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11473 Venice Boulevard

Los Angeles (City), CA 90066
  • $4,100,000
  • STATUS: Active Under Contract
  • ON SITE: 129 Days
  • ID#: SB24027071
Under Contract
UPDATED: 139 min ago
$4,100,000
  • 0
    BEDS
  • 0.28
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1956
County:

School Ratings & Info

Listing Agent(s): Aaron Jacobson of Lyon Stahl Investment Real Estate, Inc. (310-425-9838) and Cameron Samimi of Lyon Stahl Investment Real Estate, Inc.(310-425-9838)


Description

12.48 GRM and 5.06% cap in Prime Mar Vista!11465-11473 Venice Blvd is an amazing opportunity to own two sideby side courtyard 7 unit buildings at $339/Sq. Ft.You will not find a better price per door or a better unit mix in themost coveted market in Los Angeles. The property has anastounding 56% rental upside. Whether you are long term or avalue-add investor, The Venice Properties are the perfect assets tohelp achieve your investment goals.The Venice Properties feature 14 units and a large foot print of12,090 rentable square feet. Each building is identical to the otherwith a combined unit mix of (10) 2-Bed/1-Bath,and (4) 1-Bed/1-Bath Units. Just steps from Downtown Culver City, this investmentis in one of the most sought-after neighborhoods on the Westside.Priced at $4,100,000 the property offer a very low $292k per unitand $339 Sq Ft. The property is currently operating at 12.48 GRMwith 56% in Rental Upside!This well maintained asset comes with a brand new roof acrossboth structures and the soft story retrofit completed, minimizingany CapEx for the new buyer.The Venice Properties are sandwiched between new techcompanies such as Google, Meta, Snapchat, Hulu, Sony, HBO andApple*GRM and Cap Rate income assume Manager's Unit to be vacantand rented at Market Rate

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-18T11:27:26.653. 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 deemed reliable but is not guaranteed accurate by the MLS or Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.
www.playavistaliving.com/homes/147423337
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11473 Venice Boulevard Los Angeles (City), CA 90066

  • Price: $4,100,000
  • Status: Active Under Contract
  • On Site: 129 Days
  • Updated: 139 min ago
  • ID#: SB24027071
0
Beds
0
Baths
0
½ Baths
0.28
Acres
1956
Built
Neighborhood:
C13 - Palms - Mar Vista
County:
Los Angeles
Area:
C13 - Palms - Mar Vista
Property Description
12.48 GRM and 5.06% cap in Prime Mar Vista!11465-11473 Venice Blvd is an amazing opportunity to own two sideby side courtyard 7 unit buildings at $339/Sq. Ft.You will not find a better price per door or a better unit mix in themost coveted market in Los Angeles. The property has anastounding 56% rental upside. Whether you are long term or avalue-add investor, The Venice Properties are the perfect assets tohelp achieve your investment goals.The Venice Properties feature 14 units and a large foot print of12,090 rentable square feet. Each building is identical to the otherwith a combined unit mix of (10) 2-Bed/1-Bath,and (4) 1-Bed/1-Bath Units. Just steps from Downtown Culver City, this investmentis in one of the most sought-after neighborhoods on the Westside.Priced at $4,100,000 the property offer a very low $292k per unitand $339 Sq Ft. The property is currently operating at 12.48 GRMwith 56% in Rental Upside!This well maintained asset comes with a brand new roof acrossboth structures and the soft story retrofit completed, minimizingany CapEx for the new buyer.The Venice Properties are sandwiched between new techcompanies such as Google, Meta, Snapchat, Hulu, Sony, HBO andApple*GRM and Cap Rate income assume Manager's Unit to be vacantand rented at Market Rate
Exterior Features

Entry Level 1 Entry Location Front Lot Features 0-1 Unit/Acre Number Of Separate Electric Meters 16 Parking Total 9 Pool Features None Pool Private YN No Property Attached YN No

Interior Features

Common Walls No Common Walls

Property Features

Additional Parcels YN No Cap Rate 4.89 Common Interest Community Apartment Community Features BikingDog ParkGolfParkSidewalksUrban Electric Expense 13200 Fuel Expense 0 Garage YN Yes Gross Income 328635 Gross Scheduled Income 328635 Insurance Expense 9068 Land Lease YN No Laundry Features Common Area Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to Existing LoanCash to New LoanConventional1031 Exchange Maintenance Expense 9100 Net Operating Income 207443 New Construction YN No New Taxes Expense 49610 Number Of Separate Gas Meters 16 Number Of Separate Water Meters 2 Operating Expense 111333 Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 6360 Vacancy Allowance Rate 3 Water Sewer Expense 10600 Water Source Public Zoning LAR3



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-18T11:27:26.653. 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 deemed reliable but is not guaranteed accurate by the MLS or Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.
 
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Team Tami | Palm Realty Boutique
323 Culver Blvd.
Playa del Rey CA, 90293
Listing Agent(s): Aaron Jacobson of Lyon Stahl Investment Real Estate, Inc. (310-425-9838) and Cameron Samimi of Lyon Stahl Investment Real Estate, Inc.(310-425-9838)