Listing provided courtesy of Aaron Jacobson of Lyon Stahl Investment Real Estate, Inc.. Last updated 2024-05-12 08:11:20.000000. Listing information © 2023 CRMLS.
Asking Price: $4,100,000
11473 Venice, Los Angeles CA 90066
Community: C13 - Palms - Mar Vista
Status: Active
This Apartment property was built in 1956 and is priced at $4,100,000. Please see the additional details below.
12.48 GRM and 5.06% cap in Prime Mar Vista!
11465-11473 Venice Blvd is an amazing opportunity to own two side
by side courtyard 7 unit buildings at $339/Sq. Ft.
You will not find a better price per door or a better unit mix in the
most coveted market in Los Angeles. The property has an
astounding 56% rental upside. Whether you are long term or a
value-add investor, The Venice Properties are the perfect assets to
help achieve your investment goals.
The Venice Properties feature 14 units and a large foot print of
12,090 rentable square feet. Each building is identical to the other
with a combined unit mix of (10) 2-Bed/1-Bath,and (4) 1-Bed/1-
Bath Units. Just steps from Downtown Culver City, this investment
is in one of the most sought-after neighborhoods on the Westside.
Priced at $4,100,000 the property offer a very low $292k per unit
and $339 Sq Ft. The property is currently operating at 12.48 GRM
with 56% in Rental Upside!
This well maintained asset comes with a brand new roof across
both structures and the soft story retrofit completed, minimizing
any CapEx for the new buyer.
The Venice Properties are sandwiched between new tech
companies such as Google, Meta, Snapchat, Hulu, Sony, HBO and
Apple
*GRM and Cap Rate income assume Manager's Unit to be vacant
and rented at Market Rate