$ 1,500,000
-
$1,500,000
Price -
4
Bed -
2
Bath -
2,426
SqFt
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About the Listing CLW-X82195 - CLW-X91371,sbensbnic
This legacy four-plex held in the same family since 1989, presents a rare opportunity to acquire a character rich, desirable asset in Prime Mar Vista with 3 of 4 units delivered vacant. The new owner will benefit from multiple options to profitability- rehabbing and renting at market, redevelopment for up to 8 units or adding ADU's for substantially higher income (buyer to verify with City). It benefits from a premium location just blocks from the Von's shopping center, the new Culver Public Market and neighborhood dining destinations such as Hatchet Hall and Broken Spanish. The property offers an exceptional blend of long term stability and meaningful value add potential. Built in 1954, the property has 2,426 square feet of improvements on a generous 7,104 SF R3 zoned lot, creating optionality for future expansion, additional units, or ADU development (buyer to verify). The site features an ideal layout: a standalone 3BD/1BA front cottage with a private garage paired with a rear triplex consisting of three well-proportioned 1BD/1BA units all of which will all be delivered vacant. The two rear garages will also be delivered vacant, offering immediate income upside or potential for conversion. The property has been professionally managed by the same operator for 40 years, providing investors with confidence in its operational continuity and clean historical oversight. Recent capital improvements include brand new electrical sub panels in all four units, rebuilt freshly painted stairs and handrails for the rear building, new vertical and horizontal plumbing in the front house and a new heater in Unit 12609. With five total parking spaces and a simple, efficient building configuration, the asset is easy to operate and highly marketable to today's renter base. For investors seeking a blend of stability, upside, and long term optionality, this Mar Vista four plex checks every box: irreplaceable location, strong in-place fundamentals, clear paths to revenue growth, and zoning that supports future redevelopment potential. This is a rare chance to secure a legacy asset in a supply constrained Westside submarket.
Listing Highlights
Interior Details
- Bedrooms: 4
- Bathrooms: 2 Full
- Appliances: Disposal
- Air Cond:
- Heating: Natural Gas,Wall Furnace
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: 4 car
- Parking Spaces: 4
- Zoning: LAR3
- Roof:
- Others: 2+ Total Units,Has ADU
- Sewer:
- Parking Features: Door-Single,Garage
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 4235005016
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Questions About..
12609 Mitchell Ave Los Angeles, CA 90066
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