12314 Washington Place, Culver City, CA 90066
List Price: $3.2M
Listing Status: Active
0Days on Market: 8
16 Bedrooms · 8 Bathrooms · 7,038 sq ft
Property Type: ResidentialIncome
Year Built: 1950
Lot Size: 12,478 sq ft
MLS Number: 26868503
About This Property
Two adjacent 1950 fourplexes on side-by-side parcels in Culver City, offered together as a single 8-unit investment. All eight units are 2BD/1BA. Occupied units average $2,093 per month versus projected market rents of $3,100. Both buildings received new roofs in 2025 plus a full exterior repaint, and 12320 delivers one vacant unit at close plus $1,400 per month of garage parking income.48% Rental Upside: Occupied units average $2,093 per month versus projected market rents of $3,100. At those rents, the offering produces a 7.05% pro forma cap rate before any ADU contribution.Assumable Debt Below Market: An existing Chase loan of approximately $1,200,000 at 3.91% may be assumed by a qualified buyer, well below prevailing rates. Balance, terms, and assumability to be verified with the lender.Two Parcels, One Offering: Each fourplex sits on its own legal parcel and can be financed, insured, and exited independently, which opens the offering to both the 1 to 4 unit residential financing market and the 5+ unit commercial pool.Capital Work Complete: Both buildings received new roofs in 2025 at $50,740 plus a full exterior repaint, $68,740 total per seller-signed 2025 operating statements.Priced Against the Anchor Sale: At $454 per square foot the offering prices directly against 12510 Washington Pl, same street two blocks away, which closed March 2026 at $459 per square foot.
Listing provided by: Filip Niculete DRE #01905352 818-212-2700 info@laaa.com, Marcus & Millichap
Source: CRMLS