12121 Washington PlLos Angeles, CA 90066

This probate sale presents a unique opportunity to acquire an eight-unit mixed-use property in a desirable West Los Angeles location. The 4,661 square foot building, constructed in 1960 on a 5,005 square foot lot, boasts a mix of residential and commercial units. Specifically, there are five two-bedroom, one-bathroom residential units, one one-bedroom, one-bathroom residential unit, and two commercial units. Currently, the occupancy rate is 87%, generating a net operating income (NOI) of $110,164, with a 6.48% cap rate. A pro-forma NOI of $180,871 and a pro-forma cap rate of 10.64% indicate significant value-add potential. The property includes seven parking spaces and is zoned LAC2. Note that one large two-bedroom unit is vacant and will be delivered vacant at close of escrow. All units have separate gas and electric meters. The property is being sold "as is" and "where is," with existing tenants in place. A mandatory soft story retrofit has not been completed, and a Certificate of Substandard Building has been recorded on the title. The seller, a court-appointed fiduciary, cannot make representations regarding the property's condition or history. Buyers are responsible for conducting their own due diligence. The asking price is $1,700,000, or $212,500 per unit, and $364.73 per square foot. This property offers easy access to shopping, dining, entertainment, and the I-405 freeway, and is minutes from Downtown Culver City and Venice Beach. The property will be open for viewing on November 1st and 5th, from 11:00 am to 1:00 pm.