12320 Washington PlLos Angeles, CA 90066

This exceptional investment opportunity presents a two-story, four-unit apartment building located at 12320 Washington Place, Los Angeles, CA 90066. The property, built in 1950, sits on a 6,346 square foot lot and boasts 3,550 square feet of living space, with each unit featuring two bedrooms and one bathroom. Currently operating at 75% occupancy, the property generates a net operating income (NOI) of $71,197, with a current cap rate of 3.11%. However, with approved plans for the construction of one 900 square foot Accessory Dwelling Unit (ADU) above the existing four-car garage on each parcel, the pro-forma NOI is projected to reach $150,169, resulting in a significantly improved pro-forma cap rate of 6.56%. The asking price is $2,288,000, or $572,000 per unit. The property benefits from its prime location in Culver City, near Marina Del Rey, Venice, Mar Vista, and Playa Vista, providing easy access to major employment centers, transportation, and numerous amenities. The building features separate gas and electric meters for each unit. Zoned R4, this property offers a compelling blend of stability and significant upside potential in a highly desirable Los Angeles neighborhood. The strong rental market in Culver City, coupled with the planned ADU additions, positions this asset for substantial long-term growth and return on investment.