12518-12524 1/2 Venice Blvd
Los Angeles, CA 90066
Multifamily Property For Sale
·
11 Units
Property Facts
| No. Units | 11 | Construction Status | Demolished |
| Property Type | Multifamily | Building Size | 9,652 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Low-Rise | No. Stories | 2 |
| Building Class | C | Year Built | 1948 |
| Lot Size | 0.32 AC | Parking Ratio | 1.03/1,000 SF |
| Zoning | LAR3 | ||
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.32 AC |
| Construction Status | Demolished |
| Building Size | 9,652 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1948 |
| Parking Ratio | 1.03/1,000 SF |
| Zoning | LAR3 |
Amenities
Unit Amenities
- Hardwood Floors
Site Amenities
- Laundry Facilities
About 12518-12524 1/2 VENICE BLVD , LOS ANGELES, CA 90066
MOTIVATED SELLER! Contact listing agent for full marketing package. Prime Mar Vista location 11-unit multi-family property consisting of 3 buildings on a large double lot of over 14,000 S.F. zoned LAR-3 suitable to develop luxury condominiums. The Property features an excellent mix of 8-two bedroom one bath + dining area, 2-one bedroom one bath units and 1-three bedroom two bath unit. The Property is separately metered for gas and electricity minimizing the owner's expenses. On-site laundry room with machines owned by the Seller adds additional income. Property is not on the list of soft-story retrofit program (buyer to verify) eliminating the cost and hassle for the new owner. With significant upside of approximately of 41% in rents, a savvy investor will be able to increase the cash flow of the property and add value to the asset by increasing the rents as the units turnover. Priced at 17.6 GRM and 3.4% CAP with current low rents; 12.5 GRM and 5.2% CAP with rents at market.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | $1,670 | - |
| 1+1 | 2 | $1,480 | - |
| 3+2 | 1 | $2,319 | - |
Property Taxes
| Parcel Number | 4235-012-003 | Improvements Assessment | $4,355,000 |
| Land Assessment | $5,598,933 | Total Assessment | $9,953,933 |
Property Taxes
