REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 2,500,000
Est. payment | /mo
10 Beds
6 Baths
4,692 SqFt
$ 2,500,000
Est. payment | /mo
10 Beds
6 Baths
4,692 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 4,692 sqft
Price per Sqft $532
MLS Listing ID 26993029
Bedrooms 10
HOA Y/N No
Year Built 1948
Lot Size 7,509 Sqft
Property Description
EXCEPTIONAL CULVER CITY INVESTMENT WITH TREMENDOUS INCOME UPSIDE! Rare 5-unit property offering an outstanding opportunity to acquire a significantly under-market income property in one of Culver City's most desirable rental locations. The property consists of three 1-bedroom/1-bath units, one 2-bedroom/1-bath unit, plus a separate 4-bedroom/2-bath rear house. Current gross rents are only $7,904 per month ($94,848 annually), providing substantial long-term upside as rents transition toward prevailing market levels, subject to applicable rent-control and tenant-protection regulations. Projected market rents are approximately $16,400 per month, or $196,800 annually...more than double the property's current gross income. This represents over $100,000 in potential additional annual gross income at projected market rents. Adding to the opportunity, the detached 4-bedroom/2-bath rear house is expected to be delivered vacant, giving the new owner an immediate opportunity to capture substantially higher income from a major component of the property. Lease it at market rent, renovate and reposition it, or consider it for owner occupancy while collecting income from the four apartment units. This is exactly the type of value-add opportunity that has become increasingly difficult to find in Culver City: strong existing income, dramatically below-market rents, an excellent unit mix, a vacant detached house, and significant future income potential. Prime Culver City location convenient to Downtown Culver City, restaurants, shopping, entertainment, transportation and major Westside employment centers. An exceptional opportunity for an investor willing to look beyond today's income and recognize the property's considerable long-term potential. Projected market rents are estimates only and are not guaranteed. Buyer to independently investigate rental rates, rent-control requirements and all applicable regulations.
Location
State CA
County Los Angeles
Area C28 - Culver City
Zoning CCR4*
Interior
Heating Combination, Central, Wall Furnace
Cooling None
Fireplace No
Appliance Refrigerator
Building
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 4213003013
Special Listing Condition Standard
Listed by Martin Feinberg KW Westside Estates #00977561
NEARBY SCHOOLS & PROPERTIES
“My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! ”
GET MORE INFORMATION