12518 VENICE, Los Angeles CA

VALUE ADD DEAL. MOTIVATED SELLER! Please contact broker for a full marketing package. Prime Mar Vista location 11-unit multi-family property consisting of 3 buildings on a large double lot of over 14,000 S.F. zoned LAR-3 suitable to develop luxury condominiums. The Property features an excellent mix of 8-two bedroom one bath + dining area, 2-one bedroom one bath units and 1-three bedroom two bath unit. The property is separately metered for gas and electricity minimizing the owner's expenses. The property also features a laundry room for the convenience of the residents and additional monthly income. Property is not on the list of soft-story retrofit program (Buyer to confirm). Huge upside of approximately 44% in rents! Priced at $377,272/unit, 18 x current low rents and 3.3% CAP. Priced at 12.5 x market rents and 5.6% CAP.