$4,825,000
$4,999,999
3.5%For more information regarding the value of a property, please contact us for a free consultation.
8,040 SqFt
SOLD DATE : 08/30/2023
Key Details
Sold Price $4,825,000
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 8,040 sqft
Price per Sqft $600
MLS Listing ID PW23049920
Sold Date 08/30/23
HOA Y/N No
Year Built 1971
Lot Size 6,303 Sqft
Acres 0.1447
Property Description
16 Fleet Street is a well positioned 10-unit apartment building situated on the highly sought-after Peninsula of Marina Del Rey, just one lot from the sand.
The property boasts a mix of (4) 2-bed/2-bath units, (4) 1-bed units, and (2) Bachelor units. (6) Units feature private balconies/patios. Tenants enjoy ample parking, on-site laundry and a bike storage room, as well as a large private yard facing a walk-street. Great proximity to the Marina and Venice Pier areas provides easy access to a range of retail and restaurant establishments.
The building offers 8,040 RSF of living space priced at $621/SF and $499,999 per unit, with a 17.5 GRM and 3.74% CAP (Proforma 11.5 GRM and 6.43% CAP) presenting immediate upside potential.
With its premier location, sizeable living space, and attractive pricing, 16 Fleet Street is an excellent and rare investment opportunity for any Los Angeles CRE Investor.
Location
State CA
County Los Angeles
Area C12 - Marina Del Rey
Zoning LAR3
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Heating None
Cooling None
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 10.0
Garage Description 10.0
Pool None
Community Features Biking
View Y/N Yes
View Ocean
Total Parking Spaces 13
Private Pool No
Building
Lot Description 6-10 Units/Acre
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 4225009037
Acceptable Financing Conventional
Listing Terms Conventional
Financing Cash to Loan
Special Listing Condition Standard
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Bought with Woody Stahl • Lyon Stahl Investment Real Est
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "