19
See all 19 photos
$1,698,000
Est. payment /mo
8 Beds
4 Baths
3,550 SqFt
New
12320 Washington PL Culver City, CA 90066
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 3,550 sqft
Price per Sqft $478
MLS Listing ID 26845017
Bedrooms 8
HOA Y/N No
Year Built 1950
Lot Size 6,346 Sqft
Property Description
12320 Washington Pl | Vacant Unit / Owner-User Opportunity | 4-Unit Multifamily in Culver City. Built in 1950 on a 6,348 SF lot with 3,550 SF of improvements, this well-located Westside fourplex features an all 2-bed/1-bath unit mix averaging approximately 887 SF with 4 on-site parking spaces. Current rent roll: Unit A: 2+1 at $2,058/mo; Unit B: 2+1 vacant and modeled at $3,200/mo market rent; Unit C: 2+1 at $2,239/mo; Unit D: 2+1 at $2,120/mo. Total current residential scheduled rent is $9,617/mo, plus $1,400/mo in parking income, bringing total current scheduled income to $11,017/mo. Stabilized pro forma residential scheduled rent is projected at $12,800/mo, with total pro forma income including parking projected at approximately $14,242/mo.Offered at $1,698,000, the property is priced at $424,500/unit and $478/SF with a 5.48% current cap rate and 7.60% pro forma cap rate. Current NOI is projected at $93,101 with pro forma NOI projected at $129,127. The vacant unit provides an immediate owner-user or lease-up opportunity with no buyout required for that unit. The property also received a brand-new roof and complete exterior repaint in 2025.Also available as part of a paired acquisition with adjacent 12314 Washington Pl. Unified ownership may unlock approved ADU plans and additional long-term upside. Buyer to verify all rents, expenses, parking income, market rent assumptions, ADU approvals, zoning, and development potential.
Location
State CA
County Los Angeles
Area C28 - Culver City
Zoning RMD
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features Driveway
Total Parking Spaces 4
Building
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 4232006020
Special Listing Condition Standard
Listed by Taylor Avakian Lyon Stahl Investment Real Estate, Inc. #02060040
NEARBY SCHOOL & BUSINESS
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