12028-12032 Venice Blvd 8 Unit Apartment Building $2,695,000 ($336,875/Unit) 6.09% Cap Rate Los Angeles, CA 90066

Seize this exceptional investment opportunity in one of Los Angeles’ most sought-after locations! This mixed-use property features six one-bedroom residential units, two retail storefronts, seven small office suites, and two one-car garages with potential for ADU conversion—offering multiple streams of income and significant value-add potential in both commercial and residential spaces. The property sits on an 8,200 sq. ft. C2 TOC Tier 2 parcel, creating additional opportunities for redevelopment and long-term growth.
All tenants—both residential and commercial—are currently leased month-to-month, providing flexibility for immediate repositioning. With the lease-up of the one vacant residential unit, one retail unit and two vacant office suites, the property will stabilize at an in-going cap rate of 6.09%. There is an approximate 72% total rent upside across the entire building, elevating performance to a 10.11% pro forma cap rate based on a projected NOI of $272,623. Additional income potential exists through the conversion of the two existing one-car garages into accessory dwelling units (ADUs), further enhancing cash flow and long-term value.
The property consists of a front building featuring two retail stores (one is vacant), seven small office suites, and four residential units above, along with a separate back building that contains two additional residential units. Between the two structures are two one-car garages, which offer the potential for conversion into an ADU to further increase income. Situated on an 8,200 sq. ft. C2 TOC Tier 2 parcel, the site can be developed into approximately 30–32 residential units.
Situated in the heart of Mar Vista, this property is just steps from the beloved Mar Vista Farmers Market, a vibrant weekly gathering that attracts locals and visitors alike. The surrounding neighborhood offers an eclectic mix of cafes, restaurants, and boutique shops, including favorites like Little Fatty, Alana’s Coffee Roasters, and Rutabegorz. Residents and tenants enjoy quick access to the beach lifestyle, with Venice Beach, Abbot Kinney Boulevard, and the Marina just minutes away, making this location a highly desirable blend of community charm and coastal convenience.