12314 Washington Pl, Culver City, CA 90066
- $1,498,000
- 8
- BD
- 4
- BA
- 3,488
- SqFt
- List Price
- $1,498,000
- MLS#
- 26844891
- Status
- ACTIVE
- Type
- Multifamily
- Bedrooms
- 8
- Bathrooms
- 4
- Living Area
- 3,488
Property Description
12314 Washington Pl is a well-located 4-unit multifamily property in Culver City featuring an all 2-bed/1-bath unit mix. Built in 1950, the property sits on a 6,130 SF lot with 3,488 SF of improvements and 4 on-site parking spaces. Each unit averages approximately 872 SF. Current rent roll: Unit A: 2+1 at $2,058/mo; Unit B: 2+1 at $2,058/mo; Unit C: 2+1 at $2,058/mo; Unit D: 2+1 at $2,058/mo. Total current scheduled rent is $8,232/mo, with all four units currently occupied. Market rent is projected at $3,200/mo per unit, creating approximately 55% rent-to-market upside and a pro forma scheduled rent of $12,800/mo. Offered at $1,498,000, the property is priced at $374,500/unit and $429/SF with a 4.53% current cap rate and 8.08% pro forma cap rate. Current NOI is projected at $67,845 with pro forma NOI projected at $121,017. The property also received a brand-new roof and complete exterior repaint in 2025. Also available as part of a paired acquisition with adjacent 12320 Washington Pl. Unified ownership may unlock approved ADU plans and additional long-term upside. Buyer to verify all rents, expenses, market rent assumptions, ADU approvals, zoning, and development potential.
Additional Information
- Year Built
- 1950
- Garage
- Driveway
Mortgage Calculator
Courtesy of Lyon Stahl Investment Real Estate, Inc., Taylor Avakian.
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