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

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