12320 Washington PL, Culver City, CA 90066
12320 Washington PL, Culver City, CA 90066
12320 Washington PL, Culver City, CA 90066
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Ernie Caponera

Ernie Caponera

+1(714) 606-0926
$1,698,000
Est. payment /mo
8 Beds
4 Baths
3,550 SqFt
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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 3,550 sqft

Price per Sqft $478

MLS Listing ID 26845017

Bedrooms 8

HOA Y/N No

Year Built 1950

Lot Size 6,346 Sqft

Property Description

12320 Washington Pl | Vacant Unit / Owner-User Opportunity | 4-Unit Multifamily in Culver City. Built in 1950 on a 6,348 SF lot with 3,550 SF of improvements, this well-located Westside fourplex features an all 2-bed/1-bath unit mix averaging approximately 887 SF with 4 on-site parking spaces. Current rent roll: Unit A: 2+1 at $2,058/mo; Unit B: 2+1 vacant and modeled at $3,200/mo market rent; Unit C: 2+1 at $2,239/mo; Unit D: 2+1 at $2,120/mo. Total current residential scheduled rent is $9,617/mo, plus $1,400/mo in parking income, bringing total current scheduled income to $11,017/mo. Stabilized pro forma residential scheduled rent is projected at $12,800/mo, with total pro forma income including parking projected at approximately $13,858/mo. Offered at $1,698,000, the property is priced at $424,500/unit and $478/SF with a 6.02% current cap rate and 8.23% pro forma cap rate. Current NOI is projected at $102,192 with pro forma NOI projected at $139,746. The vacant unit provides an immediate owner-user or lease-up opportunity with no buyout required for that unit. The property also received a brand-new roof and complete exterior repaint in 2025. Also available as part of a paired acquisition with adjacent 12314 Washington Pl. Unified ownership may unlock approved ADU plans and additional long-term upside. Buyer to verify all rents, expenses, parking income, market rent assumptions, ADU approvals, zoning, and development potential.

Location

State CA

County Los Angeles

Area C28 - Culver City

Zoning RMD

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplace No

Exterior

Parking Features Driveway

Total Parking Spaces 4

Building

Story 2

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 4232006020

Special Listing Condition Standard

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Listed by Taylor Avakian Lyon Stahl Investment Real Estate, Inc. #02060040

Nearby Locations

Ernie Caponera

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(714) 606-0926

ernie@newport-properties.com

2747 E COAST HWY Unit 200, CORONA DEL MAR, California, 92625, USA

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