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Listed by Edward Kaminsky • eXp Realty of California, Inc
$3,550,000
Est. payment /mo
9,884 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 9,884 sqft
Price per Sqft $359
MLS Listing ID CRSB25186586
HOA Y/N No
Year Built 1953
Lot Size 9,152 Sqft
Property Sub-Type Other
Source Datashare California Regional
Property Description
Strong Income & Upside in a Rare Culver City Multi-Unit Located at 11020 - 11028 Venice Blvd. Investors: this is one to watch. Twelve 2 bed / 1 bath units plus three income-producing garages, totaling nearly 10,000 square feet of living space on a 9,152 sq ft lot. Two on-site laundry rooms offer added convenience (and potential income). The building has been freshly painted on the exterior and is currently generating solid income with below-market rents - average-condition 2BR units in the area are leasing for ~$2,400/month, offering clear upside through future renovations and lease-ups. Cap rate just over 5% - already outperforming many nearby assets. This property offers a compelling mix of stable in-place cash flow and long-term value growth potential. Located in Culver City proper - a submarket with historically strong tenant demand, low inventory, and consistent investor interest. Major employers are all around: Sony Pictures Studios, Southern California Hospital, Culver City Unified School District, West LA College, the buzzing Hayden Tract creative zone, plus the Westfield Culver City Mall just up the road. That means a deep pool of renters who want to live close to both work and play. Tenants also enjoy Culver City's dining, shopping, and cultural amenities, with Venice,
Location
State CA
County Los Angeles
Interior
Heating Wall Furnace
Fireplace No
Laundry Common Area
Building
Lot Description Corner Lot
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