12240 Pacific Ave

08-05-2022
08-07-2022

12240 Pacific Ave, Los Angeles, CA 90066

  • Fully Renovated Units: New Washer/Dryers, Flooring, Kitchen Appliances, Countertops, Cabinets, Bathrooms, and Interior Lighting
  • Fully Renovated Exterior: Re-Conditioned Stucco, Paint, Stained Wood Exterior Siding, Landscaping, Lighting, and Pre-wired Surveillance System
  • Unit Mix: (2) 2-Bed/1-Bath, (7) 1-Bed/1-Bath, (4) Studio Apartments
  • New Main Circuit Breakers with 600 Amp Service
  • Current CAP: 3.36% | Current GRM: 19.68

Property Description

Lyon Stahl Investment Real Estate is proud to present 12240 Pacific Ave in Los Angeles. This trophy 13-unit apartment building is located in the highly desirable Mar Vista submarket. The luxurious 7,108 SF building is situated on a 7,500 SF lot and has been completely remodeled with topof-the-line upgrades. This property features a unit mix of (7) 1-bed/1-bath units, (4) studio apartments and (2) 2-bed/2-bath units , currently stabilizing at a 3.54% CAP rate.* The entire property has undergone the following renovations: in-unit Washer/Dryers, Wood Plant Waterproof Flooring, New SS Kitchen Appliances, New Quartz Kitchen Countertops with New ‘Soft-Close’ Cabinets, Subway Tile Backsplashes, SS Farmhouse Sinks, Completely Renovated Bathrooms with Full Slab Quartz Tub Surrounds, All New LED Interior Lighting, Instant Hot Water, and High Speed Internet throughout the units.
The property is in one of Los Angeles’ Westsides hottest submarkets, just a short distance from Venice, Culver City, Santa Monica, and the prime retail corridors on Rose Avenue and Abbot Kinney Boulevard. This is a perfect opportunity for a yield-focused investor looking to purchase a turn-key asset in one of the most desirable rental markets in Southern California.

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
Multifamily type
Garden Style
Price
$ 8,175,000
No. of Units
13
Cap Rate
3.36%
GRM / GIM
19.68
Year Built
1964
Building Size
7,108 Sq ft
Lot Size
7500 sq ft
No. of Stories
2
Opportunity Zone
No
Price per unit
$ 628,846
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34.003067, -118.431524

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