11262 Venice Blvd

09-22-2022
09-22-2022

11262 Venice Blvd., Culver City, CA 90230

  • 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
     

Property Description

The King Group of Marcus & Millichap is 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.
 

Unit Mix

Description No. of Units Sq ft. Avg. Monthly Rent
1 Bed/ 1 Bath 2 1 $ 1,225
2 Bed/ 1 Bath 2 1 $ 1,400

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
Multifamily type
Garden Style
Price
$ 1,500,000
No. of Units
4
Cap Rate
2.08%
GRM / GIM
23.8
Year Built
1954
Building Size
3,060 Sq ft
Lot Size
0 acres
No. of Stories
2
APN
4214-001-018
Opportunity Zone
No
Buy Side Fee
2.5%
Price per unit
$ 375,000
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34.011613, -118.418808

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