12028 Venice Blvd Los Angeles, CA 90066
Mar Vista NeighborhoodEstimated payment $17,578/month
Total Views
1,530
6
Beds
6
Baths
6,194
Sq Ft
$435
Price per Sq Ft
Highlights
- 17 Car Attached Garage
- Venice High School Rated A
- Side by Side Parking
About This Home
A rare investment opportunity in the heart of Mar Vista, this two-story mixed-use building offers immediate income, long-term upside, and strong intrinsic land value. Built in1960, the property spans approximately 6,194 square feet on an 8,248 SF LAC2 lot with TOC Tier 2 designation positioning it as both a high-performing asset and a compelling land bank play for future development. The 2,192 SF ground floor retail component sits on a highly visible stretch of Venice Blvd, steps from the Mar Vista Farmers Market and Mar Vista Library. It currently features a tailor, a fortune teller, and several small office rooms all month-to-month tenants paying below-market rents. A savvy operator can reconfigure and consolidate the retail into two long-barrel storefronts (a common and desirable layout along Venice Blvd), targeting market rents of $5/SF NNN. This repositioning supports a pro forma NOI of approximately $131,520 annually, which at a 5% cap rate, values just the ground floor at roughly $2.63 million effectively justifying the asking price based on the retail alone. Above the commercial component are six one-bedroom residential units, all significantly under market rents and offering an estimated 53% upside through tenant turnover and value-add improvements. At the rear of the property, two one-car garages provide an easy opportunity for ADU conversion, further enhancing cash flow and increasing overall property value. With its LAC2 zoning and TOC Tier 2 status, the 8,248 SF lot is well-positioned for future redevelopment. Investors can hold and operate the property as a cash-flowing income asset, while also benefiting from the long-term flexibility to pursue a larger mixed-use project down the line. The combination of stabilized income, rental upside, and entitlement-friendly zoning makes this an ideal land bank investment in one of West LA's most dynamic and supply-constrained submarkets.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $34,724
Year Built
- Built in 1960
Lot Details
- 8,248 Sq Ft Lot
- Lot Dimensions are 50x164
Interior Spaces
- 6,194 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 6 Bedrooms
- 6 Bathrooms
Parking
- 17 Car Attached Garage
- Side by Side Parking
- Uncovered Parking
Community Details
- 2 Buildings
- 12 Units
Listing and Financial Details
- Assessor Parcel Number 4235-024-005
Map
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Home Values in the Area
Average Home Value in this Area
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 | $34,724 | $2,845,800 | $2,560,200 | $285,600 |
| 2024 | $34,724 | $2,790,000 | $2,510,000 | $280,000 |
| 2023 | $8,124 | $572,580 | $388,756 | $183,824 |
| 2022 | $7,793 | $561,354 | $381,134 | $180,220 |
| 2021 | $7,668 | $550,348 | $373,661 | $176,687 |
| 2020 | $7,731 | $544,706 | $369,830 | $174,876 |
| 2019 | $7,465 | $534,027 | $362,579 | $171,448 |
| 2018 | $7,295 | $523,557 | $355,470 | $168,087 |
| 2016 | $6,892 | $503,228 | $341,667 | $161,561 |
| 2015 | $6,803 | $495,670 | $336,535 | $159,135 |
| 2014 | $6,843 | $485,961 | $329,943 | $156,018 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/01/2025 07/01/25 | For Sale | $2,695,000 | 0.0% | $435 / Sq Ft |
| 06/30/2025 06/30/25 | Off Market | $2,695,000 | -- | -- |
| 02/24/2025 02/24/25 | For Sale | $2,695,000 | 0.0% | $435 / Sq Ft |
| 02/19/2025 02/19/25 | Off Market | $2,695,000 | -- | -- |
| 02/14/2025 02/14/25 | Price Changed | $2,695,000 | -6.9% | $435 / Sq Ft |
| 01/08/2025 01/08/25 | Price Changed | $2,895,000 | -3.3% | $467 / Sq Ft |
| 07/29/2024 07/29/24 | Price Changed | $2,995,000 | -9.1% | $484 / Sq Ft |
| 07/26/2024 07/26/24 | For Sale | $3,295,000 | 0.0% | $532 / Sq Ft |
| 07/24/2024 07/24/24 | Off Market | $3,295,000 | -- | -- |
| 05/24/2024 05/24/24 | For Sale | $3,295,000 | 0.0% | $532 / Sq Ft |
| 05/23/2024 05/23/24 | Off Market | $3,295,000 | -- | -- |
| 04/23/2024 04/23/24 | For Sale | $3,295,000 | 0.0% | $532 / Sq Ft |
| 04/22/2024 04/22/24 | Off Market | $3,295,000 | -- | -- |
| 02/01/2024 02/01/24 | For Sale | $3,295,000 | -- | $532 / Sq Ft |
Source: The MLS
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | -- | Provident Title Company | |
| Deed | -- | None Listed On Document | |
| Interfamily Deed Transfer | -- | None Available | |
| Interfamily Deed Transfer | -- | None Available | |
| Interfamily Deed Transfer | -- | None Available | |
| Interfamily Deed Transfer | -- | Gateway Title Company | |
| Interfamily Deed Transfer | -- | Gateway Title Company | |
| Gift Deed | -- | -- | |
| Grant Deed | $380,000 | Stewart Title | |
| Trustee Deed | $394,998 | North American Title |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $400,000 | Commercial | |
| Previous Owner | $285,000 | Commercial | |
| Previous Owner | $266,000 | Commercial |
Source: Public Records
Similar Homes in Los Angeles, CA
Source: The MLS
MLS Number: 24-354063
APN: 4235-024-005
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© 2025 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). 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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