Property listed by Compass, Tamas Batyi 323-236-6450
$3,800,000
Exceptional opportunity to acquire a non-RSO, 11 unit apartment building comprised of 9 2-bedroom/2-bathroom units, and 2 one-bedroom/one-bath units, originally built in 1987 and totaling approximately 10,514 square feet of living space. The property currently offers an attractive 5.3% cap rate, with approximately 25% rental upside, presenting investors with the… Read More potential to achieve a projected cap rate of up to 7% as rents are brought to market levels. Amenities include assigned parking in a subterranean garage, community laundry facilities, and individually metered gas and electric utilities. The building has also benefited from recent capital improvements such as brand new roof, enhancing the property's condition and reducing near-term maintenance requirements. Ideally located in the heart of Mar Vista, just minutes from Venice Beach and Downtown Culver City.
With strong rental demand, significant rental upside, and a highly desirable central location, this asset presents a compelling opportunity for investors seeking both stable current income and long-term value growth in one of Los Angeles’ most dynamic rental markets. Read Less
Listing Snapshot
Days Online
10
Last Updated
Property Type
MixedUse
Lot Size
0.19 Acres
Year Built
1987
MLS Number
SB26178268
Additional Details
Building
Built in 1987, 1 building, 2 stories, Levels: Two, Entry level: 1, Entry location: 1
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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