Save to Favorites

Print

Share

Share via

Twitter

Facebook

Email

Email a Friend

Your Email

Friend's Email

Note

Are You Human? 1 + 1 =

PRICE $1,900,000 BEDS n/a BATHS 0 HOME SIZE 2,688 sqft LOT SIZE 8,259 sqft Request More Info

Unique single story multi-family 4 unit property on a spacious double lot consisting of 8257 SF located in prime location of McLaughlin-Culver City in Los Angeles, near Venice, Marina Del Rey, Santa Monica, LAX, Playa Vista, Century City, and Silicon Beach. This property has an ideal unit mix with two 2 bedroom/1 bath units and two 1 bedroom/1 bath units. Property contains a separate room for shared laundry facilities and two 2 car detached garages. There is additional parking in the long driveway and on the street right in front of the property for easy access to all the units. Each unit has its own address and is separately metered for Electricity and Gas. All units have wall heaters. In the back of the property there is a large common area where you can entertain and have BBQ’s with family and friends on warm California nights. Owners/Investors can rent out garages for storage or take advantage of current ADU laws to convert these to an additional unit. (Buyer to verify - Note: ADU Site Plan is included in the Supplements). Zoned RMD allows you to take advantage of the huge lot enabling plenty of room to expand and build up to 5 units on this property (buyer to verify). With excellent upside potential in rents, this offering presents an excellent value-add opportunity in a sought-after coastal market ideal for investors or developers. Three units have tenants and one of the 2 bedroom units is vacant. The building has a history of very low vacancy, and is well-cared for. This property allows investors the perfect opportunity to expand and increase their income in this strong rental market with an affluent tenant base or simply start collecting rental income on day 1. Top Rated K-12 Culver City school district. This location is in close proximity to flourishing Los Angeles employers of Silicon Beach and Downtown Culver City, such as Apple (1.8 miles), Amazon (2.1 miles), Sony Studios (1.4 miles) and Google (4.2 miles). Also nearby is the NFL Network (.7 miles), Metro E line (Expo), Retail Shopping, plenty of Restaurants & Entertainment, Parks and Beaches. Easy access to the 405 and 10 freeways. Excellent walk Score of 74 (very walkable) and Transit Score of 50. The Expo Line runs through Mar Vista which connects Santa Monica to Downtown LA. Pro-forma Cap Rate is 4.64% and Pro-forma Gross Margin is 15.3%. Note: Property is sold as-is. No repairs or credits will be provided.