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$ 1,498,000
Est. payment | /mo
8 Beds
4 Baths
3,488 SqFt
$ 1,498,000
Est. payment | /mo
8 Beds
4 Baths
3,488 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 3,488 sqft
Price per Sqft $429
MLS Listing ID 26844891
Bedrooms 8
HOA Y/N No
Year Built 1950
Lot Size 6,128 Sqft
Property Description
12314 Washington Pl is a well-located 4-unit multifamily property in Culver City featuring an all 2-bed/1-bath unit mix. Built in 1950, the property sits on a 6,130 SF lot with 3,488 SF of improvements and 4 on-site parking spaces. Each unit averages approximately 872 SF.Current rent roll: Unit A: 2+1 at $2,058/mo; Unit B: 2+1 at $2,058/mo; Unit C: 2+1 at $2,058/mo; Unit D: 2+1 at $2,058/mo. Total current scheduled rent is $8,232/mo, with all four units currently occupied. Market rent is projected at $3,200/mo per unit, creating approximately 55% rent-to-market upside and a pro forma scheduled rent of $12,800/mo. Offered at $1,498,000, the property is priced at $374,500/unit and $429/SF with a 4.23% current cap rate and 7.63% pro forma cap rate. Current NOI is projected at $63,344 with pro forma NOI projected at $114,323. The property also received a brand-new roof and complete exterior repaint in 2025. Also available as part of a paired acquisition with adjacent 12320 Washington Pl. Unified ownership may unlock approved ADU plans and additional long-term upside. Buyer to verify all rents, expenses, market rent assumptions, ADU approvals, zoning, and development potential.
Location
State CA
County Los Angeles
Area C28 - Culver City
Zoning CCR4YY
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features Driveway
Total Parking Spaces 4
Building
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 4232006010
Special Listing Condition Standard
Listed by Taylor Avakian Lyon Stahl Investment Real Estate, Inc. #02060040
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