Probate Sale. Subject to Court confirmation and overbidding in Court. 8-Unit mixed-use property located in a trendy district of West LA. Easy access to shopping, dining options, entertainment, and I-405. Minutes from Downtown Culver City and Venice Beach. Excellent opportunity for a savvy investor to acquire a prime westside location with significant value-add potential. For sale AFTER 59 years! Unit mix 5 x 2 bed 1 bath and 1 x 1 bed 1 bath residential units, plus 2 commercial units. One large 2 bedroom units is vacant, and will be delivered vacant at COE. All units are separately metered for both gas and electricity. Mandatory Soft Story Retrofit has NOT been done and a Certificate of Substandard Building has been recorded by the City on the title on Feb. 05, 2019 . Seller is a Court appointed fiduciary and cannot make any representations as to the condition, history of the subject property. Sold AS IS & Where IS, with current tenant(s) in place. Seller will not be responsible for any repairs, inspection reports, termite work, and mandatory government retrofit requirements prior to close. Buyer to conduct their own investigations.
Property Highlights |
Street |
12121 Washington Pl
|
City |
Los Angeles
|
State |
CA
|
Zip |
90066
|
Status |
In Contract
|
Property Type |
Mixed Use
|
Asking Price |
1700000
|
Year Built |
1960
|
Building Sq Ft |
4,661
|
Number of units |
8
|
CAP Rate |
6.48
|
GRM |
10.74
|
Value per unit |
$212,500
|
Value per Square Feet |
$364.73
|
Broker Name |
Vinny Jain
|
Telephone |
(310) 207-2288
|
Email |
sales@ingeniousassetgroup.com
|
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