VACANT 2 BR + 1 BA OWNERS UNIT!!!! 10958 Venice Blvd presents a rare opportunity to acquire a well-maintained 4-unit multifamily property located in a prime West Los Angeles / Culver City location with tremendous future upside through ADU development potential. Built in 1954, the property consists of 2,871… Read More square feet situated on a 4,975 square foot lot and is offered at $1,700,000, equating to $425,000 per unit and $592 per square foot. The property currently operates at an attractive 4.77% cap rate with a 13.69 GRM, providing stable in-place income while offering substantial value-add potential for a new owner.The property is ideal for both investors and owner-users, featuring unit 10964, a 2-bedroom + 1-bath unit, delivered vacant. This provides an excellent opportunity for an owner-user to immediately occupy the unit while benefiting from rental income from the remaining units, or for an investor to capture additional rental upside in a highly desirable Westside rental market. Additionally, unit 10960 is part of the Culver City Rental Assistance Program, providing stable supplemental rental income.A major highlight of the property is the existing rear garage and carport area, which presents a tremendous opportunity for future ADU development. A new owner may have the ability to add additional rental units (buyer to verify with the City of Los Angeles), creating meaningful long-term income growth and increased property value. With California's continued support for ADU expansion and the strong demand for rental housing throughout the Westside, this represents an exceptional investment opportunity rarely found in such a premier location.Ownership has completed approximately $145,030 in capital improvements over the years, demonstrating a strong commitment to maintaining and upgrading the asset. Notably, 3 of the 4 units have been remodeled, helping minimize deferred maintenance concerns while enhancing tenant appeal and long-term investment stability. Improvements include extensive unit remodels, balcony improvements, electrical upgrades, sewer improvements, exterior repainting, kitchen remodeling, multiple water heater replacements, artificial turf installation, and additional building system upgrades.Ownership also installed low-maintenance artificial turf landscaping, significantly reducing operating expenses by eliminating the need for ongoing gardening service while maintaining attractive curb appeal.Ideally situated near the intersection of Venice Blvd and Sepulveda Blvd, the property offers convenient access to Downtown Culver City, Sony Studios, Venice Beach, Santa Monica, Marina del Rey, Century City, and major employment hubs throughout Los Angeles' Westside. Residents enjoy close proximity to shopping, dining, public transportation, and major freeway access, making the property highly attractive to tenants seeking a central Westside location.10958 Venice Blvd is an ideal opportunity for an owner-user or investor seeking stable cash flow today with exceptional long-term upside through ADU expansion and continued rental growth in one of Southern California's strongest multifamily submarkets. Read Less
Property listed by Miller & Desatnik Realty Co., David Miller 310-259-7556
Listing Snapshot
Days Online
123
Last Updated
Beds
6
3/4 Baths
4
Square Ft.
2,871
Lot Size
0.11 Acres
Year Built
1954
MLS Number
26837219
Additional Details
Appliances & Equipment
Refrigerator
Building
Built in 1954, Living area: 2871.0, 1 building, 2 stories, Levels: Two
Heating
WallFurnace
Income
Gross Income: $124,212, Net Operating Income: $81,169
Lot
0.1142 acres
Parking
Carport, DoorMulti, Garage
Taxes
Parcel Number: 4213001002, Zoning: CCR4*
Find The Perfect Home
'VIP' Listing Search
Join our email list to have access to the best off market listings in Los Angeles.
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Confirm your time
Fill in your details and we will contact you to confirm a time.
Michael Harby
or message me directly
Find My Dream Home
Put an experts eye on your home search! You’ll receive personalized matches of results delivered direct to you.
Import This Listing
Import Completed
To view your listing, click one of the options below.
