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$ 2,695,000
Est. payment /mo
Price Dropped by $200K
12028 Venice BLVD Los Angeles, CA 90066
6 Beds
6 Baths
6,194 SqFt
UPDATED:
02/24/2025 11:10 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,194 sqft
Price per Sqft $435
MLS Listing ID 24354063
Bedrooms 6
HOA Y/N No
Year Built 1960
Lot Size 8,245 Sqft
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 C13 - Palms - Mar Vista
Zoning LAC2
Interior
Fireplace No
Exterior
Parking Features One Space, Side By Side, Uncovered
Attached Garage No
Total Parking Spaces 17
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4235024005
Special Listing Condition Standard
Listed by Oron Maher • Maher Commercial Realty