Live-Work Building with
For Sale
$3,550,000
323 Culver BLVD, Playa del Rey, CA 90293
Two-building setup with separately metered units, including two ground-floor storefronts and two residential apartments above.
Property Size4,451 SF
Price / SF$797.57
Days on Market163
Property Features for 323 Culver BLVD
General Information
Standard status
Active
Size
4,451 SF
Property subtype
MULTI_FAMILY
Zoning
LAC4
Additional Details
Multifamily Units
2
Building Details
Building Size
4,451 SF
Year Built
2021
Listing Agency:
eXp Realty of California Inc
Listed By:
Brett Zebrowski · License #01313739
(310) 678-7158
Source:
Adambrawerestates
Added: May 9
Changed: Oct 13
Last Checked: Oct 16 at 3:23PM
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 eXp Realty of California Inc
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Investment Insights
Based on property information with market context.
This live-work property includes two buildings with a total of six separately metered units following a recent complete overhaul. The front building is one level and features two ground-floor commercial storefronts. The rear building is two levels, with two ground-floor commercial units, each including a full bath and full kitchen, as well as outdoor patios. The second level of the rear building has two residential apartments, and units in the rear building overlook the Ballona Wetlands.
Zoned LAC4, the property supports redevelopment and continued use under applicable zoning guidelines. Located in Playa del Rey next to Silicon Beach, it is described as steps from restaurants, cafes, shops, and the beach, with the sand noted as three blocks away.
The configuration offers multiple income streams through the storefront and commercial units, paired with residential apartments in the rear building.
Zoned LAC4, the property supports redevelopment and continued use under applicable zoning guidelines. Located in Playa del Rey next to Silicon Beach, it is described as steps from restaurants, cafes, shops, and the beach, with the sand noted as three blocks away.
The configuration offers multiple income streams through the storefront and commercial units, paired with residential apartments in the rear building.
Key Highlights
- Year built 2021 two‑building property with 6 total units, all separately metered
- Front building features 2 ground‑floor commercial storefronts
- Rear building includes 2 ground‑floor commercial units with full bath and full kitchen, plus outdoor patios
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$105,650
Cap Rate
2.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,113,000
$2.1M
Cap Rate 7%
$1,509,286
$1.5M
Cap Rate 9%
$1,173,889
$1.2M
Market Conditions
NOI Build-Up for 4,451 SF
Gross rent
$173.1K $38.88/SF
− Vacancy
−$32.2K −$7.23/SF
EGI
$140.9K $31.65/SF
− OpEx
−$35.2K −$7.91/SF
NOI
$105.7K $23.74/SF
Area
Los Angeles, CA
Vacancy
18.60%
Lease Rate
$38.88 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,113,000
Cap Rate 7%
$1,509,286
Cap Rate 9%
$1,173,889
Alternative Uses
Best Use
Apartment 5plus
$78.69M
$68.85M – $91.81M
NOI $5,508,353 @ 7.0% cap · market cap 155.16%
Second Best
Office B
$1.51M
$1.32M – $1.76M
NOI $105,650 @ 7.0% cap · market cap 2.98%
Theoretical Best
Multifamily LT 5
$90.17M
$78.90M – $105.20M
NOI $6,312,221 @ 7.0% cap · market cap 177.81%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
873
Businesses Nearby
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Business Placement
Demographics for 90293, CA
12,633
Population
7,050
Households
1.8
Avg Household Size
41
Median Age
72%
College-Educated
99%
High-School Grad
2.7 sq mi
ZIP Area
4,679
Density / Sq Mi
$130,699
Median Household Income
$83,438
Median Earnings
$2,734
Median Rent
$971,800
Median Home Value
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Two-building setup with separately metered units, including two ground-floor storefronts and two residential apartments above.
Where is this apartment building located?
The property is located at 323 Culver BLVD Playa del Rey, CA.
What is the asking price?
The asking price for this property is $3,550,000.
What are key features of this property?
This property features: Year built 2021 two‑building property with 6 total units, all separately metered; Front building features 2 ground‑floor commercial storefronts; Rear building includes 2 ground‑floor commercial units with full bath and full kitchen, plus outdoor patios
