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Leslie Carretti

lesliecarretti@gmail.com +1(949) 254-4663

$1,500,000

Est. payment - /mo

7,501 Sqft Lot

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Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID SR26233711

HOA Y/N No

Year Built 1963

Lot Size 7,501 Sqft

Property Sub-Type Apartment

Property Description

Prime Mar Vista Value-Add Opportunity: 7-Unit Multifamily with 45% Rent Upside!

A highly attractive seven-unit multifamily asset in the heart of Mar Vista, located just one block south of the vibrant Venice Boulevard retail corridor. Built in 1963, this two-story, wood-frame property features a distinctive arcaded street-facing elevation and spans 6,950 SF on a 7,501 SF lot.

The property boasts an exceptional, family-friendly unit mix comprising five spacious 2-bedroom/2-bathroom units (approx. 900 SF) and two large 3-bedroom/2-bathroom units (approx. 1,100 SF). It also provides seven on-site parking spaces to serve the seven units.

Investment Highlights:

Massive Value-Add Potential: In-place rents currently range from $1,643 to $2,146 per month. With nearby renovated two-bedroom comps asking $2,300 to $3,395 (including a nearly identical 1963-vintage property just a half-mile away leasing at $2,799), the asset offers an estimated 44.9% rent upside.

Ultimate Lease Flexibility: All seven units are on month-to-month leases with no fixed terms to wait out, allowing new ownership immediate flexibility to execute a near-term rent capture strategy.

Stable, Proven Cash Flow: The property is 100% occupied with zero delinquency across all units as of August 2026. Four of the seven tenancies are long-term, dating back to 2005 or earlier.

Low Initial CapEx: The investment case centers on immediate rent capture rather than heavy foundational capital requirements.

Subject to the City of Los Angeles Rent Stabilization Ordinance (RSO), this property is perfectly positioned for 1031 exchange buyers, family offices, and value-add operators seeking highly stable, upside-rich exposure in a premier Westside market.

Location

State CA

County Los Angeles

Area C13 - Palms - Mar Vista

Zoning LAR3

Interior

Fireplace No

Laundry Common Area

Exterior

Pool None

Community Features Sidewalks

Total Parking Spaces 7

Private Pool No

Building

Lot Description 6-10 Units/Acre

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 4235023025

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange, Submit

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange, Submit

Special Listing Condition Standard

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Listed by Trea Erdmann Dwelo Agency 408-391-9208, DRE #02182388

NEARBY SCHOOL & BUSINESS

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12231 Pacific AVE Los Angeles, CA 90066