Seller's Agent in 2023
Kevin King
Marcus & Millichap
(562) 257-1245
1 in this area
46 Total Sales
11262 Venice Blvd Culver City, CA 90230
Estimated Value: $1,109,000 - $2,020,000
3
Beds
2
Baths
3,060
Sq Ft
$480/Sq Ft
Est. Value
About This Home
As of April 2023• TRUE VALUE-ADD OPPORTUNITY WITH APPROXIMATLEY 75% UPSIDE IN RENTS
• CENTRAL WEST LOS ANGELES LOCATION ON VENICE BLVD IN DESIREABLE CULVER CITY
• IMMEDIATELY ADJACENT TO 405 FREEWAY AND CLOSE TO METRO EXPO LINE, PROVIDING EASY-ACCESS FOR COMMUTING TENANTS
• PLENTY OF STREET PARKING, ALONG WITH TWO, 2-CAR GARAGES
• COMMON-AREA LAUNDRY ROOM
• 1954 CONSTRUCTION
• HISTORICALLY LOW FINANCING AVAILABE FOR MULTI-FAMILY PROPERTIES
We are pleased to present a 4-unit apartment building located at 11262 Venice Boulevard in Culver City, California. Built in 1954, the subject property consists of 3,060 rentable square feet, spread throughout a 5,000 square foot lot. The unit-mix consists of two 2-bedroom/ 1-bath units and two 1-bedroom/ 1-bath units. Owners can enjoy the high demand for rentals in West Los Angeles with desirable rental demographics that include educated and affluent young professionals. Tenants enjoy living in close proximity to many employment opportunities, entertainment venues, shopping, and restaurants.
Culver City continues to progress forward and is currently experiencing major redevelopments including the Ivy Station project, which includes 500,000 square feet of offices, apartments, a hotel, stores and restaurants. Apple's 550,000 square-foot mixed-use campus, along with companies like Amazon Studios, Warner Media and Tik Tok can also be found in this area.
This is an excellent opportunity to acquire a quality asset with true rental upside, bringing a steady return to the Buyer after conducting renovations.
Last Agent to Sell the Property
Marcus & Millichap License #01158184 Listed on: 10/27/2022
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $14,670
Year Built
- Built in 1954
Lot Details
- 5,000 Sq Ft Lot
- Two or More Common Walls
- Density is 2-5 Units/Acre
Parking
- 4 Car Garage
Home Design
- 3,060 Sq Ft Home
- Quadruplex
Bedrooms and Bathrooms
- 3 Bedrooms
- 2 Bathrooms
Outdoor Features
- Rain Gutters
Listing and Financial Details
- Tax Lot 218
- Tax Tract Number 6936
- Assessor Parcel Number 4214001018
- $2,309 per year additional tax assessments
Community Details
Overview
- 4 Units
Building Details
- 4 Leased Units
- 1 Separate Electric Meter
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Electric Expense $1,040
- Fuel Expense $1,040
- Insurance Expense $1,377
- Trash Expense $2,616
- Water Sewer Expense $1,040
- New Taxes Expense $16,250
- Operating Expense $27,963
- Gross Income $68,403
- Net Operating Income $40,440
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
May 11, 2013
Sold by
Legra Rafael J
Bought by
Legra Rafael J and Legra Rosa C
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$400,000
Interest Rate
3.5%
Mortgage Type
New Conventional
Purchase Details
Closed on
May 10, 2013
Sold by
Legra Rafael J
Bought by
Legra Rafael J and Legra Rosa C
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$400,000
Interest Rate
3.5%
Mortgage Type
New Conventional
Purchase Details
Closed on
Oct 10, 2006
Sold by
Legra Rafael and Legra Rosa
Bought by
Legra Rafael J
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Legra Rafael J | -- | None Available | |
| Legra Rafael J | -- | Fidelity Van Nuys | |
| Legra Rafael J | -- | None Available |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | Legra Rafael J | $400,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 04/20/2023 04/20/23 | Sold | $1,075,000 | -17.3% | $351 / Sq Ft |
| 03/27/2023 03/27/23 | Pending | -- | -- | -- |
| 01/11/2023 01/11/23 | Price Changed | $1,300,000 | -7.1% | $425 / Sq Ft |
| 10/27/2022 10/27/22 | For Sale | $1,400,000 | -- | $458 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $14,670 | $1,118,430 | $1,040,400 | $78,030 |
| 2024 | $14,670 | $1,096,500 | $1,020,000 | $76,500 |
| 2023 | $6,011 | $341,752 | $102,556 | $239,196 |
| 2022 | $5,850 | $335,052 | $100,546 | $234,506 |
| 2021 | $5,893 | $328,483 | $98,575 | $229,908 |
| 2019 | $5,745 | $318,742 | $95,652 | $223,090 |
| 2018 | $5,440 | $312,493 | $93,777 | $218,716 |
| 2016 | $4,904 | $300,361 | $90,137 | $210,224 |
| 2015 | $4,221 | $295,851 | $88,784 | $207,067 |
| 2014 | $4,931 | $290,056 | $87,045 | $203,011 |
Source: Public Records
Agents Affiliated with this Home
-
Kevin King
-
Ryan Gonzalez
R
Seller Co-Listing Agent in 2023
Ryan Gonzalez
Lyon Stahl Investment Real Est
(562) 879-3206
1 in this area
20 Total Sales
-
NoEmail NoEmail
N
Buyer's Agent in 2023
NoEmail NoEmail
None MRML
(646) 541-2551
1 in this area
5,998 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW22231075
APN: 4214-001-018
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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