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12001 Sylvester presents a prime real estate opportunity in the heart of Mar Vista, located at the corner of Sylvester Street and Inglewood Blvd. This well-positioned property sits at the entrance of a serene cul-de-sac and comprises a triplex featuring two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit. The 1-bedroom unit offers immediate potential for occupancy as it may be delivered vacant. Each unit is complemented by private outdoor spaces, including patios for the ground-floor units and a balcony for the second-story unit. The property also includes separate one-car garages, with additional parking available in front of each garage. Value-Add Opportunities: Rental Upside: With one unit potentially vacant, rent can be adjusted to market rate. The remaining two units are currently rented at approximately 50% below market, and the ability to add an ADU unit, presents a strong income growth opportunity. Owner-Occupancy Potential: Ideal for buyers looking to occupy one unit while benefiting from rental income from the others. Development Possibilities: Zoned LARD3, the property offers multiple paths for redevelopment. For those looking to expand further, the two adjacent triplexes (12007 and 12013 Sylvester) are also available for sale for $266/SF, enabling a combined 16,500-square-foot lot development. By right, this assemblage could yield 20 units, or up to 28 units with bonus density (buyer to verify with the City of Los Angeles).Conveniently located near Culver City, this property offers easy access to dining and entertainment on Washington Blvd and the vibrant Mar Vista Farmers Market on Grandview. Don't miss the chance to invest in one of West LA's most desirable neighborhoods.
Property Type(s):
Residential Income
| Last Updated | 11/21/2024 | Year Built | 1954 |
|---|---|---|---|
| Community | Palms - Mar Vista | Garage Spaces | 3.0 |
| County | Los Angeles |
Additional Details
| AIR | None |
|---|---|
| AREA | Palms - Mar Vista |
| GARAGE | Door-Multi, Garage, Yes |
| HEAT | Wall Furnace |
| LOT | 5278 sq ft |
| PARKING | Door-Multi,Garage |
| STORIES | 2 |
| ZONING | LAR3 |
Location
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Listed with Compass
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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