11401 Washington PlLos Angeles, CA 90066

Property Details for 11401 Washington Pl

Year built

1954

Lot size

0.18 AC

Property size (Sq ft)

7,129 SF

Zone code

LAR3

Property type

Apartment buildings

APN

4214-007-004

APU

4214007004

Description

This 10-unit apartment building, located at 11401 Washington Pl in Los Angeles, CA 90066, presents a compelling value-add investment opportunity. Built in 1954, the two-story building encompasses 7,129 square feet on a 7,753 square foot lot and features a mix of seven one-bedroom, one-bathroom units and three two-bedroom, one-bathroom units. Units average 713 square feet and boast hardwood floors, ample closet space, and newer windows, contributing to good natural light. Kitchens include substantial cabinet space and separate dining areas. Seven parking spaces are available on-site, one per unit. The building also offers on-site laundry and individual gas and electric meters. The property is zoned LAR3-1. Situated in the desirable Mar Vista neighborhood, this complex benefits from a Walk Score and a Bike Score of 95, providing convenient access to numerous amenities, including restaurants, shops, and employment centers in Mar Vista and surrounding areas such as Venice Beach, Santa Monica, and Culver City. The property's location within the burgeoning Silicon Beach area ensures strong tenant demand and potential for rental growth. The asking price is $3,225,000, representing a price per unit of $322,500 and a price per square foot of $452.38. The Net Operating Income (NOI) is $132,760, resulting in a 4.12% capitalization rate. The building's high ceilings and ample parking present potential for future value-add improvements. This asset offers significant upside potential due to its location, unit mix, and the opportunity for further enhancements.

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0064

Longitude

-118.419

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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