12518 Venice

    Los Angeles (City), CA 90066
    • $4,150,000
    • STATUS: Pending
    • ON SITE: 123 days
    • ID#: 18347154
    Pending
    UPDATED: 63 min ago
    $4,150,000
    • 0
      BEDS
    • 0.32
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 9,652
      SQFT
    • $430
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1948
    County:

    School Ratings & Info

    Description

    VALUE ADD DEAL. MOTIVATED SELLER! Please contact broker for a full marketing package. Prime Mar Vista location 11-unit multi-family property consisting of 3 buildings on a large double lot of over 14,000 S.F. zoned LAR-3 suitable to develop luxury condominiums. The Property features an excellent mix of 8-two bedroom one bath + dining area, 2-one bedroom one bath units and 1-three bedroom two bath unit. The property is separately metered for gas and electricity minimizing the owner's expenses. The property also features a laundry room for the convenience of the residents and additional monthly income. Property is not on the list of soft-story retrofit program (Buyer to confirm). Huge upside of approximately 44% in rents! Priced at $377,272/unit, 18 x current low rents and 3.3% CAP. Priced at 12.5 x market rents and 5.6% CAP.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-09-24T16:33:44.413. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
    www.amazingtemeculahomes.com/homes/83881307

    12518 Venice Los Angeles (City), CA 90066

    • Price: $4,150,000
    • Status: Pending
    • Updated: 63 min ago
    • ID#: 18347154
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.32
    Acres
    9,652
    SQFT
    $430
    $/SQFT
    1948
    Built
    Neighborhood:
    C13 - Palms - Mar Vista
    County:
    Los Angeles
    Area:
    C13 - Palms - Mar Vista
    Property Description
    VALUE ADD DEAL. MOTIVATED SELLER! Please contact broker for a full marketing package. Prime Mar Vista location 11-unit multi-family property consisting of 3 buildings on a large double lot of over 14,000 S.F. zoned LAR-3 suitable to develop luxury condominiums. The Property features an excellent mix of 8-two bedroom one bath + dining area, 2-one bedroom one bath units and 1-three bedroom two bath unit. The property is separately metered for gas and electricity minimizing the owner's expenses. The property also features a laundry room for the convenience of the residents and additional monthly income. Property is not on the list of soft-story retrofit program (Buyer to confirm). Huge upside of approximately 44% in rents! Priced at $377,272/unit, 18 x current low rents and 3.3% CAP. Priced at 12.5 x market rents and 5.6% CAP.
    Exterior Features

    Lot Size Dimensions 100X140 Lot Size Units Square Feet Parking Features Carport Attached Parking YN Yes

    Interior Features

    Appliances None Appliances YN No Cooling None Cooling YN No Laundry Features None

    Property Features

    Cap Rate 3.30 Gross Multiplier 18.00 Gross Operating Income 223670.00 Improvements Amount 463649 Land Value 550328 Laundry YN No Net Operating Income 137076.00 Special Listing Conditions Standard Total Expenses 86594.00 Zoning Lar3

    Listing provided courtesy of Ramin Gheitanchi of Charles Dunn West La.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-09-24T16:33:44.413. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
     
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