MLS® ID: SB19248475MR
12240 Pacific Ave
Los Angeles, California, 90066 $6,899,000
12240 Pacific Ave, Los Angeles is a trophy 13-unit apartment building located in a highly desirable Mar Vista submarket. The luxurious 6,532 SF building is situated on a 7,500 SF lot and has been completely remodeled with top-of-the-line upgrades. This property features a unit mix of (9) 1-bed/1-bath units and (4) studio apartments, currently stabilizing at a 3.81% CAP rate.* The entire property has undergone the following renovations: in-unit Washer/Dryers, Wood Plant Waterproof Flooring, New SS Kitchen Appliances, New Quartz Kitchen Countertops with New ‘Soft-Close’ Cabinets, Subway Tile Backsplashes, SS Farmhouse Sinks, Completely Renovated Bathrooms with Full Slab Quartz Tub Surrounds, All New LED Interior Lighting, Instant Hot Water, and High Speed Internet throughout the units. The property is in one of Los Angeles’ Westsides hottest submarkets, just a short distance from Venice, Culver City, Santa Monica, and the prime retail corridors on Rose Avenue and Abbot Kinney Boulevard. This is a perfect opportunity for a yield-focused investor looking to purchase a turn-key asset in one of the most desirable rental markets in Southern California.