12028 VENICE BOULEVARD, LOS ANGELES CA 90066
- 6,194 sq.ft.
- 8,248 sq.ft. lot
Property Description
Prime Mar Vista mixed-use investment opportunity featuring six residential units, two retail storefronts, seven small one-room commercial offices, and two one-car garages, all situated on an 8,200 sq. ft. C2 TOC Tier 2 zoned parcel. The property currently has one vacant residential unit and two vacant office suites, while the remaining tenants are all month-to-month. The front building includes two retail stores, seven small offices, and four residential units above, while the rear building offers two additional residential units. Two one-car garages between the buildings present excellent ADU conversion potential. With an in-place cap rate of 5.8% (once three vacancies are filled); and a pro forma cap rate of 10% once building is stabilized, this is the best value in Mar Vista. The zoning allows development of 30-32 units on-site. Located on the same block as the Mar Vista Farmers Market and surrounded by popular eateries, coffee shops, and boutique retailers, the property offers unmatched neighborhood appeal, with Venice Beach, Abbot Kinney, and Marina del Rey just minutes away.
Listing Courtesy of Oron Maher, Maher Commercial Realty
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