12231 Pacific Avenue, Los Angeles, CA 90066
List Price: $2.35M
Listing Status: Active
Original List Price: $2.6M
0Days on Market: 44
16 Bedrooms · 13 Bathrooms · 6,950 sq ft
Property Type: ResidentialIncome
Year Built: 1963
Lot Size: 7,503 sq ft
MLS Number: 26659095
About This Property
We are pleased to exclusively offer this A+ location 7-unit multifamily property located at 12231 Pacific Avenue in the heart of Mar Vista. The 6,950 square foot building features a well-designed unit mix of (4) 2-bedroom, 2-bathroom unit and (2) 3-bedroom, 2-bathroom units and (1) 2-bedroom, 1-bathroom unit. This asset presents a unique "blank slate" opportunity for an investor to implement a value-add business plan. The strategy involves renovating the units to modern standards targeting a gross monthly income of $23,000. This represents a 24.3% increase over the pro-forma gross monthly rent of $18,500. 12 parking spaces and laundry room in complex with potential for increased revenue.