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$ 3,196,000
Est. payment | /mo
16 Beds
8 Baths
7,038 SqFt
$ 3,196,000
Est. payment | /mo
16 Beds
8 Baths
7,038 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 7,038 sqft
Price per Sqft $454
MLS Listing ID 26868503
Bedrooms 16
HOA Y/N No
Year Built 1950
Lot Size 0.286 Acres
Property Description
Rare opportunity, Two adjacent fourplexes 12314 and 12320 Washington Pl on side-by-side parcels in Culver City, offered together as a single 8-unit investment. All eight units are 2BD/1BA. All units average $2,219 per month plus $1,400 per month of garage parking income versus projected market rents of $3,100. Both buildings received new roofs in 2025 plus a full exterior repaint, and 12320 delivers one vacant unit. 48% Rental Upside: At those rents, the offering produces a 7.05% pro forma cap rate before any ADU contribution. The seller will deliver approved plans for the two ADU units averaging 875 sqft each. The Assumable Debt Below Market: An existing Chase loan of approximately $1,200,000 at 3.91% may be assumed by a qualified buyer, well below prevailing rates. Balance, terms, and assumability to be verified with the lender. Two Parcels, One Offering: Each fourplex sits on its own legal parcel and can be financed, insured, and exited independently, which opens the offering to both the 1 to 4 unit residential financing market and the 5+ unit commercial pool. Capital Work Complete: Both buildings received new roofs in 2025 at $50,740 plus a full exterior repaint, $68,740 total per seller-signed 2025 operating statements. Priced Against the Anchor Sale: At $454 per square foot the offering prices directly against 12510 Washington Pl, same street two blocks away, which closed March 2026 at $459 per square foot.
Location
State CA
County Los Angeles
Area C28 - Culver City
Zoning CCR4YY
Interior
Fireplace No
Exterior
Parking Features None
Building
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4232006010
Special Listing Condition Standard
Listed by Filip Niculete Marcus & Millichap #01905352