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12665 Venice Blvd - 7 units in Prime Mar Vista 7 Unit Apartment Building Offered at $1,500,000 at a 4.35% Cap Rate in Los Angeles, CA 90066
INVESTMENT HIGHLIGHTS
- Part of a portfolio with both 12715 & 12717 Venice Blvd as well as 3637 Mentone Blvd totaling 25 Units.
- Priced at an extremely attractive cost per unit basis
- Situated in the perennially hip and highly popular Mar Vista neighborhood
EXECUTIVE SUMMARY
We are pleased to present the exclusive opportunity to acquire a well-located, professionally managed multi-family property on LA's Westside. Situated in the perennially hip and highly popular Mar Vista neighborhood, 12665 Venice Boulevard was built in 1958 and features 7 apartments including six 1-bed/1-bath units and one 2-bed/1-bath unit. Units boast spacious layouts with separate dining areas, walk-in closets, and new flooring in many instances. There are on-site laundry facilities, off-street parking, low maintenance landscaping, and separate meters for gas and electricity. Priced at an extremely attractive cost per unit basis, 12665 Venice truly offers the astute investor an excellent turnkey property with a tremendous foundation for income and cap rate growth as well as long-term asset appreciation.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$131,946
|
$29.06
|
| Other Income |
$2,521
|
$0.56
|
| Vacancy Loss |
$3,958
|
$0.87
|
| Effective Gross Income |
$130,509
|
$28.75
|
| Taxes |
$17,991
|
$3.96
|
| Operating Expenses |
$47,275
|
$10.41
|
| Total Expenses |
$65,266
|
$14.38
|
| Net Operating Income |
$65,243
|
$14.37
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $131,946 |
| Annual Per SF | $29.06 |
| Other Income | |
|---|---|
| Annual | $2,521 |
| Annual Per SF | $0.56 |
| Vacancy Loss | |
|---|---|
| Annual | $3,958 |
| Annual Per SF | $0.87 |
| Effective Gross Income | |
|---|---|
| Annual | $130,509 |
| Annual Per SF | $28.75 |
| Taxes | |
|---|---|
| Annual | $17,991 |
| Annual Per SF | $3.96 |
| Operating Expenses | |
|---|---|
| Annual | $47,275 |
| Annual Per SF | $10.41 |
| Total Expenses | |
|---|---|
| Annual | $65,266 |
| Annual Per SF | $14.38 |
| Net Operating Income | |
|---|---|
| Annual | $65,243 |
| Annual Per SF | $14.37 |
PROPERTY FACTS
| Price | $1,500,000 | Property Type | Multifamily |
| Price Per Unit | $214,286 | Building Size | 4,540 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 4.35% | No. Stories | 2 |
| Gross Rent Multiplier | 11.3 | Year Built | 1958 |
| No. Units | 7 |
| Price | $1,500,000 |
| Price Per Unit | $214,286 |
| Sale Type | Investment |
| Cap Rate | 4.35% |
| Gross Rent Multiplier | 11.3 |
| No. Units | 7 |
| Property Type | Multifamily |
| Building Size | 4,540 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1958 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 1 | - | 900 |
| 1+1 | 6 | - | 600 |
1 of 1
Walk Score®
Very Walkable (85)
Bike Score®
Very Bikeable (83)
ZONING
| Zoning Code | LAR3 |
| LAR3 |
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12665 Venice Blvd - 7 units in Prime Mar Vista
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