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