12028-12032 Venice Blvd - Apartments FOR SALE


Los Angeles, CA 90066- Mar Vista
$2,695,000 USD
415-378-5464
12028-12032 Venice Blvd, Los Angeles, CA for Sale
$2,695,000 USD
Apartments - FOR SALE
1/9
null | 5.82% Cap Rate

12028-12032 Venice Blvd
Los Angeles, CA 90066
Mar Vista


HIGHLIGHTS

  • On the same block as the Mar Vista Farmers Market, minutes from Venice Beach, Abbot Kinney, and Marina del Rey.
  • Front building with 2 retail stores, 7 office suites, and 4 residential units above; rear building with 2 residential units.
  • Two one-car garages with opportunity to convert into ADUs.
  • 8,200 SF C2 TOC Tier 2 parcel allows 30–32 units; combined with neighboring site (12034 Venice Blvd) offers ±74-unit development potential.
  • All tenants month-to-month, providing repositioning opportunities.
  • In-place cap rate of 5.8% with potential to reach 10% upon leasing vacant units, offering ±72% total rent upside.

OVERVIEW

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 30–32 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.

FOR SALE DETAILS

PRICE

$2,695,000 USD

PRICE/SF

$435 USD /SF

# OF UNITS

8

PRICE/UNIT

$336,875

CAP RATE

5.82%

% LEASED

83%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

17

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,282 SF

ZONING

LAC2

APN/PARCEL ID

4235-024-005

ASK ABOUT THIS PROPERTY

Oron MaherMaher Commercial RealtyMore Info
415-378-5464

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Oron MaherMaher Commercial RealtyMore Info
415-378-5464

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