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… Read More 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 3032 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. Read Less
Courtesy of Maher Commercial Realty 310-464-1453
Listing Snapshot
Days Online
566
Last Updated
Property Type
Other
Beds
6
Square Ft.
6,194
Lot Size
0.19 Acres
Year Built
1960
MLS Number
24-354063
30 Days Snapshot Of 90066
$2.39M
-7%
(avg) sold price
23
-34%
homes sold
45
-21%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
6,194 sq ft, Built in 1960, Levels: Two, Attached
Disclosures
LA/Owner Related
Garage
Detached, Garage Is Detached, Parking Space, Side By Side, Uncovered
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