12006 Hammack St, Culver City, CA 90230

12006 Hammack St, Culver City, CA 90230

Culver City, CA
$1,950,000

Property Description

INVESTMENT HIGHLIGHTS

  • Value-Add Opportunity located in Prime Culver City with over 100% upside in rental income
  • Once stabilized, the property will operate at a 10.21% CAP and 7.69 GRM
  • Two separate buildings on a large 7,398 SF Lot
  • Strong unit mix of (7) 2Bed+1Bath Units; 1 Unit is currently Vacant
  • 8 Parking Spots on site
  • Located in an A+ rental market

EXECUTIVE SUMMARY

12006-12012 Hammack St, Culver City is a trophy asset, in an A+ location, with over 100% upside in rental income! Once units are rented for market, the property will operate at a 10.21% CAP and 7.69 GRM. This is the perfect opportunity for any investor looking for strong upside in one of the nicest neighborhoods on the Westside of Los Angeles. The property is comprised of two separate buildings, a fourplex and triplex, on one lot. The unit mix is comprised of (7) spacious 2Bed+1Bath units, with (1) unit being currently vacant. There are 8 parking spots on site, with plenty of street parking. The subject property is located just minutes from Downtown Culver City and Playa Vista, making it any renters ideal location to live. Many large tech companies have made home in local neighborhoods including Apple, HBO, Google, Sony, and Facebook.

Property Features

  • Sale Price: $1,950,000
  • Area Size: 5,946 Sq. Ft.
  • Land Area: 7,398 Sq. Ft.
  • Year Built: 1959
  • Listing Date: 3/27/2023
  • Closing Date: 9/5/2023
  • Units: 7
  • Current GRM: 15.53
  • Current Cap Rate: 3.85%
  • Price Per Unit: $300,000
  • Market GRM: 7.69
  • Market Cap Rate: 10.42%
  • Current NOI: $80,929

Lyon Stahl Investment Real Estate

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