Active
12028 Venice Blvd
Los Angeles CA, 90066
$2,695,000
$435.10 per sqft
Active
6 Beds
6 Baths
6,194 sqft
Multi-family
Built in 1960
Prime mixed-use investment opportunity in West LA with immediate value-add potential. The property features 6 residential (1 bed/1 bath) units, two retail spaces, 7 small offices, and two one-car garages (ADU conversion) all on a generous 8,200 square foot C2 Zoned lot. The ground floor features nine commercial spaces, including two retail storefronts and seven small offices, all leased month-to-month at below-market rents, offering an immediate 52% upside in commercial leases, bringing the cap rate to 7.9%. Above, six residential units (all 1-bed/1-bath) present an additional 53% rental upside. Two 1-car garages at the rear offer ADU conversion potential. Located on the same block as the Mar Vista Farmers Market, in a highly walkable, food-centric neighborhood, this A+ investment boasts a projected 9% cap rate post value-add enhancements. The 8,200 sq. ft. lot allows for the development of approximately 30 units, with the option to purchase the neighboring 12034 Venice Blvd for a combined 74-unit development site.
24-354063
MLSⓇ ID
February 2, 2024
Listed
February 25, 2025
Updated
Interior Features
Total Stories
2
Bedrooms
6
Total Bathrooms
6
Appliances
Other
Fireplace
No
Cooling
Yes
Cooling Description
Other
Heating
Yes
Heating Description
Other
Exterior/Building Features
Lot Size
0.19 Acres
Lot Features
Alley Paved
Other Property Details
Area Name
Palms - Mar Vista
Days on Market
380
Garage
Yes
Parking
Detached, Garage Is Detached, Parking Space, Side By Side, Uncovered
Parking Total
17
View
No
County
Los Angeles
Zoning
LAC2
Listing History
Date | Event | Price |
---|---|---|
2/14/2025 | Price change | $2,695,000 -7% |
1/8/2025 | Price change | $2,895,000 -4% |
7/29/2024 | Price change | $2,995,000 -10% |
Listed by Oron Maher with Maher Commercial Realty
Listing Contact: 310-464-1453
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Robert Edie shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2025 Combined L.A./Westside MLS. All rights reserved.
Data last updated 2/25/2025