$1,075,000
$1,300,000
17.3%For more information regarding the value of a property, please contact us for a free consultation.
3,060 SqFt
SOLD DATE : 04/20/2023
Key Details
Sold Price $1,075,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Square Footage 3,060 sqft
Price per Sqft $351
MLS Listing ID PW22231075
Sold Date 04/20/23
HOA Y/N No
Year Built 1954
Lot Size 5,000 Sqft
Acres 0.1148
Property Description
• TRUE VALUE-ADD OPPORTUNITY WITH APPROXIMATLEY 75% UPSIDE IN RENTS
• CENTRAL WEST LOS ANGELES LOCATION ON VENICE BLVD IN DESIREABLE CULVER CITY
• IMMEDIATELY ADJACENT TO 405 FREEWAY AND CLOSE TO METRO EXPO LINE, PROVIDING EASY-ACCESS FOR COMMUTING TENANTS
• PLENTY OF STREET PARKING, ALONG WITH TWO, 2-CAR GARAGES
• COMMON-AREA LAUNDRY ROOM
• 1954 CONSTRUCTION
• HISTORICALLY LOW FINANCING AVAILABE FOR MULTI-FAMILY PROPERTIES
We are pleased to present a 4-unit apartment building located at 11262 Venice Boulevard in Culver City, California. Built in 1954, the subject property consists of 3,060 rentable square feet, spread throughout a 5,000 square foot lot. The unit-mix consists of two 2-bedroom/ 1-bath units and two 1-bedroom/ 1-bath units. Owners can enjoy the high demand for rentals in West Los Angeles with desirable rental demographics that include educated and affluent young professionals. Tenants enjoy living in close proximity to many employment opportunities, entertainment venues, shopping, and restaurants.
Culver City continues to progress forward and is currently experiencing major redevelopments including the Ivy Station project, which includes 500,000 square feet of offices, apartments, a hotel, stores and restaurants. Apple's 550,000 square-foot mixed-use campus, along with companies like Amazon Studios, Warner Media and Tik Tok can also be found in this area.
This is an excellent opportunity to acquire a quality asset with true rental upside, bringing a steady return to the Buyer after conducting renovations.
Location
State CA
County Los Angeles
Area C28 - Culver City
Zoning CCR4YY
Rooms
Ensuite Laundry None
Interior
Laundry Location None
Fireplace No
Laundry None
Exterior
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Curbs, Gutter(s), Sidewalks
Total Parking Spaces 4
Private Pool No
Building
Lot Description 2-5 Units/Acre
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 4214001018
Energy Description 1040.0
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Financing Cash to Loan
Special Listing Condition Standard
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Bought with NONE NONE • None MRML
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