12028 Venice Blvd Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90066
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,194 sqft
Price per Sqft $435
MLS Listing ID 24-354063
Bedrooms 6
Year Built 1960
Lot Size 8,248 Sqft
Acres 0.1893
Property Sub-Type Multi-Family
Property Description
Prime mixed-use investment opportunity in West LA with immediate value-add potential. The property features 6 residential (1 bed/1 bath) units, two retail spaces, 7 small offices, and two one-car garages (ADU conversion) all on a generous 8,200 square foot C2 Zoned lot. The ground floor features nine commercial spaces, including two retail storefronts and seven small offices, all leased month-to-month at below-market rents, offering an immediate 52% upside in commercial leases, bringing the cap rate to 7.9%. Above, six residential units (all 1-bed/1-bath) present an additional 53% rental upside. Two 1-car garages at the rear offer ADU conversion potential. Located on the same block as the Mar Vista Farmers Market, in a highly walkable, food-centric neighborhood, this A+ investment boasts a projected 9% cap rate post value-add enhancements. The 8,200 sq. ft. lot allows for the development of approximately 30 units, with the option to purchase the neighboring 12034 Venice Blvd for a combined 74-unit development site.
Location
State CA
County Los Angeles
Area Palms - Mar Vista
Zoning LAC2
Rooms
Other Rooms Other
Interior
Heating Other
Cooling Other
Equipment Other
Exterior
Parking Features Detached, Garage Is Detached, Parking Space, Side By Side, Uncovered
Garage Spaces 17.0
Building
Lot Description Alley Paved
Story 2
Level or Stories Two
Others
Special Listing Condition Standard