Property listed by Shield CRE, Inc., Gianluca Jacoli 310-593-9869
$2,690,000
Price Reduced! Get ready to jump on an incredible opportunity in the heart of Culver City! Family owned and managed, first time on the market in 49 years. A short distance from Sony Studios and the vibrant energy of Downtown Culver City! Your future tenants will love the easy… Read More access to hot spots like One Culver, Culver Steps, Erewhon, Amazon Studios, NFL Network, Equinox Culver City, and Ivy Station. This prime location ensures high demand and continued appreciation. Offered at a current GRM of 11.37 and cap rate of 6.19% and a pro-forma cap rate of 7.06%. This property offers an outstanding unit mix designed to attract a variety of tenants, including one spacious 3-bedroom/2-bathroom unit, four comfortable 2-bedroom/1.75-bathroom units, one 1-bedroom unit, one large Single unit with a private patio and one large office/storage room which is rented but may be delivered vacant. Tenants benefit from 11 on-site parking places and you'll enjoy supplemental income from the on-site laundry. As an added plus, four of the seven units have undergone extensive and tasteful renovations within the past several years. You will also benefit from a low expense ratio on this well maintained property which includes a high quality double layer roof with a warranty that extends to 2037. With 6,749 SF of living area on a generous 7,495-SF lot and CCR4 zoning, this Culver City gem is truly a long-term investment you won't want to miss. It's an opportunity to secure a high-performing asset in one of the most desirable locations! Read Less
Listing Snapshot
Days Online
71
Last Updated
Property Type
Other
Beds
12
Square Ft.
6,749
Lot Size
0.17 Acres
Year Built
1968
MLS Number
25549265
30 Days Snapshot Of 90232
$2.01M
+4%
(avg) sold price
7
+75%
homes sold
62
+1%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1968, Building area total: 6,749, Levels: Two, Living area: 6749, 2 stories, 1 building
Income
Gross income: $236,640, Net operating income: $166,543
Laundry
LaundryRoom
Lot
0.1721 acres, 7,495 square feet, Size: 7,495
Parking
5 open parking spaces, 11 totals parking, Covered
Property
Zoning: CCR4YY
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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