10022 Culver BlvdCulver City, CA 90232

Property Details for 10022 Culver Blvd

Year built

1953

Construction

WOOD

Lot size

0.18 AC

Property size (Sq ft)

5,852 SF

Zone code

CCC3YY

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

4207-010-002

APU

4207010002

Description

Exceptional investment opportunity in Culver City, California, presents a fully renovated, 10-unit apartment building boasting 6,992 square feet of net rentable space. This turnkey asset, situated at 10022 Culver Blvd, 90232, offers a compelling cap rate of 4.94% and a strong net operating income (NOI) of $269,333. The property, built in 1953 and extensively renovated in 2020, comprises a single, two-story building on a 7,636 square foot lot (APN: 4207-010-002). The asking price is $5,450,000, translating to $545,000 per unit and $779 per square foot. All units feature individual laundry and air conditioning. This prime location across from Sony Studios benefits from a Walk Score of 95 out of 100, placing it within a vibrant entertainment and cultural hub. The property includes eight standard units and two legally permitted accessory dwelling units (ADUs), all meticulously updated to luxury standards. The permitted zoning is CCC3YY. This is a rare opportunity to acquire a best-in-class, high-performing multifamily property in a highly sought-after area of Los Angeles County. The property's strong financials and prime location make it an ideal investment for discerning buyers seeking a stable and appreciating asset.

• CAP approach

  CAP return

  Valuation

  6%

  $1,676,463

  6.5%

  $1,547,504

  7%

  $1,436,968

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,724,865

  Geo Method

  $1,724,865

• Alternative Use

  Use

  Valuation

  Residential

  $1,547,504

  Hospitality

  $1,417,505

  Educational

  $1,179,348

  Medical

  $1,219,907

  Retail

  $1,834,541

Location Insight

City

Culver City

County

Los Angeles

State

California

Latitude

34.02

Longitude

-118.397

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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