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Prime mixed-use investment opportunity in West LA with immediate value-add potential. The property features 6 residential (1 bed/1 bath) units, two retail spaces, 7 small offices, and two one-car garages (ADU conversion) all on a generous 8,200 square foot C2 Zoned lot. The ground floor features nine commercial spaces, including two retail storefronts and seven small offices, all leased month-to-month at below-market rents, offering an immediate 52% upside in commercial leases, bringing the cap rate to 7.9%. Above, six residential units (all 1-bed/1-bath) present an additional 53% rental upside. Two 1-car garages at the rear offer ADU conversion potential. Located on the same block as the Mar Vista Farmers Market, in a highly walkable, food-centric neighborhood, this A+ investment boasts a projected 9% cap rate post value-add enhancements. The 8,200 sq. ft. lot allows for the development of approximately 30 units, with the option to purchase the neighboring 12034 Venice Blvd for a combined 74-unit development site.
Property Type(s):
Residential Income
| Last Updated | 2/24/2025 | Year Built | 1960 |
|---|---|---|---|
| Community | Palms - Mar Vista | County | Los Angeles |
Additional Details
| AREA | Palms - Mar Vista |
|---|---|
| GARAGE | One Space, Side by Side, Uncovered |
| LOT | 8248 sq ft |
| LOT DIMENSIONS | 50x164 |
| PARKING | One Space,Side By Side,Uncovered |
| STORIES | 2 |
| ZONING | LAC2 |
Location
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Listed with Maher Commercial Realty
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