12028 Venice Blvd Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90066
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,194 sqft
Price per Sqft $435
MLS Listing ID 24-354063
Bedrooms 6
Year Built 1960
Lot Size 8,248 Sqft
Acres 0.1893
Property Sub-Type Multi-Family
Property Description
Prime Mar Vista mixed-use investment opportunity featuring six residential units, two retail storefronts, seven small one-room commercial offices, and two one-car garages, all situated on an 8,200 sq. ft. C2 TOC Tier 2 zoned parcel. The property currently has one vacant residential unit and two vacant office suites, while the remaining tenants are all month-to-month. The front building includes two retail stores, seven small offices, and four residential units above, while the rear building offers two additional residential units. Two one-car garages between the buildings present excellent ADU conversion potential. With an in-place cap rate of 5.8% (once three vacancies are filled); and a pro forma cap rate of 10% once building is stabilized, this is the best value in Mar Vista. The zoning allows development of 3032 units on-site or up to approximately 74 units when combined with the neighboring 12034 Venice Blvd. Located on the same block as the Mar Vista Farmers Market and surrounded by popular eateries, coffee shops, and boutique retailers, the property offers unmatched neighborhood appeal, with Venice Beach, Abbot Kinney, and Marina del Rey just minutes away.
Location
State CA
County Los Angeles
Area Palms - Mar Vista
Zoning LAC2
Rooms
Other Rooms Other
Interior
Heating Other
Cooling Other
Equipment Other
Exterior
Parking Features Detached, Garage Is Detached, Parking Space, Side By Side, Uncovered
Garage Spaces 17.0
Building
Lot Description Alley Paved
Story 2
Level or Stories Two
Others
Special Listing Condition Standard