Multifamily

12718 Mitchell Ave

Listing Price: $3,100,000

Cap Rate
3.25%
Number of Units
9
GRM
18.02
Occupancy
98.00%
Price/Unit
$344,444
Price/Gross SF
$390.67
Gross SF
7,935

Investment Overview

Marcus & Millichap is pleased to have an opportunity exclusively market for sale 12718 Mitchell Avenue, a nine-unit apartment building located in one of the most upcoming rental markets in all of Los Angeles - Mar Vista. The subject property is a two-story wood framed + stucco exterior walk up that was built in 1971.

The building offers an excellent unit mix consisting mostly of one-bedroom apartments. Seven units are one-bedroom/one-bathroom, and two units are two-bedroom/two-bathroom. The property features on-site parking with 6 carports in back, three enclosed garage spaces in front with space to park three more cars on the driveway in front.
The earthquake retrofit for the carport parking structure needs to be completed. The property amenities include controlled access gated entrance and on-site laundry facilities.

The property is in proximity to many restaurants, cafes, coffee shops, boutiques and night life as well as the Mar Vista weekly farmers market. This location provides tenants easy access to surrounding areas including Santa Monica, Venice, Playa Del Rey, Culver City, Beverly Hills, and Century City.

Investment Highlights

  • Prime Mar Vista Location
  • High Barrier To Entry Market
  • 41.5% Upside In Current Rents

Exclusively Listed By

Listing Price: $3,100,000

Cap Rate
3.25%
Number of Units
9
GRM
18.02
Occupancy
98.00%
Price/Unit
$344,444
Price/Gross SF
$390.67
Gross SF
7,935

Investment Highlights

  • Prime Mar Vista Location
  • High Barrier To Entry Market
  • 41.5% Upside In Current Rents

Investment Overview

Marcus & Millichap is pleased to have an opportunity exclusively market for sale 12718 Mitchell Avenue, a nine-unit apartment building located in one of the most upcoming rental markets in all of Los Angeles - Mar Vista. The subject property is a two-story wood framed + stucco exterior walk up that was built in 1971.

The building offers an excellent unit mix consisting mostly of one-bedroom apartments. Seven units are one-bedroom/one-bathroom, and two units are two-bedroom/two-bathroom. The property features on-site parking with 6 carports in back, three enclosed garage spaces in front with space to park three more cars on the driveway in front.
The earthquake retrofit for the carport parking structure needs to be completed. The property amenities include controlled access gated entrance and on-site laundry facilities.

The property is in proximity to many restaurants, cafes, coffee shops, boutiques and night life as well as the Mar Vista weekly farmers market. This location provides tenants easy access to surrounding areas including Santa Monica, Venice, Playa Del Rey, Culver City, Beverly Hills, and Century City.

Exclusively Listed By

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