Multifamily
12314 & 12320 Washington Pl
12314 Washington Pl, Los Angeles, CA 90066
Listing Price: $2,996,000
Investment Overview
Marcus & Millichap is pleased to present the Washington Place Fourplexes — a pair of adjacent 1950 fourplexes on side-by-side parcels at 12314 & 12320 Washington Place. The offering totals 8 units, all 2BD/1BA of roughly 880 square feet each, comprising ±7,038 squarefeet of improvements on ±12,478 square feet of land with 8 parking spaces. Both parcels sit within the City of Culver City jurisdiction while carrying a Los Angeles 90066mailing address — Culver City schools and services with a Westside location.
The heavy capital work is already done: both buildings received new roofs in 2025 ($50,740 spent) plus a full exterior repaint, per seller-signed 2025 operating statements.Occupied units average $2,093 per month against the seller’s own $3,100 market estimate — roughly 48% upside on in-place rents. 12314 is fully occupied; 12320 delivers avacant unit for an owner-user or immediate lease-up, plus $1,400 per month of parking income from its garages.
The seller reports approved ADU plans that convey with a combined purchase of both buildings — a unified-ownership unlock on two contiguous parcels (count and statusto be verified by buyer with Culver City Building & Safety). Because each fourplex sits on its own legal parcel, the pairing can be financed, insured, and exited independently— widening the buyer pool to both the 1–4 unit residential-financing market and the 5+ unit commercial pool. Financing flexibility is further enhanced by an existing Chaseloan of approximately $1,200,000 at a 3.91% interest rate that may be assumed by a qualified buyer — well below today’s prevailing rates (loan balance, terms, andassumability to be verified with the lender).
At $3,096,000, the offering represents a 5.00% going-in cap rate and 13.47 GIM ($387,000 per unit and $440 per square foot), with a 7.55% pro forma cap rate at the seller’s market rents, before any ADU contribution.? The fourplexes are also priced individually, with 12314 offered at $1,448,000 and 12320 at $1,648,000, and the approved plans convey with each building.?
12314 & 12320 Washington Pl
Investment Highlights
- Occupied units average $2,093/mo against the seller's own $3,100 marketestimate. At market rents the same expense structure produces a 7.05% proforma cap — before any ADU contribution.
- New roofs on both buildings (2025, $50,740 spent) plus a full exterior repaint —$68,740 total per seller signed 2025 P&Ls.
- Culver City schools and municipal services with a Los Angeles 90066 address —2 miles to Downtown Culver City, 3 miles to Playa Vista.
- Culver City rent control caps annual increases, but vacancy decontrol repricesunits at turnover — one unit is already vacant, and every remaining tenancy sitswell below market.
- 8 units on side-by-side parcels — each fourplex separately parcelized and able tobe financed, insured, and exited independently.
- Seller reports approved ADU plans that convey with a combined purchase of bothbuildings — a unified ownership unlock (count/status buyer to verify with CulverCity Building & Safety).
- 12314 is fully occupied; 12320 delivers a vacant 2BD/1BA at close (owner-user orimmediate lease-up) plus $1,400/mo of garage parking income.
- $454/SF prices directly against 12510 Washington Pl — same street, two blocksaway — closed March 2026 at $459/SF, while undercutting the 2–4 unit activeset's $612/SF average.
Exclusively Listed By
Listing Price: $2,996,000
Investment Highlights
- Occupied units average $2,093/mo against the seller's own $3,100 marketestimate. At market rents the same expense structure produces a 7.05% proforma cap — before any ADU contribution.
- New roofs on both buildings (2025, $50,740 spent) plus a full exterior repaint —$68,740 total per seller signed 2025 P&Ls.
- Culver City schools and municipal services with a Los Angeles 90066 address —2 miles to Downtown Culver City, 3 miles to Playa Vista.
- Culver City rent control caps annual increases, but vacancy decontrol repricesunits at turnover — one unit is already vacant, and every remaining tenancy sitswell below market.
- 8 units on side-by-side parcels — each fourplex separately parcelized and able tobe financed, insured, and exited independently.
- Seller reports approved ADU plans that convey with a combined purchase of bothbuildings — a unified ownership unlock (count/status buyer to verify with CulverCity Building & Safety).
- 12314 is fully occupied; 12320 delivers a vacant 2BD/1BA at close (owner-user orimmediate lease-up) plus $1,400/mo of garage parking income.
- $454/SF prices directly against 12510 Washington Pl — same street, two blocksaway — closed March 2026 at $459/SF, while undercutting the 2–4 unit activeset's $612/SF average.
Investment Overview
Marcus & Millichap is pleased to present the Washington Place Fourplexes — a pair of adjacent 1950 fourplexes on side-by-side parcels at 12314 & 12320 Washington Place. The offering totals 8 units, all 2BD/1BA of roughly 880 square feet each, comprising ±7,038 squarefeet of improvements on ±12,478 square feet of land with 8 parking spaces. Both parcels sit within the City of Culver City jurisdiction while carrying a Los Angeles 90066mailing address — Culver City schools and services with a Westside location. The heavy capital work is already done: both buildings received new roofs in 2025 ($50,740 spent) plus a full exterior repaint, per seller-signed 2025 operating statements.Occupied units average $2,093 per month against the seller’s own $3,100 market estimate — roughly 48% upside on in-place rents. 12314 is fully occupied; 12320 delivers avacant unit for an owner-user or immediate lease-up, plus $1,400 per month of parking income from its garages. The seller reports approved ADU plans that convey with a combined purchase of both buildings — a unified-ownership unlock on two contiguous parcels (count and statusto be verified by buyer with Culver City Building & Safety). Because each fourplex sits on its own legal parcel, the pairing can be financed, insured, and exited independently— widening the buyer pool to both the 1–4 unit residential-financing market and the 5+ unit commercial pool. Financing flexibility is further enhanced by an existing Chaseloan of approximately $1,200,000 at a 3.91% interest rate that may be assumed by a qualified buyer — well below today’s prevailing rates (loan balance, terms, andassumability to be verified with the lender). At $3,096,000, the offering represents a 5.00% going-in cap rate and 13.47 GIM ($387,000 per unit and $440 per square foot), with a 7.55% pro forma cap rate at the seller’s market rents, before any ADU contribution.? The fourplexes are also priced individually, with 12314 offered at $1,448,000 and 12320 at $1,648,000, and the approved plans convey with each building.?
Exclusively Listed By
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