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    12707 Mitchell Ave

    Los Angeles, CA 90066
    • $4,250,000
    • STATUS: Active Under Contract
    • ON SITE: 163 days
    • MLS #: 20-636062
    Under Contract
    UPDATED: 67 min ago
    $4,250,000
    • 15
      BEDS
    • 0.23
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 11,356
      SQFT
    • $374
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1969
    County:

    School Ratings & Info

    Description

    13-unit (12+B/GR) Multifamily Income Property currently generating strong income for the popular westside Los Angeles neighborhood of Mar Vista. Significant to investors, is the ultra-low area price of $374/SF & $327K/Unit. Currently the income property earns in excess of $282k annually, with an NOI of over $166k, the GRM is 15.04, and the In-place Cap rate is 3.92%. Twin Tower attracts quality tenants in a top rental pocket, with an excellent track record of low vacancy. Located between popular Culver City, home to large new Apple and Amazon developments, and Silicon Beach which has attracted an estimated 500 tech companies, ranging from startups to established tech giants. Major technology companies that have opened offices in the region include Google, Facebook, Amazon, Apple, Netflix, Yahoo!, YouTube, Nike, BuzzFeed, Electronic Arts & Sony. Only one side requires tuck under seismic retrofit, $33K bid.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-03-05T06:43:24.017. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.markwiseproperties.com/homes/110277065
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    12707 Mitchell Ave Los Angeles, CA 90066

    • Price: $4,250,000
    • Status: Active Under Contract
    • Updated: 67 min ago
    • MLS #: 20-636062
    15
    Beds
    0
    Baths
    0
    ½ Baths
    0.23
    Acres
    11,356
    SQFT
    $374
    $/SQFT
    1969
    Built
    Neighborhood:
    Palms - Mar Vista
    County:
    Los Angeles
    Area:
    Palms - Mar Vista
    Property Description
    13-unit (12+B/GR) Multifamily Income Property currently generating strong income for the popular westside Los Angeles neighborhood of Mar Vista. Significant to investors, is the ultra-low area price of $374/SF & $327K/Unit. Currently the income property earns in excess of $282k annually, with an NOI of over $166k, the GRM is 15.04, and the In-place Cap rate is 3.92%. Twin Tower attracts quality tenants in a top rental pocket, with an excellent track record of low vacancy. Located between popular Culver City, home to large new Apple and Amazon developments, and Silicon Beach which has attracted an estimated 500 tech companies, ranging from startups to established tech giants. Major technology companies that have opened offices in the region include Google, Facebook, Amazon, Apple, Netflix, Yahoo!, YouTube, Nike, BuzzFeed, Electronic Arts & Sony. Only one side requires tuck under seismic retrofit, $33K bid.
    Exterior Features

    Lot Size Area 9847 Other Structures None Parking Garage Covered Parking Total Parking 13

    Interior Features

    Baths Total 16.00 Cooling Wall/Window Equipment Range/Oven Heating Wall Laundry Community

    Property Features

    Assessed Total Value 2795998 Gross Income 282555 Gross Operating Income 274078 Like Units1 1 Like Units2 9 Like Units3 3 Net Operating Income 166648.00 Number Of Buildings 1 Number Of Units 13 Rent Control YN Yes Sale Type Standard Source Living Area Assessor Source Lot Size Area Assessor Total Annual Expense 107438 Type Of Units Apartments Year Built Source Assessor Zoning Lar3

    Listing provided courtesy of Kelly Morgan DRE#01898026 of Keller Williams-Santa Monica.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-03-05T06:43:24.017. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    Mark Wise | Bennion Deville Homes
    71691 Highway 111
    Rancho Mirage CA, 92270