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$ 2,150,000
Est. payment | /mo
12 Beds
13 Baths
6,404 SqFt
$ 2,150,000
Est. payment | /mo
12 Beds
13 Baths
6,404 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 6,404 sqft
Price per Sqft $335
MLS Listing ID 26997097
Bedrooms 12
HOA Y/N No
Year Built 1962
Lot Size 6,995 Sqft
Lot Dimensions Assessor
Property Description
We are pleased to present 12535 Pacific Avenue, a nine-unit apartment building in Mar Vista. A qualified buyer may assume the existing Chase loan at 4.48%, fixed through 06/01/2029, subject to Chase's approval. Built in 1962, the two-story wood-frame building holds one single, four one-bedroom, one-bath units and four two bedroom, two-bath units in 6,404 square feet on a 6,992-square-foot R3-1 lot, with tuck-under parking. All nine units are registered under the Los Angeles Rent Stabilization Ordinance.The investment case is stabilized income with rent growth as long-term tenancies turn. Four units leased between November 2025 and September 2026 at $1,950 to $2,750 a month, and four tenancies in place since 2014 or earlier hold the building's rent upside. Major building work is already complete: the soft-story retrofit, dual-glazed windows and an earthquake gas shutoff valve.The offering suits 1031 exchange buyers and private investors looking for Westside rentalincome with fixed-rate financing in place, within a short drive of the Playa Vista, Culver City and Santa Monica job centers.The property sits in Mar Vista, one block south of the Venice Boulevard main street and its restaurants and coffee shops. Mitsuwa Marketplace and its food court are 0.26 miles away, the Sunday Mar Vista Farmers Market on Grand View Boulevard 0.33 miles, Vons 0.42 miles and the Mar Vista Branch Library 0.47 miles. Grand View Boulevard Elementary is 0.35 miles away. ZIMAS identifies the property as within half a mile of a High Quality Transit Corridor and a major transit stop. Playa Vista, home to many of Silicon Beach's technology employers, is 2.1 miles away, downtown Culver City 2.84 miles and downtown Santa Monica 3.61 miles, and LAX is 4.5 miles from the property. HUD's 2027 Small Area Fair Market Rents for ZIP 90066 are $2,980 for a one-bedroom and $3,680 for a two-bedroom unit. These ZIP-level voucher payment-standard benchmarks are not unrestricted market rents or a guarantee of achievable rent.
Location
State CA
County Los Angeles
Area C13 - Palms - Mar Vista
Zoning LAR3
Interior
Cooling None
Fireplace No
Exterior
Parking Features One Space
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4235012012
Special Listing Condition Standard
Listed by Filip Niculete Marcus & Millichap #01905352
Nearby School & Business
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