Marcus and Millichap is pleased to offer a rare opportunity to acquire a Six Unit Multifamily property at 12916 and 12922 Venice Boulevard in the west side of Los Angeles. It’s located on the South East corner of Venice Boulevard and Lyceum Avenue. The property is located in a very high traffic area and is less three blocks from Venice High School and two miles from the Venice Boardwalk, Mother's Beach and Marina Del Rey Harbor. Tenants can also enjoy easy access to public transit and the 405 freeway. With such easy access to outdoor recreation the property attracts residents looking to get a taste of the beach life. The tenants are within walking distance of many dining, shopping, and entertainment options.
This 3,086 square feet multifamily was built in 1936 and 1948 and is subject to rent control. The property consists of one single, four one bedroom/one bath, one two bedroom/one bath units. This is an ideal investment for an investor looking for a prime location with huge rental upside in the wonderful neighborhood of Mar Vista which has seen a tremendous boom as a result of the outrageous pricing in Venice just two miles away from this property.
In addition to the rental upside, there is a month to month billboard on site generating passive income. The lease for the billboard dates back to 1982 so a savvy investor can increase this income too. Since there are two separate parcels providing an investor the opportunity to sell each parcel separately. One parcel is a Fourplex and the other a Duplex so if purchased separately a buyer can acquire the property as an owner user.
