Quadplex with Vacant Owner
For Sale
$1,595,000
10958 Venice Blvd, Culver City, CA 90232
Four-unit property built in 1954, including a vacant 2BR+1BA owners unit and remodeled apartments.
Property Size2,871 SF
Lot Size0.11 Acres
Price / SF$555.56
Days on Market111
Property Features for 10958 Venice Blvd
General Information
Standard status
Active
Size
2,871 SF
Lot size
0.11 Acres
Property subtype
MULTI_FAMILY
Additional Details
Cap Rate
4.77%
Highway Access
Yes
Multifamily Units
4
Building Details
Building Size
2,871 SF
Year Built
1954
Tenancy
Multi
Listing Agency:
Miller & Desatnik Realty Co.
Listed By:
David Miller · License #02105346
(310) 939-9300
Source:
Rochellemaize
Added: May 21
Changed: Aug 27
Last Checked: Sep 7 at 8:52AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Miller & Desatnik Realty Co.
Investment Insights
Based on property information with market context.
10958 Venice Blvd is a 4-unit quadplex built in 1954. The property includes a 2-bedroom, 1-bath owners unit that is currently vacant, along with additional income units. Unit upgrades noted in the offering include remodeling across three of the four units and multiple building improvement items such as electrical and sewer improvements, exterior repainting, kitchen remodels, water heater replacements, and other building system work.
A major on-site feature is the existing rear garage and carport area, which offers potential for future ADU development (buyer to verify with the City of Los Angeles). The property is also described as having low-maintenance artificial turf landscaping.
The seller states approximately $145,030 in capital improvements have been completed. The offering also references current in-place operating performance of a 4.77% cap rate and 13.69 GRM. The property is positioned near the intersection of Venice Blvd and Sepulveda Blvd, with convenient access to Downtown Culver City, major Westside employment centers, shopping, dining, public transportation, and major freeway routes.
A major on-site feature is the existing rear garage and carport area, which offers potential for future ADU development (buyer to verify with the City of Los Angeles). The property is also described as having low-maintenance artificial turf landscaping.
The seller states approximately $145,030 in capital improvements have been completed. The offering also references current in-place operating performance of a 4.77% cap rate and 13.69 GRM. The property is positioned near the intersection of Venice Blvd and Sepulveda Blvd, with convenient access to Downtown Culver City, major Westside employment centers, shopping, dining, public transportation, and major freeway routes.
Key Highlights
- 4‑unit multifamily built in 1954 with 2,871 SF on a 4,975 SF lot
- 10964 is a 2BR + 1BA owners unit delivered vacant, allowing immediate owner occupancy or rental upside
- Unit 10960 participates in the Culver City Rental Assistance Program for stable supplemental rental income
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$50,138
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,002,760
$1.0M
Cap Rate 7%
$716,257
$716.3K
Cap Rate 9%
$557,089
$557.1K
Market Conditions
NOI Build-Up for 2,871 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$77.5K $27.00/SF
− Vacancy
−$5.9K −$2.05/SF
EGI
$71.6K $24.95/SF
− OpEx
−$21.5K −$7.48/SF
NOI
$50.1K $17.46/SF
Area
Los Angeles County, CA
Vacancy
7.60%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,002,760
Cap Rate 7%
$716,257
Cap Rate 9%
$557,089
Alternative Uses
Best Use
Multifamily LT 5
$716.3K
$626.7K – $835.6K
NOI $50,138 @ 7.0% cap · market cap 3.14%
Second Best
Apartment 5plus
$660.0K
$577.5K – $770.0K
NOI $46,197 @ 7.0% cap · market cap 2.90%
Theoretical Best
Office A
$1.54M
$1.34M – $1.79M
NOI $107,599 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,730
Businesses Nearby
Explore this area
Business Placement
Demographics for 90232, CA
16,452
Population
7,995
Households
2.1
Avg Household Size
38
Median Age
64%
College-Educated
91%
High-School Grad
2.2 sq mi
ZIP Area
7,478
Density / Sq Mi
$125,490
Median Household Income
$84,701
Median Earnings
$2,659
Median Rent
$1,491,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property built in 1954, including a vacant 2BR+1BA owners unit and remodeled apartments.
Where is this quadplex located?
The property is located at 10958 Venice Blvd Culver City, CA.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: 4‑unit multifamily built in 1954 with 2,871 SF on a 4,975 SF lot; 10964 is a 2BR + 1BA owners unit delivered vacant, allowing immediate owner occupancy or rental upside; Unit 10960 participates in the Culver City Rental Assistance Program for stable supplemental rental income
