4302 Overland Ave Culver City, CA 90230-4117

Property Details for 4302 Overland Ave

Year built

1941

Construction

WOOD

Lot size

0.18 lot acres

Property size

5,682 SF

Zone code

CCC2*

Property type

Investment properties

Property subtype

Retail residential properties

APN

4209-025-001

APU

4209025001

Description

This 6,569 square foot, single-story office building in Culver City, CA, presents a unique owner-user opportunity. Located just one block from Sony Pictures Studios and within walking distance of Downtown Culver City, Equinox, and Apple's One Culver offices, this property boasts high visibility due to its signalized corner location. Currently vacant, the building is comprised of four suites, three previously used for retail and one office suite with a permitted 1,145 square foot mezzanine. The flexible layout allows for reconfiguration into larger suites or a single, expansive space. The property includes on-site parking for up to eight vehicles (tandem parking), with potential for additional parking. Built in 1941, the building sits on a 7,665 square foot lot and is zoned C2. A recent Phase II Environmental Site Assessment (ESA) revealed environmental impacts from a previous dry-cleaning tenant. The seller has a remediation proposal, recommending a soil vapor extraction system. The property will be delivered "as-is" and is priced at $2,950,000 ($449.08/sq ft), reflecting the environmental considerations. A pro-forma cap rate of 8.02% and a pro-forma NOI of $236,484 are projected. The seller is offering attractive seller financing options to qualified buyers, as conventional financing may be limited until environmental remediation is complete. Occupancy is available June 1, 2024. The APN is 4209-025-001.