12518Venice

  • Los Angeles

  • $4,150,000
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Residential Income Details

Description
VALUE ADD DEAL. MOTIVATED SELLER! Please contact broker for a full marketing package. Prime Mar Vista location 11-unit multi-family property consisting of 3 buildings on a large double lot of over 14,000 S.F. zoned LAR-3 suitable to develop luxury condominiums. The Property features an excellent mix of 8-two bedroom one bath + dining area, 2-one bedroom one bath units and 1-three bedroom two bath unit. The property is separately metered for gas and electricity minimizing the owner's expenses. The property also features a laundry room for the convenience of the residents and additional monthly income. Property is not on the list of soft-story retrofit program (Buyer to confirm). Huge upside of approximately 44% in rents! Priced at $377,272/unit, 18 x current low rents and 3.3% CAP. Priced at 12.5 x market rents and 5.6% CAP.
Essential
MLS #18347154
Price$4,150,000
Number of Units11
Sale TypeStandard
StatusPending
Listing BrokerageCharles Dunn West La
Listing AgentRamin Gheitanchi
Listing Agent BRE #01501715
Interior
AppliancesNone
CoolingNone
Exterior
ParkingCarport Attached
Community
AreaC13 - Palms - Mar Vista
Address12518 Venice
CityLos Angeles
CountyLos Angeles
StateCA
ZipCode90066
School

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Based on information from California Regional Multiple Listing Service, Inc. as of Saturday, July 21, 2018. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.