12028 Venice Boulevard
Los Angeles, CA 90066
- – beds
- – baths
- – sqft
- 8,248 sqft lot
- 1960 build
- – on site
Prime mixed-use investment opportunity in West LA with immediate value-add potential. The property features 6 residential (1 bed/1 bath) units, two retail spaces, 7 small offices, and two one-car garages (ADU conversion) all on a generous 8,200 square foot C2 Zoned lot. The ground floor features nine commercial spaces, including two retail storefronts and seven small offices, all leased month-to-month at below-market rents, offering an immediate 52% upside in commercial leases, bringing the cap rate to 7.9%. Above, six residential units (all 1-bed/1-bath) present an additional 53% rental upside. Two 1-car garages at the rear offer ADU conversion potential. Located on the same block as the Mar Vista Farmers Market, in a highly walkable, food-centric neighborhood, this A+ investment boasts a projected 9% cap rate post value-add enhancements. The 8,200 sq. ft. lot allows for the development of approximately 30 units, with the option to purchase the neighboring 12034 Venice Blvd for a combined 74-unit development site.
Last checked:
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Last updated Feb 24, 2025
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MLS# 24354063 —
The Building
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Year Built:1960
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New Construction:No
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Building Area Total:6194.00
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Total Number Of Units:12
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# of Buildings:2
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Stories Total:2
Interior
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Levels:Two
Financial & Terms
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Disclosures:LA/Owner Related
Location
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Directions:West on Venice Blvd., just past Inglewood Blvd. Building is on the left side of the street.
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Latitude:34.00538600
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Longitude:-118.42947400
The Property
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Property Type:Residential Income
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Zoning:LAC2
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Lot Size Area:8248.0000
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Lot Size Dimensions:50x164
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Lot Size Acres:0.1893
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Lot Size SqFt:8248.00
Listing Agent
- Contact info:
- No listing contact info available
The Listing
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Special Listing Conditions:Standard
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Parcel Number:4235024005
Appliances
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Included:Yes
The Community
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Association:No
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Senior Community:No
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Assessments:No
Parking
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Parking:Yes
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Parking:Parking Space, Side by Side, Uncovered
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Parking Spaces:17.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
2/14/25
Feb 14, 2025
|
Price Changed | CRMLS_CA | $2,695,000 | -6.9% |
|
1/8/25
Jan 8, 2025
|
Price Changed | CRMLS_CA | $2,895,000 | -3.3% |
|
7/29/24
Jul 29, 2024
|
Price Changed | CRMLS_CA | $2,995,000 | -9.1% |
