12314 Washington Pl is a well-located 4-unit multifamily property in Culver City featuring an all 2-bed/1-bath unit mix. Built in 1950, the property sits on a 6,130 SF lot with 3,488 SF of improvements and 4 on-site parking spaces. Each unit averages approximately 872 SF. Current rent roll: Unit A:… Read More 2+1 at $2,058/mo; Unit B: 2+1 at $2,058/mo; Unit C: 2+1 at $2,058/mo; Unit D: 2+1 at $2,058/mo. Total current scheduled rent is $8,232/mo, with all four units currently occupied. Market rent is projected at $3,200/mo per unit, creating approximately 55% rent-to-market upside and a pro forma scheduled rent of $12,800/mo. Offered at $1,498,000, the property is priced at $374,500/unit and $429/SF with a 4.53% current cap rate and 8.08% pro forma cap rate. Current NOI is projected at $67,845 with pro forma NOI projected at $121,017. The property also received a brand-new roof and complete exterior repaint in 2025. Also available as part of a paired acquisition with adjacent 12320 Washington Pl. Unified ownership may unlock approved ADU plans and additional long-term upside. Buyer to verify all rents, expenses, market rent assumptions, ADU approvals, zoning, and development potential. Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., Taylor Avakian 310-259-7556
Listing Snapshot
Days Online
8
Last Updated
Beds
8
Square Ft.
3,488
Lot Size
0.14 Acres
Year Built
1950
MLS Number
26844891
Additional Details
Building
Built in 1950, Living area: 3488.0, 1 building, 2 stories, Levels: MultiSplit
Cooling
WallWindowUnits
Heating
WallFurnace
Income
Gross Income: $98,784, Net Operating Income: $67,845
Lot
0.1407 acres
Parking
4 total parking spaces, Driveway
Taxes
Parcel Number: 4232006010, Zoning: CCR4YY
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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.
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