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$1,700,000
Est. payment /mo
6 Beds
4 Baths
2,871 SqFt
Open House
Sat May 23, 1:00pm - 1:30pm
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 2,871 sqft
Price per Sqft $592
MLS Listing ID 26837219
Bedrooms 6
HOA Y/N No
Year Built 1954
Lot Size 4,974 Sqft
Property Description
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 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.
Location
State CA
County Los Angeles
Area C28 - Culver City
Zoning CCR4*
Interior
Heating Wall Furnace
Fireplace No
Appliance Refrigerator
Exterior
Parking Features Carport, Door-Multi, Garage
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4213001002
Special Listing Condition Standard
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Listed by David Miller Miller & Desatnik Realty Co. #02105346
Nearby Locations
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