12231 Pacific Ave
Los Angeles, CA 90066
Prime Mar Vista | 45% Rent Upside · Multifamily Property For Sale · 7 Units

The LAAA Team of Marcus & Millichap is pleased to present 12231 Pacific Avenue, a seven-unit multifamily property in Mar Vista, one block south of the Venice Boulevard
retail corridor. Built 1963, the property comprises five 2BD/2BA units of approximately 900 SF and two 3BD/2BA units of approximately 1,100 SF across 6,950 SF on a 7,501
SF lot. Two-story wood frame with seven parking spaces serving seven units and an arcaded street-facing elevation. Registered under the City of Los Angeles Rent Stabilization Ordinance.

The investment case is near-term rent capture with no capital requirement. In-place rents run $1,643 to $2,146 per month against MLS leased comparables of $2,300 to
$3,395 for two-bedroom product within 0.8 miles, for approximately 44.9% rent upside. Four of seven tenancies date to 2005 or earlier, and all seven leases are month to- month with no fixed terms to wait out.

Occupancy stands at 100% with zero delinquency across all seven units as of August 11, 2026, positioning the deal for 1031 buyers, family offices, and value-add operators\ seeking Westside exposure. 12727 Matteson Avenue, half a mile west, shares the subject's 1963 vintage and 6,950 SF building area and asks $2,799 on renovated twobedroom units.
Mar Vista sits on the Westside between Culver City and the Santa Monica coastline, anchored by the Venice Boulevard commercial corridor running east to west through
the community. The surrounding blocks are dense 1950s through 1970s apartment stock with single-family neighborhoods to the north and south. Neighborhood retail, pharmacy service, and daily conveniences operate along Venice Boulevard within a short walk, with Metro bus service running directly on the corridor.

Westside employment centers sit within a short drive. Culver City and its studio and technology campuses are approximately 2.3 miles northeast, Playa Vista 2.1 miles
south, Marina del Rey 2.0 miles southwest, and Santa Monica 3.8 miles west. The 405 Freeway is approximately 0.8 miles east and the 10 Freeway 1.7 miles north. Los Angeles International Airport sits 4.5 miles south.

The 90066 zip code is 62% renter-occupied across 25,279 occupied households, with a median household income of $114,141 against a median home value of $1,695,400, a spread that holds the renter base out of ownership. Median gross rent stands at $2,279. Housing stock is 54% pre-1970, with 14,602 of 27,045 units built before that date, which constrains new supply across the submarket.