Aaron Jacobson
Lyon Stahl Investment Real Estate, Inc.
310-425-9838
12.48 GRM and 5.06% cap in Prime Mar Vista! 11465-11473 Venice Blvd is an amazing opportunity to own two side by side courtyard 7 unit buildings at $339/Sq. Ft. You will not find a better price per door or a better unit mix in the most coveted market in Los Angeles. The property has an astounding 56% rental upside. Whether you are long term or a value-add investor, The Venice Properties are the perfect assets to help achieve your investment goals. The Venice Properties feature 14 units and a large foot print of 12,090 rentable square feet. Each building is identical to the other with a combined unit mix of (10) 2-Bed/1-Bath,and (4) 1-Bed/1- Bath Units. Just steps from Downtown Culver City, this investment is in one of the most sought-after neighborhoods on the Westside. Priced at $4,100,000 the property offer a very low $292k per unit and $339 Sq Ft. The property is currently operating at 12.48 GRM with 56% in Rental Upside! This well maintained asset comes with a brand new roof across both structures and the soft story retrofit completed, minimizing any CapEx for the new buyer. The Venice Properties are sandwiched between new tech companies such as Google, Meta, Snapchat, Hulu, Sony, HBO and Apple *GRM and Cap Rate income assume Manager's Unit to be vacant and rented at Market Rate
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Water Source : Public
Sewer : Public Sewer
Year Built: 1956
Building Area Total: 12,090
None
Common Area
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.2754
Lot Size Source: Assessor
Lot Size Square Feet: 11998
Original List Price: 4,100,000
Listing Contract Date: 2024-02-07
Listing Agreement: Exclusive Right To Sell
Parcel Number: 4234009013
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: C13 - Palms - Mar Vista
Postal Code Plus 4: 4035
Directions: Off Venice and McLaughlin
Zoning: LAR3
Source Property Type: Residential Income
Area: C13 - Palms - Mar Vista
Property SubType: Apartment
Property Age: 68
Common Walls: No Common Walls
Structure Type: Apartment
Year Built Source: Appraiser
Entry Level: 1
Entry Location: Front
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
3875 Marcasel Avenue, Los Angeles, CA,90066 | $2,495,000 | 2 | 2 | 1,588 | 10853 Sqft |
12566 Indianapolis Street, Los Angeles, CA,90066 | $2,300,000 | 3 | 3 | 2,063 | 5700 Sqft |
12495 Greene Avenue, Los Angeles, CA,90066 | $1,790,000 | 6 | 4 | 3,204 | 4814 Sqft |
12495 Greene Avenue, Los Angeles, CA,90066 | $1,790,000 | -- | -- | 3,204 | 4814 Sqft |
11702 Charnock Road, Los Angeles, CA,90066 | $2,349,000 | 3 | 2 | 2,410 | 980 Sqft |
4980 S Centinela Avenue, Los Angeles, CA,90066 | $5,650,000 | 12 | -- | 10,950 | 5858 Sqft |
12420 Greene Avenue, Los Angeles, CA,90066 | $3,999,999 | 16 | -- | 7,205 | 9599 Sqft |
12124 Pacific Avenue, Los Angeles, CA,90066 | $11,495,000 | -- | -- | -- | 30001 Sqft |
3226 S Barrington Avenue, Los Angeles, CA,90066 | $2,400,000 | 4 | 3 | 2,317 | 2732 Sqft |
3220 S Barrington Avenue, Los Angeles, CA,90066 | $2,100,000 | 4 | 3 | 2,070 | 1344 Sqft |
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ByOwner last updated this listing 05/25/2024 @ 18:48
MLS: SB24027071
LISTED BY: Aaron Jacobson, Lyon Stahl Investment Real Estate, Inc.
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.