CA > Los Angeles
Los Angeles, CA 90066,12028 Venice Blvd
Los Angeles, CA 90066,12028 Venice Blvd
Los Angeles, CA 90066,12028 Venice Blvd
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$2,695,000
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6 Beds
6 Baths
6,194 SqFt
Active

12028 Venice Blvd Los Angeles, CA 90066

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Chance Vanek

Chance Vanek

+1(702) 305-3777

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 6,194 sqft

Price per Sqft $435

MLS Listing ID 24-354063

Bedrooms 6

Year Built 1960

Lot Size 8,248 Sqft

Acres 0.1893

Property Sub-Type Multi-Family

Property Description

A rare investment opportunity in the heart of Mar Vista, this two-story mixed-use building offers immediate income, long-term upside, and strong intrinsic land value. Built in1960, the property spans approximately 6,194 square feet on an 8,248 SF LAC2 lot with TOC Tier 2 designation positioning it as both a high-performing asset and a compelling land bank play for future development. The 2,192 SF ground floor retail component sits on a highly visible stretch of Venice Blvd, steps from the Mar Vista Farmers Market and Mar Vista Library. It currently features a tailor, a fortune teller, and several small office rooms all month-to-month tenants paying below-market rents. A savvy operator can reconfigure and consolidate the retail into two long-barrel storefronts (a common and desirable layout along Venice Blvd), targeting market rents of $5/SF NNN. This repositioning supports a pro forma NOI of approximately $131,520 annually, which at a 5% cap rate, values just the ground floor at roughly $2.63 million effectively justifying the asking price based on the retail alone. Above the commercial component are six one-bedroom residential units, all significantly under market rents and offering an estimated 53% upside through tenant turnover and value-add improvements. At the rear of the property, two one-car garages provide an easy opportunity for ADU conversion, further enhancing cash flow and increasing overall property value. With its LAC2 zoning and TOC Tier 2 status, the 8,248 SF lot is well-positioned for future redevelopment. Investors can hold and operate the property as a cash-flowing income asset, while also benefiting from the long-term flexibility to pursue a larger mixed-use project down the line. The combination of stabilized income, rental upside, and entitlement-friendly zoning makes this an ideal land bank investment in one of West LA's most dynamic and supply-constrained submarkets.

Location

State CA

County Los Angeles

Area Palms - Mar Vista

Zoning LAC2

Rooms

Other Rooms Other

Interior

Heating Other

Cooling Other

Equipment Other

Exterior

Parking Features Detached, Garage Is Detached, Parking Space, Side By Side, Uncovered

Garage Spaces 17.0

Building

Lot Description Alley Paved

Story 2

Level or Stories Two

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2025 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Maher Commercial Realty

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Chance Vanek

Agent | RE.S.0066702

+1(702) 305-3777

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12028 Venice Blvd