12320 Washington Pl - Apartments FOR SALE


Los Angeles, CA 90066
$2,288,000 USD
310-990-3417
12320 Washington Pl, Los Angeles, CA for Sale
$2,288,000 USD
Apartments - FOR SALE
1/12
null | 3.11% Cap Rate

12320 Washington Pl
Los Angeles, CA 90066


HIGHLIGHTS

  • ADU Opportunity!
  • Strong Rental Market
  • Proximity to Employers
  • Community and Walkability
  • Strong Growth Potential

OVERVIEW

We are pleased to present the opportunity to acquire 12314 and 12320 Washington Place, two side-by-side 4-plexes in Culver City. These buildings are located just within the border of Culver City, adjacent to Marina Del Rey, Venice, Mar Vista, and Playa Vista. They benefit from proximity to major employment centers, transportation hubs, restaurants, and recreational amenities. The area boasts a strong rental market with historically low vacancy rates, making this a prime asset with a compelling blend of stability and growth potential. Both two story buildings consist of all two-bed, one-bath unit with a shared courtyard space. There is a four-car garage behind each building. The Seller has RTI plans to build one (1) two bed-two bath 900 SF ADU on each parcel above the garages. The property is separately metered for gas and electricity, ensuring efficiency and control over utilities. 12314-12320 Washington Place is a prime investment opportunity with tons of upside. Both buildings will operate north of 6% caps once stabilized with ADUs. Steps away from major establishments including Erewhon, Culver Steps, Apple, Sony Picture Studios, Washington Place offers any investor or owner/user an exciting opportunity to own in one of Los Angeles’ desirable neighborhoods.

FOR SALE DETAILS

PRICE

$2,288,000 USD

PRICE/SF

$645 USD /SF

# OF UNITS

4

PRICE/UNIT

$572,000

CAP RATE

3.11%

% LEASED

75%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

12320 Washington Place

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,346 SF

ZONING

R4

APN/PARCEL ID

4232-006-020

ASK ABOUT THIS PROPERTY

Lorraine TanLyon Stahl Investment Real EstateMore Info
310-990-3417

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Lorraine TanLyon Stahl Investment Real EstateMore Info
310-990-3417

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.