12400 Mitchell Ave - Apartments FOR SALE


Los Angeles, CA 90066- Mar Vista
$1,795,000 USD
310-382-6705
12400 Mitchell Ave, Los Angeles, CA for Sale
$1,795,000 USD
Apartments - FOR SALE
1/14
null | 5% Cap Rate

12400 Mitchell Ave
Los Angeles, CA 90066
Mar Vista


HIGHLIGHTS

  • Well-located 7-unit multifamily investment in the heart of Mar Vista
  • Approximately 40% upside in rents from current to market
  • Diverse unit mix of one and two-bedroom units
  • Delivered with one (1) VACANT one-bedroom unit ready for immediate rental or additional renovation
  • Seismic Retrofit completed in 2017

OVERVIEW

Presenting 12400 Mitchell Avenue, a well-located 7-unit multifamily investment in the heart of Mar Vista. This prime Westside multifamily asset is positioned at the intersection of Mitchell Avenue and Centinela Avenue, offering excellent visibility in a transit-oriented location. With an attractive and diverse unit mix of three (3) two-bedrooms and four (4) 1-bedrooms, the property is currently achieving solid rents averaging approximately $1,805 per month, with an estimated 40% rental upside from current to market. Delivered with a vacant 1-bedroom in leasable condition (projected at $2,300/month), new ownership may immediately implement a value-add strategy to capture additional income. The building has already completed the required Los Angeles Seismic Retrofit. Ideally situated in one of LA’s most desirable Westside rental submarkets, the property benefits from strong renter demand, walkability to popular dining and retail along Venice Boulevard, and close proximity to major employment hubs in Culver City, Venice, Santa Monica, West LA and Playa Vista.

FOR SALE DETAILS

PRICE

$1,795,000 USD

PRICE/SF

$356 USD /SF

# OF UNITS

7

PRICE/UNIT

$256,429

CAP RATE

5%

% LEASED

85%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7 Units Well-Located in Mar Vista

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1957

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,966 SF

ZONING

CR-1

APN/PARCEL ID

4235-018-001

ASK ABOUT THIS PROPERTY

Everett WongGreysteelMore Info
310-382-6705

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Everett WongGreysteelMore Info
310-382-6705

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