11417 Washington Pl, Los Angeles, CA 90066

Property Description

We are pleased to present the opportunity to acquire 11417 Washington Place, a prime 10-unit multifamily property located in the highly sought-after Mar Vista submarket of West Los Angeles. Situated just west of the 405 Freeway and south of Venice Boulevard, this property offers exceptional access to neighboring cities including Culver City, Marina del Rey, Santa Monica, and Venice Beach. Residents enjoy a premier lifestyle with proximity to Silicon Beach, home to major employers such as Google, Apple, YouTube, Snap Inc., Beats by Dre, Hulu, Amazon, Facebook, and more. This generational, two-story asset, built in 1948, comprises 8,750 rentable square feet on a 7,508 square foot LAR3-zoned lot. The well balanced unit mix includes 1 two-bedroom two bathroom unit, 2 two-bedroom, one-and-a-half-bath units, 6 one-bedroom one-bath units, and 1 studio unit. The property also offers alley access and 9 uncovered parking spaces, providing tenants with convenient parking in an area where it is otherwise limited. Offered at a 4.35% CAP Rate and a 13.48 GRM based on current rents, with significant upside potential to operate at a 9.17% CAP Rate and 7.80 GRM at market rents, this asset presents a compelling investment opportunity. Whether you are seeking long-term appreciation or cash flow, 11417 Washington Place is positioned in one of the most stable and desirable coastal markets in Los Angeles. Contact the listing broker for additional information.