Culver City Office Property 12044 W Washington Blvd 5,448 SF 100% Leased Office Building Los Angeles, CA 90066 $2,700,000 ($495.59/SF) 5.17% Cap Rate

The subject property is a two story commercial office building consisting of 4 individual office suites, with parking for 9 vehicles on site. The parcel is zoned C3 (Regional Commercial) which allows office and some retail uses. The property was original built as a 6 units apartment building in 1953 and was later converted to an Office Building in 2007 with permits from Culver City. Over $320,000 in improvements were made in 2007 upgrading electrical, plumbing, mechanical, and other infrastructure throughout the property in order to convert the property into four postproduction offices for the entertainment industry.
On each floor there are 2 office suites. Each floor has a smaller office suite with a lobby, 3 private offices one ADA bathroom and a kitchen/break area. The larger office suite on each floor has 4 private offices, one bathroom and one kitchen. The suites are contiguous on each floor, so they could potentially be combined to make 1 larger office on either floor or both floors. More recently the suites were rented out as four individual offices. The property can be leased out as an investment property, or used for an owner user with potential for an SBA loan if an owner-user occupies 51% or more of the property.
Ideally located directly across from a Kaiser medical facility, west of the 405 freeway, and close to Marina Del Rey. In the attached supplement is a list of expenditures for the upgrades performed. The property has excellent visibility for signage on Washington Boulevard. A first floor entry ramp provides easy access. An attractive & spaciously landscaped patio provides a comfortable and private outdoor common area. There are 6 Ring security cameras around the property, 2 storage rooms and 6 lockers. The sale includes 2 parcels: APN 4232-017-004 & 4232-017-003 (where the approx. 700 sq. ft. carports are located), totaling approx. 8301 sq. ft. of land. Attached photo of carports (with garage doors) is virtual and is not representative of its current configuration, it currently has 6 covered and 3 open spaces. Buyer is to verify the property square footage and all aspects of its intended use with Culver City.