Sold for $4,025,000 on 07/09/24
Listing Provided by:
Aaron Jacobson DRE #02100737 310-729-1559,
Lyon Stahl Investment Real Estate, Inc.,
Cameron Samimi DRE #02035763,
Lyon Stahl Investment Real Estate, Inc.
Bought with: Lyon Stahl Investment Real Estate, Inc.
$4,025,000
11473 Venice Blvd, Los Angeles, CA 90066
24beds
14baths
12,090sqft
Multi Family
Built in 1956
-- sqft lot
$3,946,500 Zestimate®
$333/sqft
$2,952 Estimated rent
Owner options
What's special
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
Zillow last checked: 8 hours ago
Listing updated: July 10, 2024 at 09:20am
Listing Provided by:
Aaron Jacobson DRE #02100737 310-729-1559,
Lyon Stahl Investment Real Estate, Inc.,
Cameron Samimi DRE #02035763,
Lyon Stahl Investment Real Estate, Inc.
Bought with:
Aaron Jacobson, DRE #02100737
Lyon Stahl Investment Real Estate, Inc.
Cameron Samimi, DRE #02035763
Lyon Stahl Investment Real Estate, Inc.
Source: CRMLS,MLS#: SB24027071
Originating MLS: California Regional MLS
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 24
- Bathrooms: 14
Appliances
- Laundry: Common Area
Features
- Common walls with other units/homes: No Common Walls
Interior area
- Total structure area: 12,090
- Total interior livable area: 12,090 sqft
Property
Parking
- Total spaces: 9
- Parking features: Garage
- Garage spaces: 9
Features
- Entry location: Front
- Pool features: None
Lot
- Size: 0.28 Acres
- Features: 0-1 Unit/Acre
Details
- Parcel number: 4234009013
- Zoning: LAR3
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Condition
- New construction: No
- Year built: 1956
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & neighborhood
Community
- Community features: Biking, Dog Park, Golf, Park, Sidewalks, Urban
Location
- Region: Los Angeles
Other
Other facts
- Listing terms: Cash,Cash to Existing Loan,Cash to New Loan,Conventional,1031 Exchange
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Estimated market value
$3,946,500