12044 W Washington Blvd - Office/Residential FOR SALE


Los Angeles, CA 90066- Culver-West
$2,900,000 USD
310-251-2593
12044 W Washington Blvd, Los Angeles, CA for Sale
$2,900,000 USD
Office/Residential - FOR SALE
1/10
null | Request Cap Rate

12044 W Washington Blvd
Los Angeles, CA 90066
Culver-West


HIGHLIGHTS

  • Gated on site parking.
  • Originally built a a 6 unit apartment building, can be converted back.

OVERVIEW

GREAT DEVELOPMENT OPPORTUNITY! Currently a 4-unit vacant office building with proposed plans to return it to its original configuration as 6 apartments. Those plans include 6 two bedroom apartments with gated on-site parking including 6 carports & additional uncovered parking. Ideally located directly across from a Kaiser medical facility, west of the 405 freeway, and close to Marina del Rey. Over $320,000 in improvements were made in 2007 upgrading electrical, plumbing, mechanical, and other infrastructure throughout the property, converting the property into four postproduction offices for the entertainment industry. Technology advancements have since reduced demand for that usage. Those improvements can significantly offset the cost of restoring the property to 6 residential units. In the attached supplements is a list of expenditures for the upgrades performed. A first floor entry ramp provides easy access – great for occupants with mobility limitations. An attractive & spacious landscaped patio provides a comfortable outdoors recreational area. There are 6 Ring security cameras around the property, 2 storage rooms and 6 lockers. The sale includes 2 parcels: APN 4032017004 & 4032017003 (where the approx. 700 sq. ft. carports are located), totaling approx. 8301 sq. ft. of land. Attached photo of carports (with garage doors) is virtual and not its current configuration. Buyer is to verify any proposed development opportunities with the city.

FOR SALE DETAILS

PRICE

$2,900,000 USD

PRICE/SF

$532 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1953

SPRINKLERS

-

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,276 SF

ZONING

C3

APN/PARCEL ID

4232-017-002,4232-017-003,4232-017-004

ASK ABOUT THIS PROPERTY

Don KaraseviczEstate PropertiesMore Info
310-251-2593

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Don KaraseviczEstate PropertiesMore Info
310-251-2593

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