Just Listed – Trophy 13-Unit Apartment in Mar Vista
Brett Lyon and Woody Stahl of Lyon | Stahl are pleased to present 12240 Pacific Ave, a 13-unit apartment in Los Angeles!
This property is listed for $6,899,000
This trophy 13-unit apartment building is located in the highly desirable Mar Vista submarket. The luxurious 6,532 SF building is situated on a 7,500 SF lot and has been completely remodeled with top-of-the-line upgrades. This property features a unit mix of (9) 1-bed/1-bath units and (4) studio apartments, currently stabilizing at a 3.81% CAP rate.* The entire property has undergone the following renovations: in-unit Washer/Dryers, Wood Plant Waterproof Flooring, New SS Kitchen Appliances, New Quartz Kitchen Countertops with New ‘Soft-Close’ Cabinets Subway Tile Backsplashes, SS Farmhouse Sinks, Completely Renovated Bathrooms with Full Slab Quartz Tub Surrounds, All New LED Interior Lighting, Instant Hot Water, High Speed Internet, and USB Fast Charging Electrical Outlets throughout the units.
The property is in one of Los Angeles’ Westsides hottest submarkets, just a short distance from Venice, Culver City, Santa Monica, and the prime retail corridors on Rose Avenue and Abbot Kinney Boulevard. This is a perfect opportunity for a yield-focused investor looking to purchase a turn-key asset in one of the most desirable rental markets in Southern California.
- Unit Mix: (9) 1-Bed/1-Bath Units, (4) Studio Apartments
- New Main Circuit Breakers with 400 Amp Increased Service
- 6,532 SF Two-Story Building on a Large 7,500 SF Lot Fully Renovated Exterior: New Stucco, Paint, Stained Wood Exterior Siding, Landscaping, Lighting, and Surveillance System
- Fully Renovated Units: New Washer/Dryers, Flooring, Kitchen Appliances, Countertops, Cabinets, Bathrooms, and Interior Lighting
- Incredible Location: Within short distance of Venice, Culver City, Santa Monica, and prime retail stores on Rose Avenue and Abbot Kinney Boulevard