance of dining, entertainment, beach, and lifestyle amenities. The property is adjacent to Silicon Beach, Culver City and the many technology and entertainment companies on the Westside, including Sony Pictures, Amazon Studios, Google, Meta, One Culver, Apple, Electronic Arts, Snap, and Hulu.
FINANCIALS
This 7,129-SF investment opportunity presents stable-in place rents as well as legitimate rental upside. The asset contains a current cap rate of 5.30% and current GRM of 12.30 with a pro-forma cap rate of 7.39% and pro-forma GRM of 9.64.
Please do not disturb tenants. Buyer to conduct their own due diligence and investigation.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$227,199
|
$21.61
|
| Other Income |
$15,572
|
$1.48
|
| Vacancy Loss |
$7,283
|
$0.69
|
| Effective Gross Income |
$235,488
|
$22.40
|
| Taxes |
$34,938
|
$3.32
|
| Operating Expenses |
$52,380
|
$4.98
|
| Total Expenses |
$87,318
|
$8.31
|
| Net Operating Income |
$148,170
|
$14.10
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $227,199 |
| Annual Per SF | $21.61 |
| Other Income | |
|---|---|
| Annual | $15,572 |
| Annual Per SF | $1.48 |
| Vacancy Loss | |
|---|---|
| Annual | $7,283 |
| Annual Per SF | $0.69 |
| Effective Gross Income | |
|---|---|
| Annual | $235,488 |
| Annual Per SF | $22.40 |
| Taxes | |
|---|---|
| Annual | $34,938 |
| Annual Per SF | $3.32 |
| Operating Expenses | |
|---|---|
| Annual | $52,380 |
| Annual Per SF | $4.98 |
| Total Expenses | |
|---|---|
| Annual | $87,318 |
| Annual Per SF | $8.31 |
| Net Operating Income | |
|---|---|
| Annual | $148,170 |
| Annual Per SF | $14.10 |
Property Facts
| Price | $2,795,000 | Apartment Style | Garden |
| Price Per Unit | $279,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 5.30% | Building Size | 7,129 SF |
| Gross Rent Multiplier | 12.3 | Average Occupancy | 90% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1954 |
| Property Subtype | Apartment | Parking Ratio | 0.98/1,000 SF |
| Zoning | LAR3 | ||
| Price | $2,795,000 |
| Price Per Unit | $279,500 |
| Sale Type | Investment |
| Cap Rate | 5.30% |
| Gross Rent Multiplier | 12.3 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 7,129 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built | 1954 |
| Parking Ratio | 0.98/1,000 SF |
| Zoning | LAR3 |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | $1,885 | - |
| 2+1 | 3 | $1,910 | - |
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Moderately walkable
70/100
Very drivable
80/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 4214-007-004 | Total Assessment | $1,064,033 |
| Land Assessment | $425,609 | Annual Taxes | $34,938 ($4.90/SF) |
| Improvements Assessment | $638,424 | Tax Year | 2025 |
Property Taxes
Parcel Number
4214-007-004
Land Assessment
$425,609
Improvements Assessment
$638,424
Total Assessment
$1,064,033
Annual Taxes
$34,938 ($4.90/SF)
Tax Year
2025
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