Apartment Building with New
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11262 Venice Blvd., Culver City, CA 90230
Six-unit multifamily property with varied floor plans, updated construction, and separately metered gas and electric service.
Property Size4,500 SF
Price / SF$400
Days on Market169
Property Features for 11262 Venice Blvd.
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Multifamily
Occupancy
66%
Net Operating Income
$100,901
Additional Details
Utilities to Site
Yes
Amenities
laundry hookups
Building Details
Year Built
1954
Year Renovated
2025
Buildings
2
Stories
2
Units
6
Listing Agency:
Fred Leeds Asset Group
Listed By:
Chandler Rockwell · License #CA 01874204
Source:
Crexi
Added: Mar 17
Changed: Aug 30
Last Checked: Sep 1 at 6:20AM
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 Fred Leeds Asset Group
Investment Insights
Based on property information with market context.
This apartment property offers a six-unit configuration with a mix of 1 bed/1 bath, 2 bed/1 bath, and 2 bed/2 bath residences. Two units were built in 2025 and will be delivered vacant at closing, while four units are occupied. The original improvements date to 1954, and the property includes laundry hookups plus separate gas and electric metering.
The building is located on Venice Blvd. in Culver City, with LAX, Santa Monica, Venice, Marina del Rey, and Playa Vista within minutes. The property is non-rent controlled. Tenant access is by appointment only, and tenants should not be disturbed.
The building is located on Venice Blvd. in Culver City, with LAX, Santa Monica, Venice, Marina del Rey, and Playa Vista within minutes. The property is non-rent controlled. Tenant access is by appointment only, and tenants should not be disturbed.
Key Highlights
- Two units built in 2025 and delivered vacant at close
- Four occupied units in the existing apartment configuration
- Unit mix includes 1 bed/1 bath, 2 bed/1 bath, and 2 bed/2 bath layouts
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
$72,409
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
4.02%
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%
$1,448,180
$1.4M
Cap Rate 7%
$1,034,414
$1.0M
Cap Rate 9%
$804,544
$804.5K
Market Conditions
NOI Build-Up for 4,500 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
$143.1K $31.80/SF
− Vacancy
−$11.4K −$2.54/SF
EGI
$131.7K $29.26/SF
− OpEx
−$59.2K −$13.17/SF
NOI
$72.4K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
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%
$1,448,180
Cap Rate 7%
$1,034,414
Cap Rate 9%
$804,544
Alternative Uses
Best Use
Apartment 5plus
$1.03M
$905.1K – $1.21M
NOI $72,409 @ 7.0% cap · market cap 4.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.41M
$2.11M – $2.81M
NOI $168,650 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,434
Businesses Nearby
Explore this area
Business Placement
Demographics for 90230, CA
32,743
Population
14,198
Households
2.3
Avg Household Size
41
Median Age
58%
College-Educated
91%
High-School Grad
4.5 sq mi
ZIP Area
7,276
Density / Sq Mi
$106,827
Median Household Income
$76,041
Median Earnings
$2,423
Median Rent
$1,025,200
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?
Apartment building - Six-unit multifamily property with varied floor plans, updated construction, and separately metered gas and electric service.
Where is this apartment building located?
The property is located at 11262 Venice Blvd. Culver City, CA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Two units built in 2025 and delivered vacant at close; Four occupied units in the existing apartment configuration; Unit mix includes 1 bed/1 bath, 2 bed/1 bath, and 2 bed/2 bath layouts
